Kenya based Sokowatch aims to shake up the supply chain market for Africa’s informal retailers.
The B2B e-commerce company closed a $2 million seed investment led by 4DX Ventures. Others to join the round were Village Global, Lynett Capital, Golden Palm Investments, and Outlierz Ventures.
Sokowatch’s platform connects Africa’s informal retail stores directly to local and multinational suppliers—such as Unilever and Proctor and Gamble—by digitizing orders, delivery, and payments with the aim of reducing costs and increasing profit margins.
The term disrupt is used less frequently in African tech since startups are often entering new business spaces where there’s little to actually disrupt.
That’s not the case with Sokowatch, which sees price and productivity benefits to revamping existing supply chain structures for Africa’s informal retailers.
“With both manufacturers and the small shops, we’re becoming the connective layer between them, where previously you had multiple layers of middle-men from distributors, sub-distributors, to wholesalers,” Sokowatch founder and CEO Daniel Yu told TechCrunch.
“The cost of sourcing goods right now…we estimate we’re cutting that cost by about 20 percent [for] these shopkeepers,” he said
- Lifestyle3 months ago
Reverse Brain Drain: The reason Kim and Priscilla Addison moved to Ghana to do business
- Food3 months ago
Here Are the Best 10 African Restaurants in New York According To Yelp
- Hair2 months ago
10 Quick Tips to Grow Your Natural Hair
- TV and Movies2 months ago
5 Must Watch African Movies On Netflix (June 2019)
- Hair1 month ago
Easy Natural Short Hair Faux Afro Bun For The Beginner Naturalista
- Business and Development3 months ago
Seychelles Approves Laws For Farming Of 5 Rare Marine Species
- Beauty2 months ago
APAM Mr And Mrs Albinism Beauty Pageant And Talent Show Set For September
- Sports1 month ago
Kalidou Koulibaly Talks About Dealing With Racism And His Journey To The Top