Kenya's economy has been growing significantly due to the increase in the number of business startups. Startups are coming up each day and competing with others across the world. Nairobi, Kenya's capital, is the silicon valley of business startups with two Kenyan startups receiving global recognition.
The following are top-funded business startups to watch.
M-Kopa was founded in 2011 by Jesse Moore, Chad Larson and Nick Hughes. M-Kopa provides energy services and incorporates the service with mobile payments. The firm has connected over 700,000 homes with energy, by providing them with a solar rechargeable battery, lights and phone chargers.
The firm has so far received $152 million funding. It has so far had $38 million venture funding. Some of its investors include FinDev Canada, CDC, and Generation Investment Management.
Cellulant is a FinTech digital payment platform that ensures security and fast money transfers. It was founded in 2004 by Bolaji Akinboro and Ken Njoroge. The firm is offering services by integrating trade with payment services into one platform.
So far, the firm has received a funding of $55 million from various investors. Among them are The Rise Fund, Statya Capital and Endeavor Catalyst.
Read also: Top funded African startups.
CarePay is a FinTech firm operating in Kenya, founded in 2015. It is an e-health enterprise that is seeking to improve access to health care through machine learning technology.
The firm has received funding amounting to $45 million. Some of its top investors include PharmAcess Group and ELMA Investments.
4. Twiga Foods
Twiga Foods was founded in 2014 by Grant Broke and Peter Njonjo. The firm works in collaboration with farmers and vendors to supply fresh food produce in town centers. Customers order groceries using a mobile phone.
It has received a funding of $44 million. Some of its top investors include TLcom Capital LLP, DOB Equity, Wamda Capital, Google Launchpad Accelerator, International Finance Corporation and Adolph H Lundin.
Read also: Top fintech startups worldwide.
5. Copia Global
Copia Global was founded in 2013 by Jonathan Lewis and Tracey Turner. It is an e-commerce platform that serves consumers located in rural areas. The platform allows its customers to order goods through a mobile. Products are then delivered to the customers regardless of how interior they are. It is a unique startup that is serving rural areas.
The firm has so far had funding amounting to $22 million.
6. Africa's Talking
Africa's Talking was founded in 2010 by Sam Gikandi and Eston Kimani. It is a telecommunication firm that allows its customers to send SMS, make voice calls, load airtime and make payments through mobile money.
The firm has so far received funding amounting to $8.5 million from its investors. Among its top investors include IFC Venture Capital Group, Orange Digital Ventures and Social Capital.
Read also: Top negotiations skills in business.
BitPesa was founded in 2013 by Amy Ludlum, Charlene Chen and Elizabeth Rossiello. It is a FinTech startup that is dealing with foreign exchange. It also a payment platform through blockchain, thus reducing the costs accruing from transactions.
The firm has funding amounting to $7.2 million as its main investor is Sompo Holdings.
8. Lori Systems
Lori Systems was founded in 2016 by Ernest Josh Sandler and Gichini Ngaruiya. It is a logistics company operating in Kenya and Uganda. The firm has improved supply chain management through efficient and effective cargo transportation.
The firm has a capital investment of over $6.2 million.
WeFarm was founded in 2015 by Kenny Ewan. The firm brings farmers together so that they can exchange ideas and promote agricultural innovation. This way, farmers can increase production, source seed, fertilizers and get loans.
The firm has so far raised over $5 million. Some of its top investors include WordPress, True Ventures, Blue Bottle, Skype, Norrsken Foundation and Accelerated Digital Ventures.
10. Paygo Energy
Paygo Energy was founded in 2015 by Mike Hahn, Nick Quintong and Fausto Marcigot. The firm deals with the distribution of gas in homes. The firm has developed a smart way of measuring gas consumption. It can also forecast when the gas will run out and customers pay for the gas before using it.
The firm has received over $3.5 million funding.
11. Little Cab
Little Cab was founded in 2016 by Kamal Budhabhatti. It is a ride, can bodaboda and shuttle service. It is in operation within Kenya, Uganda and Zambia. The firm does not rely on its vehicles, but it brings together vehicle owners and bodaboda operators.
The firm has received over $3 million in funding.