Seed Funds for Emerging Market Intel Platform Rwazi

US-based emerging market intelligence platform Rwazi has raised $4m in a seed round of funding, which it will use to continue expanding its network of local consumers, with a focus on Africa, South Asia and LATAM.

Founded in 2021 by business consultants Joseph Rutakangwa and Eric Sewankambo, Rwazi now provides multinational companies with data from emerging markets on who is buying what, for how much, from where, when, and why. The firm taps into a network of more than 50,000 local consumers called 'mappers', spread across over 50 countries in Africa, Asia and South America, to collect real-time data from retail outlets, homes, and individual consumers.

New funding was led by Bonfire Ventures, with participation from Newfund Capital and Alumni Ventures. Rutakangwa told news site www.techcrunch.com : 'By using Rwazi, multinationals access data to help them drive revenue and expand. Because brands are getting data from the horse's mouth and can see how consumers are making purchasing decisions, they can do hyper-local messaging, pricing and packaging We are rolling out new products this year that support different languages, because this has been a barrier to our growth in these regions'.

Web site: www.rwazi.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.