Startup News

Bwala Africa Sets to Raise $8 Million in Series A funding

Bwala Africa - cfamedia

A Nairobi-based logistics startup, Bwala Africa, has secured a deal with an undisclosed European tech firm to develop a new tech platform.

The deal is coming on the backdrop of Bwala Africa opening its Series A round to investors.

With the deal valued at not less than $800,000, the Ugandan start-up aims to raise up to $8 million as it is in various talks with private equity firms and venture capitalists.

According to the Founder and CEO of Bwala Africa, Kennedy Nyabwala has affirmed that the Series A funding will be used in expanding its operation to Nigeria, Tanzania, and Ghana, as well as increasing its number of staff.

Investment in the logistics startup would assist in the development of shipping apps that would further enhance the operations of Bwala Africa.

Nyabwala also affirmed that the start-up completes up to 800 shipments on a daily basis with its client.

This latest investment will ensure that the start-up has a sustainable platform that can execute tens of thousands of transactions giving any time.

Bwala Africa now aims to register over 2000 agents in Kenya that will ensure the right placement of orders while also securing between 6000 and 800 drops per day.

The logistics startup would be part of Bosch and Founders Factory smart mobility accelerator programme, starting on Tuesday, November 5, 2019.

Earlier this year, the logistics start-up had raised an undisclosed amount in an equity investment deal with one of Silicon’s Valley angel investor Justin Caldbeck.

Bwala Africa was founded in 2017, and it aims to expand its operation as the in-house app it uses for the last-mile operation has been limiting its ability to scale operations.


Featured Image: ci.co.ke


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