Despite the disruption in markets, startups across regions continue to experience significant growth and this does not exclude startups in East Africa. It comes as Kenyan B2B construction tech startup Jumba, which enables construction material retailers to secure clients in major regions of the East African country announced that it has raised a new fund in a seed round less than a year after launch.
It’s worth noting that the subject startup witnessed three times quarterly growth at the close of 2022, having aided real estate developers and more to access the supplies they need for their projects. Aside fintech, startups in other fields notably in the subject market are believed to broaden their reach.
As the company doubles down in its effort to keep up with the growing demand for construction material, it is scaling up operations in the country by covering 60% of Kenya’s 47 counties according to the company’s co-founder and CEO ‘Kagure Wamunyu’, a source familiar with the matter has confirmed.
The latest round was led by LocalGlobe, with participation from Enza Capital, which led the company’s $1 million pre-seed round last year. Foundamental, Logos Ventures, Seedstars International Ventures, SpeedInvest, First Check Africa, and Alumni Angel Network.
“We are growing very fast, and our problem has always been that we have way more demand than we can meet”, Startup Jumba’s co-founder and CEO Wamunyu said.
“Most of our customers are in counties beyond the capital, Nairobi, and the reason is that manufacturing is centralized in Nairobi, but customers are located throughout the country, and that is where we come in because we help with distribution”, she said.
Startup Jumba which was co-founded with ‘Miano Njoka’ (CTO), started out by serving retailers but afterward began supplying construction materials to developers, which Wamunyu made clear was brought to the limelight based on demand.
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