Sokowatch Raises USD 125 Mn Series B; Rebrands To Wasoko

Kenya-based B2B e-commerce startup Sokowatch has raised USD 125 Mn in a Series B funding round led by Tiger Global and Avenir Growth Capital l. Other investors in the round include VNV Global, Binny Bansal, co-founder of Flipkart, Sujeet Kumar, co-founder of Udaan, Quona Capital, 4DX Ventures, and JAM Fund. The investment which values the company at USD 625 Mn, coincides with its rebrand to Wasoko.

Sokowatch was launched in Kenya as an asset-light platform and a marketplace for distributing fast-moving consumer goods from suppliers to retailers. The company has now rebranded to Wasoko, a platform that allows retailers from Kenya, Tanzania, Rwanda, Uganda, Ivory Coast, and Senegal to order products from suppliers via SMS or its mobile app for same-day delivery to their stores and shops via a network of logistics drivers.