A Kenyan-based AI-powered e-commerce startup Elloe has raised US$1 million in a pre-seed funding round led by the Philippines-based Mad Ventures to help it expand across the country and other markets.
Elloe is a first-of-its-kind AI-powered, conversational commerce platform founded by Owen Sakawa. It allows SMEs to buy and sell products online across any messaging platform.
“We are very excited and humbled by the opportunity to partner with Mad Ventures and join its growing livelihood ecosystem as digital ambassadors to local Kenyan entrepreneurs.” Sakawa said.
“The new funds will give us sufficient runway to grow our local Kenyan operations and fuel expansion into the Philippine and Southeast Asian markets well into 2023 and beyond.”
“Mad Ventures continues to make major progress in delivering digital livelihood options to the unemployed and unbanked, in response to the demands of businesses and consumers in emerging countries. We are thrilled to be joining Elloe to broaden our collective reach and assist businesses, particularly underserved micro-SMEs, in realizing their full potential,” said Mad Ventures CEO Aaron Madolara.
