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Rwazi to scale its market intelligence platform backed by $4 million seed funding

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#emerging markets
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In emerging markets like Africa, offline channels dominate retail sales, which are often driven by informal trade and cash transactions. This makes sourcing data on markets, consumer behavior and products a herculean task. Yet, local and international brands require data about market size and value, consumer profiles and their purchasing power, and penetration of their competitors’ products to establish their presence or expand into such markets.

Rwazi, a market intelligence startup, is providing market insights backed by data collected directly from consumers in emerging markets, including Africa, South Asia, and Latin America. Rwazi collects data such as product usage, frequency of consumption, and household budgets and income, and is currently scaling in these markets, with a presence in 40 countries. Unlike larger research firms that make inferences based on sample information, the startup seeks unit-level data like the products bought, frequency of purchases, and geographic location of consumers. Its expansion plans and planned product launches are backed by a $4 million seed funding round led by Bonfire Ventures and saw participation from Newfund Capital and Alumni Ventures.


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