Kasha, a Rwandan startup founded in 2016 by CEO Joanna Bichsel, recently secured a significant $21 million in a Series B investment round. The investment aims to support Kasha’s expansion and growth in the African market, focusing on providing last-mile access to health products for women. The investors who participated in the funding round include Knife Capital, Finnfund, DFC, Tim Koogle (ex-Yahoo CEO), Beyond Capital Ventures, Altree Capital, Bamboo Capital’s BLOC Smart Africa Fund, and Five35 Ventures.
Kasha operates as a digital retail platform with a unique focus on women’s health products and household items. Its customer base includes individual consumers, small resellers, hospitals, pharmacies, and clinics. The startup initially began with a direct-to-consumer model in Rwanda, offering last-mile delivery of health products for women and newborns. As demand increased, Kasha expanded into the wholesale market after obtaining a pharmaceutical license, enabling them to serve a broader range of healthcare providers.
The investment amount of $21 million is a substantial capital infusion that reflects investor confidence in Kasha’s business model and its potential to address the healthcare needs of Africa’s growing population. The funding will facilitate the company’s expansion into South Africa and West Africa, further solidifying Kasha’s position as a key player in the digital health retail space.
Why The Investors Invested
The investors’ decision to commit $21 million to Kasha can be attributed to several compelling and fact-based reasons. Africa’s rapidly expanding population presents an immense opportunity for healthcare-related ventures. Kasha’s focus on women’s health products addresses a crucial market segment, considering women’s role as both primary consumers of health products and decision-makers in household health matters.
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Again, Kasha’s impressive track record of growth and success played a pivotal role in attracting investors. With a remarkable 50x growth in annual recurring revenue since its Series A round, Kasha has demonstrated its ability to scale rapidly and meet the high demand for quality and affordable health products in both urban and rural areas of East Africa.
Additionally, the startup’s differentiated approach sets it apart from other B2B e-commerce platforms in the region. Kasha’s strategic focus on health products, combined with its collaboration with manufacturers and suppliers, ensures the authenticity and quality of its offerings. This reliability and specialization make Kasha an attractive investment option for investors seeking exposure to the growing African healthcare market.
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Furthermore, Kasha’s expansion plans into South Africa and West Africa offer promising prospects for growth. The investors recognize the potential of the startup’s mission to become Africa’s leading digital platform for last-mile access to health products, aligning with the continent’s evolving healthcare landscape.
A Look At Kasha
Founded in 2016 by CEO Joanna Bichsel, Kasha is a Rwandan startup that operates as a digital retail platform, specializing in women’s health products and household items. The company’s mission revolves around providing last-mile access to health products for women, catering to their menstrual and reproductive health needs. Kasha serves a diverse customer base, including individual consumers, small resellers, hospitals, pharmacies, and clinics.
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Kasha began its journey with a direct-to-consumer model, offering last-mile delivery of health products for women and newborns in Rwanda. Over time, the startup expanded into the wholesale market after obtaining a pharmaceutical license, enabling them to serve pharmacies, hospitals, and clinics. This expansion allowed Kasha to broaden its product range, including maternal and newborn health products, family planning items, sexual and reproductive health products, and noncommunicable disease solutions.
The recent $21 million Series B investment marks a significant milestone for Kasha, fueling its ambitious plans to expand further into South Africa and West Africa. The startup’s success is underpinned by its strategic focus on health products, direct collaboration with manufacturers and suppliers, and its use of various content channels to disseminate health and safety information. With a dedicated team and proven experience in scaling rapidly, Kasha aims to achieve its mission of becoming Africa’s foremost digital platform for last-mile access to health products.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard