Qwili, a Cape Town-based hybrid hardware-software startup, has raised US$1.2 million in an oversubscribed seed funding round to support the launch of its affordable NFC smartphone.
The funding round was headed by E4E Africa, a venture capital organization focused on entrepreneurs, and included funds and angel investors in addition to Strat-Tech, Next Chymia, and Untapped Global.
Qwili is a hybrid hardware-software device that includes an NFC-enabled smartphone and a digital sales ecosystem.
With the help of its software, users may sell value-added services to their friends, neighbors, and the general public, including data, electricity, pay-TV subscriptions, groceries, apparel, and much more.
“We are fervently committed to increasing access to digital products and services. As stated by Luyolo Sijake, co-founder and CEO of Qwili, “Achieving this does not only rest in new inventions and technologies, but also in utilizing existing tech in appropriate ways, that reach and benefit more people.
Along with sustaining Qwili’s current effect, the raise has made it possible to significantly expand the team and its development skills, introduce new product lines and put more of an emphasis on R&D for the company’s hardware division.
The new fund will be utilized for the creation of hardware, new hires, and app development.
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Cartona, an Egyptian B2B Ecommerce Platform, secures $12 million in funding
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