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- Cash-strapped Kenyan startup Twiga Foods has raised an undisclosed funding amidst operational restructuring attributed to tough market conditions.
- The firm announced that it has successfully closed a capital raise to fund its transformation and growth plans, anchored by Creadev and Juven, with participation from other existing shareholders.
- The move comes months after the firm announced that it will lay off a third of its 850 permanent employees.
Cash-strapped Kenyan startup Twiga Foods has raised an undisclosed funding amidst operational restructuring attributed to tough market conditions.
The firm on Monday, announced that it has successfully closed a capital raise to fund its transformation and growth plans, anchored by Creadev and Juven, with participation from other existing shareholders.
The move comes months after the firm announced that it will lay off a third of its 850 permanent employees.
Twiga Foods chairman says firm on track to digitize retail economy
“The company …
Early investors in Twiga Foods have partially sold their stake as part of a strategy to accommodate the later stage and longer-term investors.…