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Ride-hailing startup GoZem has launched operations in Togo, with plans to expand into other countries and verticals in the short-term.

Launched last month on the back of raising US$900,000 in funding in June, GoZem is for now focused on motorcycle taxis in Togo, but will add cars next year.

It has already completed more than 1,500 rides, onboarded more than 100 drivers and had over 8,000 customers download its app, but is planning almost immediate expansion.

“Our strategy is to expand to new countries, starting in H1 2019 with Benin and Cameroon, and develop new verticals, such as food delivery and last mile delivery,” said Martin Lehmann, who is in charge of fundraising at Reengine Ventures, the company behind GoZem.

“Public transportation services are inefficient and unreliable, and private transportation service are disorganised and unsafe. The only solution to these problems is GoZem.

Though companies such as SafeBoda, SafeMotos, Taxify and Uber operate across various East African markets, GoZem does not face a huge amount of competition within its target markets, and is banking on quick expansion in order to corner the market.

“We base our strategy on expansion. In six months we will be live in three countries – Togo, Benin and Cameroon – and after that we will continue to expand in the CFA Franc Zone, plus Nigeria, Rwanda and Ghana,” Lehmann said.

The post Ride-hailing startup GoZem launches in Togo with grand plans appeared first on Disrupt Africa.

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Ride-hailing startup GoZem has launched operations in Togo, with plans to expand into other countries and verticals in the short-term.

Launched last month on the back of raising US$900,000 in funding in June, GoZem is for now focused on motorcycle taxis in Togo, but will add cars next year.

It has already completed more than 1,500 rides, onboarded more than 100 drivers and had over 8,000 customers download its app, but is planning almost immediate expansion.

“Our strategy is to expand to new countries, starting in H1 2019 with Benin and Cameroon, and develop new verticals, such as food delivery and last mile delivery,” said Martin Lehmann, who is in charge of fundraising at Reengine Ventures, the company behind GoZem.

“Public transportation services are inefficient and unreliable, and private transportation service are disorganised and unsafe. The only solution to these problems is GoZem.

Though companies such as SafeBoda, SafeMotos, Taxify and Uber operate across various East African markets, GoZem does not face a huge amount of competition within its target markets, and is banking on quick expansion in order to corner the market.

“We base our strategy on expansion. In six months we will be live in three countries – Togo, Benin and Cameroon – and after that we will continue to expand in the CFA Franc Zone, plus Nigeria, Rwanda and Ghana,” Lehmann said.

The post Ride-hailing startup GoZem launches in Togo with grand plans appeared first on Disrupt Africa.

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The Kenya-born Amar Inamdar describes himself as “non-linear”, a “scientist, explorer, entrepreneur and emerging markets investor”.

“I’ve had the privilege to work all over the world with some amazing businesses over the last 25 years. I spent a good part of my career with big corporations – in the US with the IFC and in the Netherlands with Shell – but always on the frontier of what is possible and in emerging markets,” he said.

At heart, Inamdar says he is always in “lean startup mode”

“I’m happiest when I’m working with a crazy-dedicated small team trying to do something that everyone says is impossible,” he said.

Right now, he is doing just that in his role of managing director of KawiSafi Ventures, a for-profit impact fund founded in 2016 and sponsored by Acumen. KawiSafi aims to catalyse the emerging high-growth potential off-grid solar energy ecosystem in East Africa, with Inamdar saying it builds on 10 hard years of experience with very patient capital investing in off-grid energy.

“Acumen’s leadership had the prescience to see that the time is now to create a for-profit, commercially-minded fund that will attract the kind of capital that can help businesses to scale and grow in a way that will impact millions, not just thousands, of people,” he said.

The fund may be young, but it is moving fast.

“We’ve built a great team here in Nairobi and we’re backed by a remarkable group of investors. We’ve achieved a successful second close and deployed about a third of our capital already into four great companies – BBOXX, d.light, Lendable and Redavia. We sit on the boards of all four, and we’re keen to do more to help build businesses in East Africa and help them achieve their goals,” Inamdar said.

Currently, KawiSafi is focusing on finalising its capital raise, supporting its existing portfolio, and developing its pipeline by making some new investments.

“We have a tight investment thesis that’s focused on decentralised, renewable power. We see tremendous opportunity from tech-driven trends for the private sector to solve one of the biggest challenges of our time – achieving universal energy access,” said Inamdar.

KawiSafi’s team is very excited about the development of the African tech space in general, and the off-grid solar market in particular.

“We’ve never seen anything like it in our history. Energy and the internet are becoming cheaper and more accessible every day; creating a self-reinforcing trajectory for people to create opportunity and build markets,” Inamdar said.  

“I’m willing to bet that, just like cellphone leapfrogged landlines, decentralised power will leapfrog the grid. And the amazing thing is that it’s going to happen here, in East Africa, before anywhere else. We’re leading the way. My team is constantly inspired by the incredible people we meet who are dedicating everything that they have to creating innovations that have the potential to reach millions of underserved people around the world.”

However, for many companies, what is lacking is the ability to translate a great product into a great business.  

“The best technology is just a black box until you can work out how to connect to people and markets. It’s all about execution. And execution is hard in Africa. The biggest challenge I see is not a lack of money, but the lack of people experienced in understanding and creating value for the customer in East Africa,” said Inamdar.

Yet those people are slowly increasing in number, while the amount of funding available is also on the rise, albeit from a small base.

“We need to demonstrate that we can bring companies to scale, make them commercial and enable investors to exit with reasonable, competitive returns,” Inamdar said. “It’s easy to invest money. The hard part is getting it back to your investors. When we can do that, we will start to attract much more interest and appetite to African businesses and entrepreneurs.”

The post Meet the Investor: Amar Inamdar, KawiSafi Ventures appeared first on Disrupt Africa.

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The Kenya-born Amar Inamdar describes himself as “non-linear”, a “scientist, explorer, entrepreneur and emerging markets investor”.

“I’ve had the privilege to work all over the world with some amazing businesses over the last 25 years. I spent a good part of my career with big corporations – in the US with the IFC and in the Netherlands with Shell – but always on the frontier of what is possible and in emerging markets,” he said.

At heart, Inamdar says he is always in “lean startup mode”

“I’m happiest when I’m working with a crazy-dedicated small team trying to do something that everyone says is impossible,” he said.

Right now, he is doing just that in his role of managing director of KawiSafi Ventures, a for-profit impact fund founded in 2016 and sponsored by Acumen. KawiSafi aims to catalyse the emerging high-growth potential off-grid solar energy ecosystem in East Africa, with Inamdar saying it builds on 10 hard years of experience with very patient capital investing in off-grid energy.

“Acumen’s leadership had the prescience to see that the time is now to create a for-profit, commercially-minded fund that will attract the kind of capital that can help businesses to scale and grow in a way that will impact millions, not just thousands, of people,” he said.

The fund may be young, but it is moving fast.

“We’ve built a great team here in Nairobi and we’re backed by a remarkable group of investors. We’ve achieved a successful second close and deployed about a third of our capital already into four great companies – BBOXX, d.light, Lendable and Redavia. We sit on the boards of all four, and we’re keen to do more to help build businesses in East Africa and help them achieve their goals,” Inamdar said.

Currently, KawiSafi is focusing on finalising its capital raise, supporting its existing portfolio, and developing its pipeline by making some new investments.

“We have a tight investment thesis that’s focused on decentralised, renewable power. We see tremendous opportunity from tech-driven trends for the private sector to solve one of the biggest challenges of our time – achieving universal energy access,” said Inamdar.

KawiSafi’s team is very excited about the development of the African tech space in general, and the off-grid solar market in particular.

“We’ve never seen anything like it in our history. Energy and the internet are becoming cheaper and more accessible every day; creating a self-reinforcing trajectory for people to create opportunity and build markets,” Inamdar said.  

“I’m willing to bet that, just like cellphone leapfrogged landlines, decentralised power will leapfrog the grid. And the amazing thing is that it’s going to happen here, in East Africa, before anywhere else. We’re leading the way. My team is constantly inspired by the incredible people we meet who are dedicating everything that they have to creating innovations that have the potential to reach millions of underserved people around the world.”

However, for many companies, what is lacking is the ability to translate a great product into a great business.  

“The best technology is just a black box until you can work out how to connect to people and markets. It’s all about execution. And execution is hard in Africa. The biggest challenge I see is not a lack of money, but the lack of people experienced in understanding and creating value for the customer in East Africa,” said Inamdar.

Yet those people are slowly increasing in number, while the amount of funding available is also on the rise, albeit from a small base.

“We need to demonstrate that we can bring companies to scale, make them commercial and enable investors to exit with reasonable, competitive returns,” Inamdar said. “It’s easy to invest money. The hard part is getting it back to your investors. When we can do that, we will start to attract much more interest and appetite to African businesses and entrepreneurs.”

The post Meet the Investor: Amar Inamdar, KawiSafi Ventures appeared first on Disrupt Africa.

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