Wee Media, the Pan-African digital media company with teams in Kenya and Nigeria, has raised USD 400 K in a seed round.
Japan’s Samurai Incubate, Hong Kong-based Grenfell Holdings, and a pair of US-based investors; Knarrs Ventures and Jim Waltrip, participated in the seed round.
Wee Media is the publisher of fast-rising African publications and the creator of several digital products churning out top quality content revolving around tech, businesses, startups, gadgets, and the African economy in general.
“With support from our diverse group of investors and a rockstar team, we have been able to pivot the company around in the last six months from an advertising-driven media company to a subscription-led data and intelligence company,” says Rishabh Lawania, CEO of Wee Media.
He adds, “The vision of the company is to fix the broken business journalism in Africa and bridge the data gap. For more many years, companies like Dow Jones, Bloomberg, and Pitchbook have been tracking the global private markets but African data and content are considerably ignored. There’s so much happening in the PE/VC and M/A space across the continent and we are trying to be the platform that puts Africa first.”
Wee Media boasts a portfolio that includes AfriCo, a business intelligence platform for financial data and information on African private and public companies. It also runs East Africa’s leading consumer electronics media, Gadgets-Africa.
Since launching in 2018, Wee Media’s flagship platform, WeeTracker, has hit the ground running, reached millions of readers across the globe, and is reimagining African journalism with its newly unveiled paywall and subscription offer.
While Gadgets-Africa is a revenue-funded product that is now scaling to other East and South African countries within the first 13 months of its launch, AfriCo (previously The Base), is a SaaS business that provides intelligence, research, and financial data on private and public companies in Africa.
Commenting further on the funding milestone, Rishabh Lawania, CEO of Wee Media, states thus:
“Not many investors look at Africa as a market and there is only a handful of people who think of data and intelligence as an investable space. We have been lucky enough to attract global investors in the past and the present as we go on to raise our Pre-Series A to further strengthen our technology, expand our team and chase profitability as we enter our third year of operation soon,” says Lawania.