Duhqa, a Kenyan B2B platform led by tech entrepreneur Victor Maina, has raised $2 million in a seed funding round led by angel investors and venture capital firms as part of its plans to scale its operations and provide more digital tools to its rapidly expanding market.
Founded in 2021 by Maina, Davis Angwenyi, and Dudu Moilwa to address issues in the highly fragmented retail market, Duhqa allows retailers to access and order supplies with the click of a button, as it continues to leverage technology to create value in the retail industry.
Its platform empowers informal African merchants to digitally source and pay for inventory, get convenient delivery, and access short-term financing through innovation, imagination, and ingenuity.
Roselake Ventures, Mo Angels, and Techstars all participated in the startup’s seed funding round, which was led by CrossFund, an invitation-only, professional venture collective that empowers founders to raise early-stage capital.
The $2-million capital raised from the funding arrangement comes nearly seven months after it secured $150,000 in pre-seed funding.
Duhqa intends to use this round of funding to expand existing markets and provide more tech tools to its growing merchant network.
With a team of 40 people, the startup presently operates on an asset-light model, but it plans to triple its size by the end of the year. It intends to expand across Kenya and the rest of East Africa.
“We are thrilled to get a boost from returning and new investors at this crucial time,” Maina, CEO of Duhqa, said. “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.”
While discussing the startup’s mission, Maina stated that Duhqa’s goal is to address gaps in African distribution logistics with the best in logistics, e-commerce, financing, and data insights, which are required to build a better, leaner African distribution sector.
Since its inception nearly a year ago, the Kenya-based startup has registered more than 5,300 retailers and 38 manufacturers on its platform, and facilitated over 57,500 deliveries.
