Kenyan startup Duhqa, a B2B platform that offers retail distribution of consumer goods FMCG, Cold Chain and Pharmaceuticals, has secured a US$2 million Seed round aimed at expanding its service offering within Kenya and East Africa
The startup secured US$150,000 in pre-seed funding last year and has now secured a seed round valued at US$2 million led by CrossFund, Roselake Ventures, and Mo Angels, and other existing investors, including Techstars and strategic angels.
“Our goal is to address the gaps in African distribution logistics with the best in logistics, e-commerce, financing and data insights which are needed to build a better, leaner African distribution sector. The significant demand for our solution, an improved way for companies to distribute their goods and services to mass markets in Africa has caught on. We are thrilled to get a boost from returning and new investors at this crucial time. This will enable us to continue making it easier for retailers to trade by connecting them to manufacturers and giving them the resources to be efficient,” says Victor Maina, CEO & Founder at Duhqa.
The round of funding is aimed at developing existing markets, and avail more tech tools to its growing merchant network.
Founded in 2021 by Victor Maina, Davis Angwenyi and Dudu Moilwa, Duhqa is a B2B retail-tech platform that empowers informal African merchants to digitally source and pay for inventory, get delivery conveniently, and access short-term financing.
The startup runs an asset-light model , with a team of 40, but intends to triple its size before the end of the year. It plans to scale across Kenya and the wider East African region
Ben Caldarelli, the co-founder of CrossFund, said he was proud to be investing in Duhqa.“Victor and team have shown that they understand the market, its pain points, and how to best deliver daily necessities to the local communities that need them most. We look forward to supporting Duhqa in scaling their logistics capabilities so that they can widen their impact and continue improving the quality of life of everyday people,” he said.