NAIROBI, Kenya- SUKHIBA, a Kenyan-based commerce and CRM platform, has successfully secured a $1.55 million seed extension round, propelling its mission to revolutionize business transactions in emerging markets.
This funding round was spearheaded by EQ2 Ventures, with participation from notable investors like Accion Venture Lab, Musha Ventures, Quona Capital, and existing backers CRE Ventures.
Founded in 2021 by Ananth Raj Gudipati and Abhinav Reddy, SUKHIBA is carving out a niche by leveraging the ubiquitous nature of WhatsApp to bridge the gap between brands, manufacturers, distributors, and their customers.
The platform is designed for medium and large enterprises, helping them extend their sales and customer retention through conversational commerce on WhatsApp.
“This seed extension marks a significant milestone for us,” said Gudipati, SUKHIBA’s Co-Founder and CEO. “It enables us to scale our operations and enhance our SaaS platform, allowing us to better serve our growing customer base of manufacturers, distributors, and D2C brands.”
Since its inception, SUKHIBA has seen impressive growth, now operating in eight markets across Africa and India.
The platform works with top-tier manufacturers, distributors, leading retail chains, and D2C brands, supporting over 35,000 SMEs who purchase products and services through its merchant partners.
The platform is compatible with various payment companies and Enterprise Resource Planning (ERP) systems, including SAP, ERPNext, Shopify, and WooCommerce, making it a versatile solution for businesses in emerging markets.
The newly secured funds will be pivotal in accelerating SUKHIBA’s expansion across Africa and other emerging markets, solidifying its position as a leader in conversational commerce.
Commenting on the investment, Manish Phulwani, Associate Director at EQ2 Ventures, expressed strong confidence in SUKHIBA’s vision and execution.
“Our follow-on investment in SUKHIBA is a strong vote of confidence, having witnessed the team’s consistent execution since the early days,” said Phulwani.
“Their exceptional product mindset is rare, positioning them to lead the transition of business and consumer transactions to WhatsApp across emerging markets,” Phulwani added.
With this fresh capital, SUKHIBA is poised to scale new heights, transforming how businesses in emerging markets engage with their customers and streamline their operations.
