Kenya’s monitoring and evaluation startup Bamba Group could be the Airbnb or Dropbox, a US accelerator which specializes in high potential ideas has said.
The Nairobi-based business founded three years ago, developed a data collection software that can run in any country.
The group which has received Sh110 million in the first round of funding from investors was also selected as the first East African company to be supported by US accelerator Techstars.
The support from Techstars is a prestigious 3-month mentorship programme in Texas. “The experts will put Bamba through intensive training in Austin, Texas, and give them a cash investment to fast-track their growth,” said Bamba Group CEO Al Ismaili.
Real time data
The startup provides real time data for development agencies working in Kenya which is necessary for funding and decision making
The software is used by a number of companies such as Diamond Trust Bank, Aga Khan Foundation and Nairobi Airport Services.
The startup plans to spend the funds on developing new innovative data collection solutions, supporting a larger number of clients, and expanding its team and geographical reach.
The monitoring and evaluation industry has been rapidly expanding to become one of the multi-billion dollar sectors not only in Kenya and but around the world making Bamba Group a very important addition to the market.
“We are very happy to select the first company from East Africa into the TechStars programme. Bamba Group is a testament to our globalised world where a startup from any corner of the planet can rise up, pursue their passion and make a lasting impact on the world.” said Mr Amos Schwartzfarb, TechStars Austin Managing Director.
“Following the initial financial investment from Techstars, companies go on to raise an average of over $3-million in capital after the programme.”