MoringaConnect Inc (DBA True Moringa), the Ghana-based agritech has secured an undisclosed funding round from the impact-focused investment firm, Mirepa Capital.
The company which supplies natural skincare & wellness products and organic bulk ingredients will use the capital to strengthen its local supply chain as well as boost its distribution capacity in the US and the EU.
Founded in 2013 by Kwami Williams and Emily Cunningham, the company has built a supply chain from the soils of Ghana to the shelves of Whole Foods Market in the US. To cultivate and produce the natural skincare ingredients, it works with over small farmers spread across Ghana to kickstart their moringa farms and process the nutritious moringa leaves and oilseeds into moringa-powered superfood beverages, snacks, and beauty products.
True Moringa’s impact goes beyond economic empowerment. So far it has created 80 jobs, served 6,500 women and family farmers, and planted 3 million trees to afforest communities and sequester carbon.
Commenting on the transaction, Kwami Williams, co-founder of True Moringa said “We are beyond excited to partner with MIA toward our bold vision of profitably moving 20,000 farmers from poverty to middle income by 2034. Sadly, the majority of our investments have come from outside of Ghana. It means a lot to me and is important for the ecosystem to see MIA re-write that story: seasoned Ghanaian investing team investing into Ghanaians to do well and do good.”
Source: MIA
