Adbot, a South-Africa based startup, has raised US$500,000 (ZAR7 million) in a funding round to expand its customer base.
The investment was made by Enygma Ventures, an investment fund for female entrepreneurs and women founders focused on Southern and Eastern Africa.
Adbot was launched in 2019 to provide online advertising solutions and supportive tools for business owners of small and medium-sized enterprises (SMEs) in Africa, thereby giving them access to new markets.
In less than 10 minutes, Adbot creates Google Ads account and sets up adverts for its customers with the help of machine learning.
It continually manages the adverts, which in turn leads to increased visibility for its customers.
Speaking on the company’s unique product and plans to expand based on the funding, Michelle Geere, CEO, Adbot, said:
“Adbot has a really solid product and tech stack so, with this funding, we will focus on growing our user base.
We will be reaching out to every small business owner in South Africa as a start, from the braai shack in Gugulethu, to the unique investment company in Sandton.
If you have a business, you need Google Ads in order to be found and Adbot is the most cost-effective and efficient way to do this.”
Highlighting Adbot’s unique product offering and what it means for Africa, operating partner of Enygma Ventures, Lelemba Phiri, said,
“Having worked with SMEs on the continent for over a decade, we are keenly aware of their challenges, with market access being chief among them.
Adbot’s potential in solving this issue for small business owners in Africa is immense and exciting.”
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