Kenyan social enterprise startup Raino Tech4Impact has gotten USD 100 K in equity investments for emerging as the winning team for a pitch event organized by Samurai Incubate Africa and Growth Africa.
The firm which leverages technology as an enabler to empower African communities came out as the best among 11 eleven startups who pitched their solutions to a panel of judges for a chance to win the grand prize.
The Samurai Incubate Africa pitch event is part of the group’s efforts to select regional startups for a fund of USD 3.4 Mn. The event which also saw the participation of Leapfrog Ventures, gave audience to other startups such as Bluewave, TalkLift, Hoji, Tovuti, Julla, OZE, Medbit, Uzapoint, and Afrijob.
At the close of the pitch-off, the panel, led by Samurai Incubate Africa CEO Takuma Terakubo, chose Raino Tech4Impact as the winner of Africa’s Notable Startup Pitch Event. He explained that the startup emerged as the winner because of its impact on the continent.
In Africa the population is growing very fast and the problem of food shortage and wastage is also growing and is now a very big problem and the point is how much of a difference, we can make in investing a particular startup.
We focus on this problem too and we are from Japan where a lot of Japanese companies invested in our fund and then we invest in Raino Tech4Impact So I felt we can have more synergies between us and help grow this business and make it bigger,” Takuma explained.
Francis Nderĩtũ, the Managing Director of Raino Tech4Impact, expressed grateful for being selected as the winner of Africa’s Notable Startup Pitch Event and said the money will go a long way in helping local fishermen improve their livelihood.
“I am very surprised to have been selected as the winner, I honestly didn’t expect it because I was very late and I even used a boda boda to get here. I am very happy because this money will go towards helping those people who are at the bottom of the pyramid to compete with a lot of fish imports.
This money will give them a leverage to have an edge in competing power and be able to sell their fish more effectively and at the end of the day be able to grow and improve their livelihood,” said Francis.
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