Leapfrog Ventures has made a $50,000 investment into Kenya's SaaS startup BiasharaBot. This is according to reports from The Bridge [in Japanese].
"Leapfrog Ventures announced that it has invested $ 50,000 in Biashara Viral Gains, which develops sales management SaaS "BiasharaBot" that delivers products from sellers to consumers based on social commerce," wrote The Bridge.
Founded in 2017 by Moses Kibet Korir and Felix Cheruiyot, BiasharaBot describes itself as a startup that helps "clients side business thrive by using an AI-powered bot [to] handle enquires, close sales and receive payments."
"We provide a dashboard where users can easily add their brand, manage inventory and track sales. BiasharaBot can be used for food order & delivery and E-Commerce firms."
According to The Bridge, BiasharaBot will use the funds to work on a plug-in for various e-commerce platforms.
"Biashara plans to release and release a plug-in for e-commerce platforms such as Shopify, Woo Commerce, Magento, and others around 3 months after," a translated version reads.
Additionally, they are looking to increase their number of clients to 1000 stores, though they did not state their current number. Beyond that, the startup hinted on an interest in expanding into South Africa as well as the Nigerian markets.
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"Along with expanding services in Kenya, I am willing to expand into the population of Nigeria and South Africa, especially in the Sub-Saharan Africa market in the future," wrote The Bridge.
BiasharaBot has before participated in the Pangea accelerator in April this year where they also secured $50,000 afterward. So, this recent investment from Leapfrog Ventures becomes their second in less than six months.
For Takumo, this is the second deal he is making in less than 6 months after setting up Leapfrog Ventures in Africa. His first was a $50,000 investment in Rwanda-based Exuus.
Leapfrog ventures was set up as a joint effort between Takuma and Tokyo-based startup incubator Samurai Incubate - where he previously worked. The fund is worth $4.5 Million and looking to invest in at least 80 startups across Africa.
The target markets are Rwanda [where he is based], Uganda, Tanzania, Kenya and South Africa.
Last week, he was in Kampala, Uganda for the Kampala Innovation Week where he is believed to have picked interest in at least two fintech startups. These he is going to write cheques in the regions of between $50,000 to $100,000.
The conversations are said to be in final stages and we have reached out to him to get further details on the Ugandan deals.