Kenyan AI-Powered Commerce Startup Chpter gets $1.2M Pre-Seed Funding
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Loading... - Hassan Abdi
- 13 Sep 2024
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Kenyan startup Chpter, an AI-powered social commerce platform, has successfully secured $1.2 million in Pre-Seed funding. The funding round was spearheaded by Ken Njoroge of PANI, co-founder and former CEO of Cellulant, and included investments from Plesion Capital, Techstars, and notable angel investors such as Benjamin Fernandes, founder of NALA, and the co-founders of Workpay.
Founded in 2022 by Tesh Mbaabu (CEO), Mesongo Sibuti (CTO), Kuria Kevin (CPO), and Mark Kiarie (COO), Chpter plans to use this capital to enhance product development, expand its geographical reach, and boost sales and marketing efforts. The startup is focusing on leveraging the growing trend of conversational commerce, where customers engage and shop through social media channels.
Chpter, which began operations in Kenya, is now setting its sights on expanding to at least five more markets, including Nigeria, Ghana, Egypt, and Morocco, within the next few months. CEO Tesh Mbaabu emphasized the platform's role in driving the social commerce revolution in Africa, capitalizing on platforms like WhatsApp, Instagram, Facebook, and TikTok, where consumers frequently engage with brands.
Mbaabu highlighted WhatsApp, with its over 2 billion active users, as a key focus for Chpter, citing its inclusivity and accessibility, particularly in emerging markets where it boasts a 95% usage rate. Co-founder Mark Kiarie echoed this sentiment, noting that WhatsApp's low data and digital literacy requirements make it an ideal platform for reaching underserved markets.
Chpter is also a recognized Meta Partner, giving it access to advanced features across Facebook, Instagram, and WhatsApp. The platform's AI capabilities allow users to create chatbots and AI-driven sales and customer service agents, enhancing the overall customer experience and driving engagement and sales on social media platforms.
