# Lula funding: rounds and investors > Lula has raised $85M across 3 rounds since 2023. Investors include FMO, Plug and Play and Khosla Ventures. Every round with its source. Source: https://millionrounds.com/company/lula (Millionrounds; every figure on the page links to its filing or article) South Africa · [Growth startup](https://millionrounds.com/companies) # Who invested in *Lula* 3 rounds we have observed, with the 8 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. AI B2B Fintech Raised 9 months ago Follow Lula and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Flula) Funding summary Updated 5 Nov 2026 **$85M** raised across 3 rounds since 2023, from 3 sources **$36M** Series B **$28M** Series A **$21M** Growth - **Latest round:** Growth, $21M Feb 2026 - **Led by:** FMO - **Biggest round:** $36M Series B · Aug 2023 - **Investors:** 8 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2024 2025 2026 **$36M** Series B **$28M** Series A **$21M** Growth - **First round:** Series B, $36M - **Biggest round:** $36M - **Usual gap between rounds:** 18 months [**Lula** AI 1 / 10 Their pitch deck **Lula's pitch deck, 10 slides** Each slide read for what it argues, against the decks that raised at the same stage.](https://millionrounds.com/decks/lula) ## The rounds - **Feb 2026** Growth **$21M** *1 new* [FMO](https://millionrounds.com/fund/fmo) Lead Reported by Disrupt Africa - **Feb 2025** Series A **$28M** *2 new* [PeakSpan Capital](https://millionrounds.com/fund/peakspan-capital) [RET Ventures](https://millionrounds.com/fund/ret-ventures) Source recorded - **Aug 2023** Series B **$36M** *5 new* [Plug and Play](https://millionrounds.com/fund/plug-and-play) [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) [Founders Fund](https://millionrounds.com/fund/founders-fund) [Florida Funders](https://millionrounds.com/fund/florida-funders) [Shrug Capital](https://millionrounds.com/fund/shrug-capital) Source recorded SEC filing: $33M sold, first sale Jul 2023 ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Series B** 2023 **Series A** 2025 **Growth** 2026 [FMO](https://millionrounds.com/fund/fmo) L [Plug and Play](https://millionrounds.com/fund/plug-and-play) [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) [Founders Fund](https://millionrounds.com/fund/founders-fund) [Florida Funders](https://millionrounds.com/fund/florida-funders) [Shrug Capital](https://millionrounds.com/fund/shrug-capital) [PeakSpan Capital](https://millionrounds.com/fund/peakspan-capital) [RET Ventures](https://millionrounds.com/fund/ret-ventures) ## Everyone who backed them [FMO](https://millionrounds.com/fund/fmo) Government **1** round, led 1 [Plug and Play](https://millionrounds.com/fund/plug-and-play) Accelerator **1** round [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) VC firm **1** round [Founders Fund](https://millionrounds.com/fund/founders-fund) VC firm **1** round [Florida Funders](https://millionrounds.com/fund/florida-funders) VC firm **1** round [Shrug Capital](https://millionrounds.com/fund/shrug-capital) VC firm **1** round [PeakSpan Capital](https://millionrounds.com/fund/peakspan-capital) VC firm **1** round [RET Ventures](https://millionrounds.com/fund/ret-ventures) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=lula). ## Also claim to have backed them These 5 firms list Lula as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Accion Venture Lab](https://millionrounds.com/fund/accion-venture-lab) VC firm Per its own site [Taylor Hou](https://millionrounds.com/fund/taylor-hou) Angel Per its own site [Reshape](https://millionrounds.com/fund/reshape-ventures) VC firm Per its own site [Victorum Capital](https://millionrounds.com/fund/victorum-capital) VC firm Per its own site [Sleeping Bear Capital](https://millionrounds.com/fund/sleeping-bear-capital) Private equity Per its own site ## Quick answers about Lula ### Who invested in Lula? Lula's investors include FMO, Plug and Play, Khosla Ventures, Founders Fund and Florida Funders, and 3 more on record. FMO led its latest round. ### How much has Lula raised? Lula has raised $85M across 3 rounds since 2023. ### When did Lula last raise? Lula's most recent round was a Growth of $21M in Feb 2026, led by FMO. ### What was Lula's biggest round? Lula's largest round on record is $36M (Series B), in Aug 2023. ### Who backed Lula first? Lula's first round on record, in Aug 2023, was backed by Plug and Play, Khosla Ventures and Founders Fund and 2 others. ### What stage is Lula at? Lula's latest named round is a Growth, in Feb 2026. ### Where is Lula based? Lula is based in South Africa. ### Who led Lula's rounds? FMO led the Growth in 2026. ## Companies like Lula In the same sector, and raised in the last eighteen months. [**Kuunda** $13M · Oct 2026](https://millionrounds.com/company/kuunda)[**HealthLeap** $38M · Oct 2026](https://millionrounds.com/company/healthleap)[**Tennsa** $61K · Aug 2026](https://millionrounds.com/company/tennsa)[**Shiprazor** $2.6M · May 2026](https://millionrounds.com/company/shiprazor)[**AI Diagnostics** $5.2M · Apr 2026](https://millionrounds.com/company/ai-diagnostics)[**LittleFish** $9.5M · Mar 2026](https://millionrounds.com/company/littlefish) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app