Kenyan start-up lands Sh110 million funding

Technology start-up Bamba Group has announced raising $1.1 million (Sh110 million) in the first round of investment as it eyes expansion into the region.

The firm, launched two years ago in Nairobi to provide data collection and analysis services for companies, has attracted the goodwill of investors in the US and Britain and is now keen to scale operations.

“Having achieved its investment goal for the first seed round, Bamba now looks to the future with plans to put the $1.1 million towards developing new innovative data collection solutions, supporting a larger number of clients and expanding its team and geographical reach,” said the firm in a statement.

Bamba was also featured on Kenya’s pitching reality show Lion’s Den where startups pitched their business ideas and prototypes to a panel of judges made up of local investors for a chance to secure seed capital.

The firm was able to attract Sh25 million in funding from one of the judges, with the management upbeat on the prospects of launching in other countries in the region.