Kenya’s Sokowatch Raises Further $2.5m Funding, Expands to Rwanda, Uganda
Wednesday, July 31, 2019
By Tom Jackson
Launched in 2016, Sokowatch allows storeowners to order fast-moving consumer goods at any time through SMS or mobile app for same-day delivery. It has already delivered over 500,000 orders to over 10,000 retail shops across Kenya and Tanzania, and has been growing rapidly over the last 12 months.
The startup raised a US$2 million seed round led by 4DX Ventures last July, and in February took in a second US$2.5 million tranche of seed funding after beating performance targets for 2018. The oversubscribed round included follow-on investment from all major existing shareholders, along with a handful of new investors including Breyer Labs, the investment arm of Breyer Capital, and Helios Investments managing partner Babatunde Soyoye.
Photo courtesy of diaznash.