Breaking NewsGlobal Beehive

$1 M pre-seed funding raised by Kenyan construction tech startup Jumba

Jumba, a Kenyan tech firm aimed at streamlining Africa’s construction supply chain, has acquired $1 million in pre-seed investment to develop a digital business-to-business platform for the largely offline construction industry.

Jumba, which launched in April, connects manufacturers and hardware retailers to improve the efficiency of the building materials supply chain. Hardware store owners that use Jumba’s platform benefit from consistent pricing, a wide range of products, and timely delivery.

“The market has been very receptive to us. We are currently available in Nairobi, and have begun our expansion to Garissa, Nakuru, Njoro and other urban centres across Kenya. We are expanding our work with suppliers to improve the availability of construction materials in Kenya and in East Africa,” said Jumba co-founder and CEO Kagure Wamunyu.

Enza Capital, Seedstars International Ventures, Chandaria Capital, Future Africa, Logos Ventures, and First Check Africa, as well as many angel investors, including startup founders and industry experts, contributed to the business’s US $1 million pre-seed round.

“Africa’s populations are rapidly growing and increasingly urbanising, and the construction industry is a core economic engine supporting sustainable growth Across Africa. In a US $10 trillion industry yet to be reshaped by technology, we are thrilled to be backing Kagure and this exceptional team-building Jumba,” said Mike Mompi, managing partner at Enza Capital.

 

 

SHARE

Related Articles

Back to top button