Kenyan startup company, Tushop, has secured a Ksh300 million funding after participating in pre-seed funding led by global investors.
The agriculture tech company was founded in 2019 by Cathy Chepkemboi and connects Kenyans with various fresh products.
Addressing the press on March 30, 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.
On her part, Chepkemboi stated that her company would use the money to expand its operations across the country.
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.
"There is a need for more warehouses and delivery trucks. We are hiring and also improving our technology and our agents’ channels to make the experience even better,” she stated.
The entrepreneur added that she was motivated to start the business having observed the supply chain of various commodities in Kenya.
“I was in the field distributing products and could see what happens on the ground and I could immediately tell that if we were in direct contact with the customer, the cost would be lower and we could do more targeted promotions or marketing.
“We provide predictive delivery of affordable high-quality goods including fresh produce. And the way we’re able to do this is by working with community leaders, who gather orders from the neighbors and manage last-mile delivery," she stated.
