Africa’s foremost home services app, Eden Life, has completed a $1.4 million seed round. The funding round was led by UK-based LocalGlobe. Some organisations that also participated include Future Africa, Samurai Incubate, Village Global, Rising Tide Africa and Enza Capital.
Eden Life is an Africa’s home services app used for scheduling food, laundry and cleaning services. The seed funding brings Eden Life’s total investment so far to $2 million after the pre-seed support from all of Andela’s original co-founders, and additional accelerator program over the last 18 months.
The recent capital raised will be used to build Eden Life’s in-house technology, and develop world-class kitchens and operations hubs. The new tech-based platform will improve and grow Africa’s service industry.
Eden Life app was established in 2019 by three former Andelans, and nicknamed “the concierge of comfort.” The app was built for busy Lagos professionals who are hard-pressed for a time due to long working hours. This makes them struggle to source dependable, efficient and trustworthy home service providers.
The app offers users a subscription service that delivers high-quality chef-cooked meals, home cleaning, laundry service and as well as tracking progress on all their services. The app is available on Google Play and the App Store. Users who subscribe to one or more of the services can set the frequency of the services they want to be delivered.
An average Eden Life user typically uses two services five times per week and most first-timers usually start off with food delivery before picking up additional services. The target audience includes remote workers, creatives, tech engineers, developers and executives.
Eden Life is removing barriers to finding reliable household services in the city and has already picked up 600+ customers. They have a growing loyal following with a 92 percent monthly retention rate with over 70 percent of new customers coming via referrals.
Eden Life’s proprietary technology platform enables users to continually give feedback on all aspects of service, using data to compile preferences and offer suggestions through user feedback. The app includes delivery time tracking, payments and billing, and user notifications.
The chores are overseen by “Gardeners” – the human side of Eden Life, who are trained professionals who work with Eden Life service providers and end-users to ensure there’s a seamless service and transaction. The app’s robust architecture has enabled Eden Life to deliver more than 60,000 services since its launch.
“For many of our users, if they’re cooking or running errands, they’re not being productive; they don’t want distractions from their work, which is where Eden Life comes in,” said Nadayar Enegesi, Co-Founder at Eden Life and Co-founder at Andela. “We understand this scenario all too well. We are those people – so we basically designed a product with us in mind and realised that collectively, we are a pretty large market in Nigeria and have subsequently scaled Eden with other professionals from all walks of life who need simple tasks done with no fuss.”
Enegesi continued: “While we can’t create more time physically, we are offering access to a platform that delivers a seamless mix of household services so that busy professionals can focus on their work and leisure. We’re excited to scale our platform to offer so much more, and continue to offer some of the highest quality services underpinned by world-class technology and a highly trained team of professionals.”
A vertical integration strategy, fuelled by the seed funding, will ensure Eden can own and manage its entire supply chain and deliver its services without the need for third-party providers by having a physical footprint where chefs prepare meals, laundry can be processed quickly and cleaners receive training to provide a high-quality service.
Having launched with three core services – those most fundamental to making the home a sanctuary – Eden Life will be rolling out many more over the coming months to make the app a one-stop tool to manage household chores and personal life.
“We fell in love with Eden Life’s vision for the future of home services in Africa. A true customer obsession sits at the heart of everything they are building – this is already visible in customer retention and other key metrics,” said Remus Brett, General Partner at LocalGlobe. “As investors, we are always attracted to first-mover companies that launch products in untapped markets. The combination of this advantage with a core team who has proven experience building African tech to unrivaled levels sets Eden Life on an exciting path of growth.”
Recognised as one of the fastest-growing continents globally, Africa is projected to have 100 cities with a population of over 1 million people by 2025. The continent also has the fastest-growing middle class with rapidly increasing spending power, due to its growing tech sector. Eden Life wants to revolutionise the home service market by making life easier for time-poor tech professionals and executives. This will help channel their time into more productive activities and more quality leisure time.
Eden is Africa’s first home services app designed for busy professionals and executives without time to carry out household chores. Launched in 2019, the company delivers the highest quality chef-cooked meals, laundry and cleaning services at the tap of a finger across Lagos.
Autochek Secures $13.1M Funding to Scale Across Africa
Automotive and Fintech company, Autochek has raised $13.1 Million in seed funding to expand its operations across Africa.
Participants in its latest funding round include existing investors such as Golden Palm Investments, Enza Capital, Lateral Capital, TLcom Capital, and 4DX Ventures. First-time investors such as Mobility 54 Investment SAS, the venture capital arm of Toyota Tshusho, and ASK Capital also participated in the round.
Recall that last year, Autochek raised $3.4 Million in pre-seed funding to grow its markets in Nigeria and Ghana. That round also saw TLcom Capital, 4DX Ventures, and Golden Palm Investments in participation. The funding came months after Autochek acquired marketplaces Cheki Ghana and Cheki Nigeria from one of Africa’s largest classifieds Group, ROAM Africa. The company continued its expansion by acquiring Cheki Kenya and Cheki Uganda to expand into East Africa. The company also partnered with CFAO Group to bring its marketplace into the Francophone region.
Cheki was launched in 2010 as an online car classified for dealers, importers, and private sellers in Nigeria. The startup, headquartered in Lagos, expanded operations to Kenya, Ghana, Tanzania, Uganda, Zambia, and Zimbabwe. In 2017, Cheki got acquired by ROAM and joined a list of online marketplaces and classifieds in its network like Jobberman.
Autochek is currently present in five African countries, Nigeria, Ghana, Kenya, Ivory Coast, and Uganda and according to reports, the company has set its sights northwards and southward on the continent towards the second-largest and third-largest economies in Africa, South Africa, and Egypt.
Autochek is an automotive/fintech company that was founded by the co-founder and chief executive of Jiji subsidiary Cars45, Etop Ikpe. Autochek’s platform operates a marketplace-driven model and has a focus on financing and after-sales. The company generates revenue through fees charged on customer transactions and commissions paid by dealers and service shops on the platform, the company also has financing partnerships with banks.
Nigerian Agri-tech Procurement Platform, Vendease Secures $3.2M Seed Round To Expand Operations
Vendease, a Nigerian agri-tech startup that allows restaurants and hotels to order food supplies directly from farms and food manufacturers at the best price, has raised US$3.2 million in a seed round to expand operations.
The seed round was led by San Francisco-based venture capital firm Global Founders Capital. Others are local investors and early backers such as Paga CEO Tayo Oviosu, Remita CEO John Obaro, and Magic Fund. Y Combinator participants like Hustle Fund, Liquid 2 Ventures, Hack VC and Soma Capital also invested in the startup.
Vendease was founded by Tunde Kara, Olumide Fayankin, Gatumi Aliyu and Wale Oyepeju in January 2020 to help solve food supply chain problems by digitising procurement processes, storage operations and logistics. A flexible payment system was integrated to facilitate transactions on the platform.
Earlier this year, Vendease was part of Y Combinator’s Winter 2021 cohort and has developed mobile and web apps that allow food businesses to place orders for food supplies, manage inventories, track expenses and gain access to their credit facilities with a buy now pay later service.
In achieving this, Vendease has built a network of farmers and food manufacturers to foster a solid food supply on its platform, speed up delivery and ascertain the quality of food production.
In September, Vendease reported to have delivered approximately 100,000 metric tonnes of food and plans to expand its capacities with the $3.2 million seed round.
Mr. Tunde Kara, Cofounder and chief executive officer (CEO) of Vendease said, “the rising food inflation coupled with effects of COVID-19 across Africa has positioned Vendease to scale up food systems by digitising end-to-end processes from farm to table. We currently operate out of Lagos, Ibadan and Abuja, but this funding will act as a buoy for us, as we scale our solution to other cities across the continent,”
Mr. Kara further explained that the company has created a predictive analysis and storage system that will help businesses predict future food prices, store food in advance and peg their prices for any duration depending on the food category.
This process, according to the CEO, has saved businesses on the platform a lot of money and human capital. He said, “when we compare market prices to what users buy on our platform, we’ve approximately saved them about $480,000 in the last nine months, cutting a lot of unnecessary expenses from their general costs — savings that can go into other things in terms of expansion and growth.”
Mr. Kara says the company hopes to 10x this number in the next 12 to 18 months. “Proactively, in our small way, we are helping to grow the GDP for the food businesses both on the farmers and vendor side of the marketplace.” He said.
The CEO said Vendease will use the newly raised $3.2 million to expand its operations to other cities and countries before the end of the first quarter of 2022. In addition, the funding would allow Vendease to continue to build out its technology stack, as well as secure partnerships with some payment platforms and banks to deepen its financial products, especially its buy now and pay later.
Don Stalter, the managing partner of Global Founders Capital, said it was the quality of the team that attracted his firm to Vendease. He said, “as a backer of one of Africa’s very first unicorns, Jumia, we’ve seen a great deal of talent in the market – and Tunde and the Vendease team are best in class both in EMEA and globally. Their laser focus and rapid growth are unprecedented, and there’s a massive opportunity ahead,” he said.
The Africa Blockchain Center (The ABC) Raises a 7x Figure Seed Investment from Next Chymia Consulting HK Limited
The Africa Blockchain Center (The ABC), a Kenyan startup focused on building technology capacity and offering blockchain solutions to key sectors announced today that it has raised a $ 7x figure investment from Next Chymia Consulting HK Limited, an Asian based company that provides blockchain solutions, consultancy services and training to global entities.
Founded in September 2021, The Africa Blockchain Center’s mandate is to propel Africa into the adoption of 4IR (fourth industrial revolution) technologies by building capacity in blockchain programming and catalyzing industry readiness; offering solutions to enterprises seeking to explore the technology, and incubating blockchain startups.
This investment will help The ABC set up structures across 6 markets in Africa including Kenya, Tanzania, Zambia, Nigeria, Uganda and South Africa and build a community of blockchain stakeholders for knowledge sharing and best practice guidelines.
The Founder of The Africa Blockchain Center Irene Kiwia said “we understand the potential that blockchain has in solving some of the challenges that are facing Africa and we believe that we can use our disruptive nature as a continent to create value for ourselves through the adoption of the technology. However, there is a massive capacity gap that we must fill to accelerate this. We aim to train 10,000 blockchain programmers, 5000 business leaders and executives on blockchain readiness, incubate 50 blockchain startups and launch robust solutions for the market in the next 2 years.”
The ABC aims to demystify blockchain technology and create platforms where the industry can learn, run research programs (R&D), launch blockchain solutions and access blockchain as a service for various applications across industries and sectors.
“The African continent has a massive untapped appetite to understand, learn and experiment with decentralized technologies. This, coupled with the opportunities that the market presents in applying blockchain technology in key sectors like finance, agriculture, health and general governance makes the center a timely intervention.” Further stated Kiwia.
The ABC is an Adanian Labs startup, the Pan African smart technologies venture studio with a mission to build, nurture and scale 300 impact driven tech startups across Africa.
The CEO of Adanian Labs John Kamara said “We are extremely proud to see such progress with our startups. We pride ourselves in providing the right environment, tools and resources to support startups and help them build scalable solutions. The ABC is very timely as Africa is exploring the potential for smart technologies in support of its 4IR efforts. Adanian Labs will continue to work with the Africa Blockchain Center and support its roll out across the continent.”
The female economy is at the center of The ABC’s mission. The ABC will have a special gender lens to ensure that women are an integral part of this transformation.
The CEO of Next Chymia Consulting HK Limited Kenji Sasaki said “We are delighted to support and partner with The ABC, their model is groundbreaking on how they want to scale blockchain technology in Africa, and we have confidence in the team. We are aligned in vision as well as our commitment to building blockchain capacity and providing blockchain solutions to key industries. We want to champion good governance for blockchain and we see the appetite and gap in Africa where this cutting-edge technology can solve some of the inequality issues that will catapult the economic growth of the continent.”
Driven by the desire to train African Blockchain engineers to solve African problems, the center aspire to create a space for collaboration where multi-industry stakeholders from development partners, civil societies, entrepreneurs, academia, government, private sectors, and all industry sector players can harness the common good of decentralized technologies in enhancing health, agriculture, education, good governance, financial independence and general economic growth.
Government2 days ago
Complete Text of President Buhari’s Speech at the Furniture Investment Initiative Summit
Social Media3 weeks ago
Facebook Downtime Plunges Zuckerberg’s Wealth by $7B in Few Hours
Crude Oil3 weeks ago
Crude Oil Trading Near 3-year High Following OPEC+ Agreed to Gradual Increase
Dividends2 weeks ago
List of Dividends Declared So Far in Nigeria in 2021
Economy4 weeks ago
Nigeria Spent N445bn on Debt Servicing in Q2, Debts Hit N35tn – DMO
Energy3 weeks ago
Ikeja Electric Notifies Lagos Customers On 8-Week Power Outage
Travel3 weeks ago
Passport Power Ranking Records Widest Ever Gap in Travel Freedom
Social Media3 weeks ago
How Facebook is Expanding Connectivity to Get 1 Billion People Online