Kenyan startup Tushop secures ksh300 million funding
Tushop a Kenyan startup company has secured ksh300 million funding after participation in the pre-seed funding led by global investors.
The agriculture tech company founded in 2019 by Cathy Chepkemboi connects Kenyans with various fresh products.
On her part, Chepkemboi stated that her company would use the money to expand its operations nationwide.
Most notable, the entrepreneur revealed that the company would use the Ksh300, 000,000 to improve its infrastructure to meet the increasing demands from Kenyans.
According to Cathy, there is a need for more warehouses and delivery trucks as well as the hiring and improving of technology and agents’ channels to make the experience even better.
The entrepreneur added that she was motivated to start the business having observed the supply chain of various commodities in Kenya. Having been in the field and observed what happens on the ground, she noted that direct contact was needed to the customers in order to lower the cost and also do more targeted promotions or marketing.
“We provide delivery of affordable high-quality goods including fresh produce. And the way we are able to do this is by working with community leaders, who gather orders from the neighbors and manage last-mile delivery,” she stated.
Addressing the press on Wednesday, 4DX Ventures Co-founder Peter Orth, who led in the funding drive stated that the Kenyan company demonstrated the opportunity for growth hence the decision to back the Kenyan startup financially.
He expressed optimism that the company would not only grow in the Kenyan market but also dominate the African market in years to come.
“We’re thrilled to join such a strong team of other investors and advisors to help Tushop become the dominant player in group-buying across Africa. We think that the market opportunity for Tushop is incredibly large and that Chepkemboi is the right founder to go after given her deep understanding of the market, and impressive execution and growth thus far,” he stated