Kenyan agritech startup, Twiga Foods, is facing insolvency filed by Incentro Africa for failing to remit KES 39 million ($263,691) owed for Google Cloud Services and Partner Service Funds. A court ruling is expected today on whether liquidation proceedings will proceed. Twiga Foods disputes the demands, calling them "premature" and alleging ulterior motives. The startup recently laid off employees and shifted its sales model amid economic challenges, but its CEO denies rumors of shutting down Ugandan operations. Twiga Foods has raised over $157 million from investors, with its most recent funding round being a $50 million Series C in November 2021.
📉💰 #TwigaFoods #Agritech #DebtTrouble
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