USA – Rwazi, a Wilmington, DE-based market intelligence startup, raised $4M in Seed funding.
The round was led by Bonfire Ventures, with participation from Newfund Capital and Alumni Ventures.The company intends to use the funds to continue expanding its network of local consumers across emerging markets and deepen its insights for global brands trying to understand the 4B+ emerging consumers. It is focusing on its penetration in Africa, South Asia, and LATAM.Founded in 2021 by business consultants Joseph Rutakangwa and Eric Sewankambo, Rwazi is an early-stage B2B SaaS startup whose objective is to provide multinational companies with actionable data from emerging markets on who is buying what, for how much, from where, when, and why, to help them drive revenue and expand. Its consumer network provides insight across industries, ranging from consumer goods and healthcare to telecommunications and financial services. Rwazi crowd-sources data collection through its app, using on-the-ground local consumers (or mappers) who receive compensation for each verified purchase when they share the products they buy, for how much, from where, when and why. In return for their information, including micro-geographic and micro-demographic data, global brands get on-ground actionable intelligence they access via Rwazi’s customer dashboard. There, customers can visualize, graphically or geospatially the data global brands want most. The company has an existing customer base that already includes Fortune 500 companies and leading consulting firms. Rwazi graduated from Techstars Los Angeles accelerator program in June 2022. 23/03/2023
