Ten top startups based in Kenya tapping big money deals
M-Kopa is among the most exciting Kenyan startups focusing on getting low-income people to access affordable energy solutions.
The firm provides a “pay as you go” model to customers who are currently off the national energy grid.
So far, M-KOPA has received startup funding from 23 investors, who have collectively invested a total $188.6 million (Sh21 billion).
Bringing energy to the disadvantaged is a worthy cause and the business is doing that successfully.
Formed in 2011, the firm is headquartered in Nairobi with Chad Larson, Jesse Moore and Nick Hughes as founders.
This is an agriculture e-commerce startup that was founded in 2013 and is currently headquartered in Nairobi.
The company provides a platform that connects farmers and other produce manufacturers with retailers in urban areas.
To make everything easier, they use a mobile, cashless system to conduct business.
Twiga Foods provides a great service connecting businesses that need each other and investors have clearly agreed with this assessment.
To date, the company has managed to amass a total of $101.7 million (Sh11.855 billion) in start-up funding.
This was achieved from a total of 19 investors. The founders are Grant Brooke and Peter Njonjo.
This is an e-commerce startup that was founded in 2012 and is currently headquartered in Nairobi, Kenya.
The company provides a platform for customers to order through an online catalogue.
Customers are then able to pick up their items from a range of different companies throughout the area.
The ease of the solution and the extent of the problem it solves has led to the company attracting a notable amount of investment.
So far, the company has managed to raise a total of $53 million (Sh5.866 billion) from a group of ten investors across six rounds of startup funding. The founders are Jonathan Lewis and Tracey Turner.
This is a fin-tech startup founded in 2013 and is currently headquartered in Nairobi, Kenya.
The company utilizes blockchain technology to allow its customers to conduct the digital foreign exchange of currencies and make payments.
Since it was founded in 2013, the company has gone on to be one of the most heavily invested among Kenya startups.
So far, the company has attracted a total of $50 million (Sh5.534 billion) in startup funding from a group of twelve investors.
The founders of this firm are Amy Ludlum, Charlene Chen and Elizabeth Rossiello.
Sendy is a B2B (Business-to-Business) delivery startup that was founded in 2014 and is currently based in Nairobi, Kenya.
The company’s solution focuses on addressing problems with last-mile logistics in Africa.
Sendy has received a significant amount of startup funding, especially considering the size of the local market. So far, the company has managed to raise a total of $26.5 million (Sh2.933 billion) from a group of 13 investors.
The founders are listed as Don Okoth, Evanson Biwott, Malaika Judd and Meshack Alloys.
This is one of the most exciting fintech startups and specializes in providing debt financing to other fintech startups in less-developed, but still high-potential markets.
They build and offer a range of robust and accessible financial products to companies, whilst giving investors a way to connect with startups that they may want to invest in.
Lendable has managed to attract a notable amount of outside investment since being founded in 2014. So far, the company has raised $12 million (Sh1.328 billion) from a group of seven investors.
The company has also been active in the investments market, making a total of eight investments into fintech companies. The founders are Arjun Batra,Daniel Goldfarb and Dylan Fried.
This is a transportation technology startup that was founded in 2016 by Kamal Budhabhatti, and is currently headquartered in Nairobi.
The company is very similar to Uber, in the sense that they allow independent drivers to ferry people, whilst providing more convenience for travelers.
Customers can use the app to hail a ride from one of these independent drivers and save time looking for a taxi.
Despite the fact that the company has a very similar business offering to Uber, the company has managed to convince investors that it has the potential to stand out.
This is due to the fact that the company managed to raise $10 million (Sh1.106 billion) in startup funding during 2018.
Africa’s Talking is a mobile and telecommunications startup that was founded in 2010 and is currently headquartered in Nairobi, Kenya.
The company combines and provides solutions across Africa as a whole for two-way Short-Message-Service (SMS), audio calls as well as solutions for USSD.
The company has managed to achieve a great amount of startup funding since being founded by two MIT (Massachusetts Institute of Technology) graduates.
To this end, the company has managed to raise $8.6 million (Sh941.8 million) in startup funding from a group of five investors, with the company also investing in cloud technology startup Angani in 2015.
The founders of this startup are listed as Eston Kimani and Samuel Gikandi.
PayGo is a clean energy startup that was founded in 2014 and is currently based in Nairobi, Kenya.
The company provides solutions allowing customers to buy gas from one of their cylinders when they need it.
That means, as long as they can pay, they will never run out of gas to cook with. Customers can also track and manage their consumption.
So far, the company has received funding from a group of 11 investors. This investment has earned the company a total of $8.5 million (Sh940.7 million).
These investors include the US Agency for International Development and Energy Access Ventures. The founders are Fausto Masigot, Mike Hahn and Nick Quintong.
AJUA is a cloud computing startup that was founded in 2012 and is currently based in Nairobi, Kenya.
They have created a mobile-based survey system that allows businesses to collect intelligence on customers, reduce customer losses and improve customer service during their operations.
The company has attracted a group of 11 investors who put in a collective $3.5 million (Sh387.3 million) to further the growth of the company.
The company has also had one move in the acquisitions market, taking over WayaWaya recently. Kenfried Griffith and Louis Majanja are the brains behind this startup.
Kune is a food and beverage startup that was founded in 2020 and is currently based in Nairobi, Kenya.
The company is a manufacturer of high-quality ready meals that can be taken away and delivered.
The company is currently working on creating a facility that can create 5,000 meals per day- which will further stimulate the growth of the Kenyan startup.
The company’s food has clearly been turning heads in Kenya, considering the rapid growth of the company has convinced investors to part ways with $1.1 million (Sh121.7 million) startup funding the company’s pre-seed round. Robin Reecht is the founder of this startup.