ImpactAlpha, July 29 – Indonesian cocoa farmers only earn $3 per day on average because the traditional cocoa value chain is slanted in favor of chocolate manufacturers.
Krakakoa is among a growing number of niche chocolate makers working to improve smallholder cocoa farmers’ livelihoods through direct sourcing, fair pricing, and training on farm productivity and environmentally-friendly growing practices. It also runs a production facility that trains and hires female factory workers.
Singapore-based Impact Investment Exchange (IIX) led Krakakoa’s funding to help the company scale up its farmer network to 1,000 farms and grow its factory workforce.
IIX, which often facilitates deals, backed the company through its growth fund. LIC VC and Jeremy Oppenheim, founder of sustainable investment fund SYSTEMIQ, also participated. The size of the round was not disclosed.
