Shop Zetu, a fast-growing fashion marketplace based in Kenya, has secured $1 million in pre-seed funding to fuel its ambitious expansion plans across Africa.
The funding round was led by Chui Ventures, with participation from Launch Africa Ventures, Roselake Ventures, and Logos Ventures. Notable angel investors who also contributed to the funding include Kendall Tang (CEO of RT Knits Ltd), Ben M. (co-founder and CEO of Nadine West), Sumit Bhasin (The Estée Lauder Companies Inc.), Patricia Ithau (CEO of WPP Scangroup), and Peter Njonjo (co-founder and CEO of Twiga Foods).
Shop Zetu’s latest round of investment marks a significant milestone for the company as it aims to revolutionize the fashion e-commerce landscape in the region. Founded in 2021, Shopzetu’s online platform connects fashion-conscious consumers with a wide range of trendy and affordable clothing, footwear, accessories, and beauty products.
The marketplace has gained popularity for its curated selection, convenient shopping experience, and reliable delivery services. With a focus on democratizing fashion and empowering local designers and vendors, Shopzetu has positioned itself as a platform that showcases and promotes African fashion and creativity.
The Council for Scientific and Industrial Research (CSIR) has secured a $4 million investment from the Bill & Melinda Gates Foundation to drive skills and health innovation.
Endeavor Kenya, a non-profit organization that supports high-impact entrepreneurs, has announced the launch of the ScaleUp Program, its inaugural cohort-based initiative for high-growth founders in East Africa.
Synapse Analytics, an Egyptian artificial intelligence (AI) startup, has secured a $2 million investment to expand its AI-powered solutions across the Gulf Cooperation Council (GCC) and Africa.
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