A Nairobi-based e-commerce platform, Sky.Garden has raised a US$4 million Series A funding in a round that saw participation from SANAD Fund for MSME, Uncovered Fund, and KSK Angel Fund.
The e-commerce startup which currently serves more than 15,000 sellers will use the newly received funds to drive its expansion into East Africa and the Sub- Saharan region.
Founded in May 2017, Sky.Garden is an online marketplace essentially built for African businesses. Through its mobile application, the startup helps to bridge the gap between local merchants and their clients.
As a result, thousands of traders across Kenya are able to sell their products without needing any technical knowledge to expand their geographic reach.
Having built its technology with African merchants in mind, Sky.Garden leverages an extensive logistics network of informal and structured shipping across the continent, ensuring that purchased items are delivered within 24 hours.
Commenting on what the investment means for the startup, Martin Majlund, the CEO of Sky.Garden.
“Sky.Garden’s sole focus is to provide African sellers with best-in-class technology to access and reap the benefits of online commerce. This investment round will allow Sky.Garden to drive impact at scale. I’m looking forward to an exciting new chapter with these great partners pioneering e-commerce with the African entrepreneur in mind.”
Dr. Daniela Beckmann, SANAD board chairperson revealed that SANAD had long been an advocate of the power of technology in achieving financial inclusion and business growth.
“The pandemic has underscored the importance of digital solutions in ensuring flexible, sustainable operations for entrepreneurs. We are very pleased to be joining forces with Sky.Garden, an impactful company expanding access to the benefits of e-commerce to the locally owned businesses that drive the engine of the economy and are at the core of SANAD’s mission.”
According to her, an investment in the startup will enable technology transfer for the benefit of entrepreneurs in the region.
Ashish Patel, a partner at Aavishkaar Capital, said the pandemic had underscored the need for the large but highly fragmented and unorganized retail industry in Africa to access the digital economy.
“Sky.Garden is at the forefront at offering these businesses, transformative tools to fully capitalize on the uniquely African e-commerce opportunity, emerging as one of the leading e-commerce enabling platforms on the continent,” he said.
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