Kenyan data collection startup Bamba has closed its first seed investment round at US$1.1 million, with the company planning to expand its product offerings and its reach around Africa.
Launched three years ago, Bamba deploys technology to help organisations increase their efficiency. The startup’s SMS, app and web data collection software enables clients to communicate, survey and obtain feedback from beneficiaries, clients, suppliers and the public.
The past year has been busy for the startup. Bamba was accepted onto the Techstars Austin accelerator in February last year – becoming the first East African company to join the programme. In November, Bamba raised KES25 million (US$250,000) having taken part in the televised Lions’ Den show – the Kenyan version of the popular US pitching show Shark Tank.
Bamba today announced it has closed its seed investment round, totalling US$1.1 million. The startup claims this is one of the largest seed rounds ever raised in East Africa.
The funds will be put towards developing new innovative data collection solutions, supporting a larger number of clients, and expanding its team and geographical reach.
The full list of the startup’s 15 investors has also been released. The list includes Techstars Austin 2013 LLC, as well as the Star Powers Partners II LLC fund – which is backed a number of well known investors such as Foundry Group and Draper Associates, among others.
The list is completed by private investors Brett Hurt; Rishi Varma; Saurabh Khetrapal; Jason Reneau; Alykhan Nathoo; Scott Kosch; Faisal Jiwa; Ed Keller; Aadil Mamujee; Dale Mathias; Edward Mathias; Claude Wasserstein; and Shamir Jiwa.
