Namibia-based B2B e-commerce startup JABU raised $ 3.2 million in a funding round, TechCrunch reported on Thursday (January 6th).
The funding included investors Quiet Capital, Afore Capital, FJ Labs, Y Combinator, FJ Labs, Kli Capital, Pareto Capital and several limited companies.
JABU, which defines itself as a last mile distribution e-commerce company, joins a handful of startups on the continent that help small retail stores order products and provide data-driven services to manufacturers and suppliers. .
The network connects more than 6,000 retailers and digitizes orders, payments and logistics to regional and multinational suppliers such as Coca-Cola, Namibia Breweries Limited, Namib Mills and Bokomo Foods, a South African breakfast cereal company .
Founded less than two years ago, JABU is not only a B2B marketplace, but also a last mile distribution partner, according to the company’s LinkedIn profile.
It offers technology-driven, market-driven development and merchandising for fast moving consumer goods for daily private consumption. The company said it is reinventing the way retailers order, store and receive supplies for their stores in southern Africa.
CEO David Akinin said the Namibian company has a fleet of vehicles and eight distribution centers. Suppliers use the platform to see where their products are being delivered in real time, check performance data, and order goods.
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Last month, PYMNTS reported that the African continent’s startup scene continues to flourish, fueled by the booming FinTech and e-commerce sectors and a young, tech-savvy population.
The number of African tech startups funded between 2015 and 2020 increased by 46%, nearly six times faster than the global average, according to a study by the Boston Consulting Group.