Nairobi, Kenya, Aug 27, 2024 — SUKHIBA, an innovative conversational commerce and CRM platform, announced today it has completed a $1.55 million seed extension round led by EQ2 Ventures. Other top-tier investors participating in the round include Accion Venture Lab, Musha Ventures, Quona Capital, and existing investors CRE Ventures.
Unlike other platforms designed for developed markets that rely on email infrastructure and tailored for developed markets, SUKHIBA caters to the unique needs of emerging markets. It focuses on the predominant use of WhatsApp as an operating system and customizes its services of sales, marketing, customer service, payments and more around the WhatsApp infrastructure.
For example, traditionally, manufacturers and distributors supplying small and medium enterprises (SMEs) rely on physical visits and scattered WhatsApp messages to drive order generation and oversee logistics, often resulting in stockouts and lost sales. SUKHIBA’s seamless, WhatsApp-based communication platform integrates inventory ordering, payments, trade credit, delivery, and customer relationships. By enabling manufacturers and distributors to push shopping carts to wholesalers and retailers, SUKHIBA reduces order delays and time spent managing inventory. This not only helps SMEs maintain stock levels but also increases their sales, improving their overall productivity and efficiency.
SUKHIBA has achieved significant growth since 2023 and today operates in eight markets across Africa and India, working with top-tier manufacturers, distributors, leading retail chains, and D2C brands. More than 35,000 SMEs are already purchasing products and services through its merchant partners. SUKHIBA is able to scale seamlessly by integrating various payment companies and Enterprise Resource Planning (ERP) systems, such as SAP, ERPNext, Shopify, WooCommerce, etc.
The newly secured funds will be pivotal in accelerating SUKHIBA’s expansion across Africa and other emerging markets. The company’s vision is supported by marquee customers and investors, reflecting confidence in its potential to become the default CRM and sales force automation tool for emerging markets.
Ananth Gudipati, Co-Founder and CEO of SUKHIBA, said: “SUKHIBA is designed to bridge the gap between brands, manufacturers, distributors, and their customers in emerging markets by leveraging the ubiquitous nature of WhatsApp. This seed extension marks a significant milestone for us, enabling us to scale our operations and enhance our SaaS platform to better serve our growing customer base of manufacturers, distributors and D2C brands.”
Manish Phulwani, Associate Director at EQ2 Ventures, added: “Our follow-on investment in SUKHIBA is a strong vote of confidence, having witnessed the team’s consistent execution since the early days. Their exceptional product mindset is rare, positioning them to lead the transition of business and consumer transactions to WhatsApp across emerging markets. We look forward to continuing this journey with the team.”
According to Amee Parbhoo, Managing Partner, Accion Venture Lab: “We see that small retailers in emerging markets are reliant on in-person interactions to manage their day-to-day commerce. SUKHIBA’s innovative platform can streamline many processes for small and medium enterprises as well as large manufacturers and distributors — from integrating inventory management and payment processing to trade credit, logistics, and customer engagement; all within the familiar interface of WhatsApp, helping improve the client experience and boost productivity.”
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About SUKHIBA:
SUKHIBA is a conversational commerce and CRM platform built on top of WhatsApp. Focused on emerging markets, SUKHIBA helps medium and large enterprises extend their sales and retention by leveraging WhatsApp. It was founded in 2021 by Ananth Raj Gudipati and Abhinav Reddy. More at www.sukhiba.com.
About Accion Venture Lab
Accion Venture Lab is a leading early-stage investor in inclusive fintech, providing seed-first capital and strategic support to innovative startups that are meeting the financial needs of underserved people globally. Our global portfolio and local approach enable us to spot and respond to global trends faster, sharing learnings across geographies. Accion Venture Lab is an investment strategy of Accion and is managed by Accion Impact Management. More at www.accion.org/venturelab
About EQ2
EQ2 Ventures is a Dubai-based investment company that invests across innovative B2B and B2C tech-enabled businesses in the Middle East and Africa. More at www.eq2ventures.com.
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Thessa Mooij
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Director of Public Relations