Mburu, a Senegalese foodtech brand, active in the production and marketing of breads, pastries and pastries has secured no less than 243 million FCFA ($450k) funding, made up of a mix of capital and quasi-capital from WIC Capital and WE! Fund.
“I am delighted with this funding by WIC Capital and WE! Fund, which reinforces the development potential of the brand. This investment will allow us to pursue our innovations which reside in the digitization of our production and marketing chains and constitutes the first step towards our desire to expand throughout the national territory,” said Dr. Isseu Diop Sakho, founder of the startup which is operated by the company Patria.
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Why The Investors Invested
Launched in March 2019 by the Women’s Investment Club (WIC) Senegal, WIC Capital is the first investment fund that exclusively targets women-led businesses in Senegal and Ivory Coast. The Fund brings together local and international institutional and individual investors, who pool their resources to invest in micro and small women-owned enterprises (MSMEs) in Senegal and Ivory Coast. The Fund invests through a mixture of equity and quasi-equity in companies from all sectors, founded by women, owned or managed at least 50% by women, or with a management team predominantly female.
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Investment in Mburu is the fourth made by WIC Capital and involved the support of the General Delegation for Rapid Entrepreneurship of Women and Youth. The participation of WE! Fund amounts to 120 million FCFA.
A Look At What The Startup Does
Mburu is currently only present in Senegal’s western region of Thiès. It has developed a whole range of bakery products around the promotion of dry local cereals. The latter replace imported wheat and Mburu takes advantage of a distribution network based on women’s groups in rural areas. The startup provides outlets for local cereal producers and income for the mobilized women processors.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer
Mburu WIC Capital