Bosso, a Zambian startup that offers innovative construction e-commerce solutions to the African building and construction industry, has raised US$400,000 in its pre-seed round of funding.
The largest online marketplace for building materials in Zambia, Bosso was founded in 2022 by Chisepo Chirwa, Mukopaje Singogo, Ibn Kafwanka, and Salwa Shamapande, targeting hardware retailers and contractors. By enabling everyone in Zambia to have access to high-quality, reasonably priced building materials, the platform helps the country’s construction industry.
Thus far, the firm has integrated more than 1,000 hardware stores around Zambia, provided over 200 homebuilders with raw materials, and transported building supplies to four of the country’s ten districts. It raised a US$400,000 pre-seed round from several angel investors, Launch Africa Ventures, Renew Capital, Change-Com, and Leonard by Vinci. The money will be used to develop new products and grow operations inside the company’s native market.
“The remainder of this year and 2025 will see Bosso transfer the two years of data they have acquired to their AI technology to drastically decrease the inefficiencies across the sector. We will be launching a new platform that adds essential services on top of the materials we already offer. Services such as land conveyance, financing, “save now pay later”, and access to construction companies,” said Chirwa.
Chirwa stated that Bosso planned to launch its seed round in August and was tasked with sourcing materials for more than 5,000 homes by 2025.
Everyone in Africa deserves adequate and cheap housing, and there is a serious housing crisis that needs to be addressed by a Bosso. To expedite our solution, we intend to provide a new AI construction materials helper and spread our mission over the entire continent, beginning with Southern Africa.
The additional funds will be utilized to expand the platform’s functionality and introduce new features.
Read more on Tech Gist Africa:
Lupiya, a neobank in Zambia, has raised $8.25 million in a Series A round of funding
Africa GreenCo, based in Zambia, has received $15.5 million to expand its business operations
Mastercard and Zamtel are collaborating to transform digital payments in Zambia