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Cape Town tech startup secures R7-million in funding
Cape Town-based online advertising tech startup Adbot has secured R7-million ($500 000) in capital raise from Enygma Ventures, an investment funding dedicated to supporting female entrepreneurs and women founders in Southern and Eastern Africa.
Adbot secures R7-million in funding
Lelemba Phiri, operating partner of Engyma ventures provides insight into why they decided to fund Adbot.
“Adbot’s offering is the first of its kind on the market and having worked with SMEs on the continent for over a decade, we are keenly aware of their challenges, with market access being chief among them. Adbot’s potential in solving this issue for small business owners in Africa is immense and exciting.”
Founded in 2019, Adbot provides automated campaign management through cutting-edge machine learning technologies to small businesses. Adbot provides an affordable and much-needed service to enable small businesses to grow their online presence and possibly reach new customers, scaling their businesses and assisting the local economy.
Adbot helps clients set up ads in record time, the tech startup also provides valuable insights and data to their clients from the ad’s pushed out to provide feedback and help them grow their business. Its services are offered through automation and with that it is able to offer its services to SME owners without a set up or monthly fee.
Michelle Geere, CEO of Adbot comments on the tech startups offeirng.
“Adbot has a really solid product and tech stack so, with this funding, we will focus on growing our user base. We will be reaching out to every small business owner in South Africa as a start, from the braai shack in Gugulethu, to the unique investment company in Sandton. If you have a business, you need Google Ads in order to be found and Adbot is the most cost-effective and efficient way to do this.”
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