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Location-based addressing app OkHi has raised US$750 000 in funding. The local and international investors include the likes of Silicon Valley-based Garage Capital, and former Google CFO Patrick Pichette among others.
The startup previously raised funding in early 2015 from angel investors to the tune of US$325 000 and a further US$100 000 from the Bill & Melinda Gates Foundation.
As reported by TechCabal, OhKi co-founder and CEO Timbo Drayson is pleased with this new round.
We couldn’t be more excited about the investors who we have on board, not only do they help validate the opportunity ahead of us, but more importantly they bring a huge amount of experience to the business that will be critical to our success.
Founded in Nairobi, Kenya in 2014, the location-based addressing app allows users to geotag their locations and add a photo. This, in turn, creates a virtual address that can be shared via a link.
Without a physical address that works, many people do not have access to fundamental services like deliveries, a bank account or emergency services
The startup and Seedstars World 2014 finalist is working with a number of ecommerce businesses to overcome these delivery problems. Some companies find it difficult to connect with customers due to a lack of proper address systems. OkHi previously partnered with Jumia Kenya to improve their systems for Black Friday deliveries.
“We want to give a physical address to the four billion people in the world without one, so that they can become included in the world and gain access to life-changing services,” added Drayson.
According to OhKi’s co-founder, Wes Chege, the startup has already mapped over 100 000 locations in Nairobi.
The startup is already thinking of expanding beyond just ecommerce and what their product can offer the public. “Think of all the different types of delivery services that would improve with a working address system, from reducing the response time for ambulance services to improving deliveries for couriers,” adds Drayson.