Pelacca Brands, a Kenyan candy manufacturer known for its lollipops, has secured Ksh. 12 million in funding from Kua Ventures, a faith-driven impact investor in Kenya. The investment will enable Pelacca Brands to expand its operations by tripling its production capacity, enabling the enterprise to grow and offer more employment opportunities to Kenyans.
Pelacca Brands was co-founded in 2018 by Irene Ndinda, a passionate entrepreneur with a deep love for lollipops. Speaking during the signing event, Irene said the investment by Kua Ventures will enable Pelacca Brands to grow and realise its vision as it aims to be an industry leader in innovation and the production of sweets.
“To us at Pelacca Brands, this new investment means growth. We are hopeful that our business and workforce will grow, and we will continue to create more impact in our society by transforming people’s lives,” said Irene.
On his part, Kua Ventures Executive Director, Peter Fry, said the investment in Pelacca Brands reaffirms Kua Ventures’ commitment to supporting local SMEs to foster growth and innovation and combat the problems of unemployment and poverty in ways that are sustainable to communities.
“We are excited to partner with Pelacca Brands and play a part in shaping the future of the candy industry in Kenya. Our investment reaffirms our belief in the potential of Pelacca Brands to become a leading player in the candy industry in the country and lead the way in creating stable jobs, which is aligned to the Kua Ventures mission,” said Peter.
Beyond Capital, Pelacca brands will also benefit from Coaching and Community in line with Kua Ventures’ 3C model of supporting SMEs in Kenya. The Coaching component includes mentorship by seasoned local and international entrepreneurs, which enhances the leadership skills of the founders, and enables them to refine their business strategies and navigate challenges that could impede the growth of their enterprises. On the other hand, the Community component involves joining a supportive network of like-minded faith-driven entrepreneurs, where knowledge, resources and entrepreneurial experiences are shared through quarterly workshops and hangouts.
Pelacca Brands becomes the 21st local enterprise to join the growing and thriving Kua Ventures portfolio, coming a few months after the organization announced that it had surpassed USD 1 million in investments committed to local SMEs. Pelacca Brands also becomes the first candy manufacturer in the Kua Ventures portfolio, which includes 20 other enterprises in Agribusiness, Social Commerce, ICT, Media, Waste Management, Health, Construction, Publishing, as well as Manufacturing.
Interested in Kua Ventures funding opportunities? Register your interest here.