Koa raises USD 15 Million in Series B funding to revolutionize cacao industry with upcycled fruit juice
07.12.2023
Swiss-Ghanian startup Koa has raised USD 15 Million in Series B funding to scale up its upcycled cacao business, intensify regenerative agriculture practices to involve over 10,000 more farmers, and address the climate footprint of the West African cocoa industry.
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Koa is revolutionizing the cocoa industry by upcycling cocoa fruit, particularly the previously discarded cocoa pulp. This innovative approach, in collaboration with cocoa smallholders in Ghana, not only reduces on-farm food waste but also enhances farmer income. Koa's recently inaugurated factory in Ghana's Eastern Region positions the company to significantly expand production, with plans to engage an additional 10,000 cocoa farmers.
Koa's Series B funding round, amounting to USD 15 Million, takes its total funds raised to USD 25 Million. The startup, specializing in upcycled cacao products, received support from both existing and new investors in this latest investment cycle: The Land Degradation Neutrality (LDN) Fund, the Regenerative Growth Fund 1, and Mirabaud.
Despite the challenging startup funding landscape, Koa successfully closed the Series B round, a testament to its alignment with investors who share the vision of expanding impact within the cocoa industry.
"We are proud to have closed our Series B round in this challenging market environment for start-up funding while at the same time having found once more like-minded investors that are fully aligned with our mission and ambition to expand and create more impact around the cocoa fruit," said Fabien Nizard, Head of Corporate Finance and Investor Relations at Koa.
Koa won the first step of Venture Kick in 2018.
Koa's factory
Koa's Series B funding round, amounting to USD 15 Million, takes its total funds raised to USD 25 Million. The startup, specializing in upcycled cacao products, received support from both existing and new investors in this latest investment cycle: The Land Degradation Neutrality (LDN) Fund, the Regenerative Growth Fund 1, and Mirabaud.
Despite the challenging startup funding landscape, Koa successfully closed the Series B round, a testament to its alignment with investors who share the vision of expanding impact within the cocoa industry.
"We are proud to have closed our Series B round in this challenging market environment for start-up funding while at the same time having found once more like-minded investors that are fully aligned with our mission and ambition to expand and create more impact around the cocoa fruit," said Fabien Nizard, Head of Corporate Finance and Investor Relations at Koa.
Koa won the first step of Venture Kick in 2018.
Koa's factory