Sokowatch, a Kenyan B2B eCommerce startup has raised $14 million series A funding led by Quona Capital. Also joining the Sokowatch investment are Amplo, Breyer Capital, Vertex Ventures, Timon Capital and 4DX Ventures.
Sokowatch according to reports will use the new investment to digitize Africa’s business-to-business (B2B) supply chain. This will include broadening their client services, transitioning from working-capital to data-analytics.
Founded in 2016, Sokowatch enables informal retailers to order products at any time via SMS or mobile app, and receive free same-day delivery to their store. This makes it easier for shopkeepers to source goods and helps manufacturers ensure that their products are consistently available to consumers.
The eCommerce platform also leverages historic purchasing data, to provide retailers with access to credit and other financial services typically not available to informal businesses.
Sokowatch’s systems track real-time sales and orders across thousands of stores. Access to market trends and purchasing habits enables manufacturers to tailor their marketing strategies and allows Sokowatch to offer personalized promotions and business insights to individual retailers.
Sokowatch CEO Daniel Yu said: “We’re looking to build out the largest B2B e-commerce network across Africa with the Series A. We plan to broaden our client services — from working-capital to data-analytics — and target new African markets.
