Solving the energy crisis in the country is an ongoing challenge according to Energy and Mineral Resources Minister Gwede Mantashe. The energy minister said…
Nairobi based B2B ecommerce platform Sokowatch has expanded to Rwanda and Uganda after it secured a $2.5-million tranche of seed funding in February.
Sokowatch — which was founded in 2013 by CEO Daniel Yu and COO Josh Middleman — enables informal retailers to place orders via SMS or its mobile app, with free same-day delivery to their shops.
While neither Yu or Middleman or one of the lead investors, 4Dx Ventures responded to request for comment — tech publication Disrupt Africa reported in an article last Wednesday (24 July) that the startup secured its latest investment after it met performance targets for 2018.
Sokowatch was founded in 2013 by CEO Daniel Yu and COO Josh Middleman
According to the same publication, the firm’s main investors participated in the round.
These likely include 4Dx Ventures. Lynett Capital, Golden Palm Investments, Outlierz Ventures and Village Global . Other investors who participated in the round were Helios Investments manager Babatunde Soyoye and Breyer Labs.
Sokowatch is also reported to have expanded to Mombasa and Nakuru in Kenya.
Last year, the startup raised $2-million in a seed funding round led by 4Dx Ventures (see this story). The latest investment brings the disclosed venture capital the startup has raised since launch to $4.5-million.
Featured image: Sokowatch founders Daniel Yu (third from left) and Josh Midldleman (second from right) in a 2015 picture (Sokowatch via Facebook)