*Data updated daily at 18:00 EAT
Jumba, a b2b construction technology platform, has secured USD 1 Mn pre-seed funding to fine-tune its technology and expand its reach to capture markets in major cities across Kenya. The round was led by Enza Capital with participation from Seedstars International Ventures, Chandaria Capital, Future Africa, Logos Ventures, First Check Africa, and a number of angel investors.
Jumba connects manufacturers with retailers and negotiates prices (including their markup) of products with manufacturers. It also allows resellers to pay for orders on delivery and plans to ensure that small hardware stores (which don’t have sufficient storage) will be connected to medium-sized ones near their regions from where they can easily update their inventories, taking away the pressure for spatial expansion.