Jumba, a Kenyan construction technology platform, has secured $4.5 million in a seed round led by LocalGlobe.
Also participating are Enza Capital, which led its $1 million pre-seed round last year, Foundamental, Seedstars International Ventures, Logos Ventures, SpeedInvest, First Check Africa and Alumni Angel Network.
Founder in 2022, Jumba is a construction technology platform that streamlines B2B construction material purchase and financing. It enables construction material retailers (regarded as hardware stores locally), found on almost every block, to restock, and real estate developers to access the supplies they need for their projects. The startup was founded by Kagure Wamunyu and Miano Njoka.
The startup claims to have recorded three times quarterly growth at the close of last year, it is currently covering 60% of Kenya’s 47 counties scaling its operations in the country, to keep up with the growing demand for construction materials.
“Ours is a one-stop shop, we manage the sourcing and logistics headache. By using our platform, they also have access to their documents and invoices, for them to reconcile,” said Wamunyu.
“We run in-house logistics as one of the ways we create efficiencies to deliver for people in a way that is not so expensive for them to access goods.”