BRCK secured Sh300 million funding to be used to expand the company

Written by
  • 4 years ago
  • Posted: January 8, 2016 at 4:28 pm

One of the fastest growing startup in Africa – BRCK has secured Sh300 million funding. BRCK is a hardware and services tech company based in Nairobi. The company came up with a connectivity device designed to work in harsh environment where electricity reach is close to zero.

This significant capital raise included investment from former AOL executives Jean and Steve Case, along with other participating international investors including Jim Sorenson, TED, MKS Alternative Investments,  Synergy Energy and others. This amount is additional to the previous USD 1.2 million the company raised through seed funding last year.

The company aims to improve lives in the continent through tech know how and enhance tech related avenues. To achieve that, the company will invest the funds in research. “The new capital of $3 million will help expand the company’s operations, its ability to manufacture additional inventory, new designs of the devices and distribution across the continent and globally.” The company said.

BRCK was founded in 2013 and through its products people in remote areas can access the internet and education equipment. Since the initial funding, BRCK has evolved to sell the product in 54 countries across 5 continents and has also begun to revolutionize the Kenyan primary education system through the launch of BRCK Education with its flagship products, the Kio tablet and the Kio Kit – a digital classroom in a box. The new capital of USD 3 million will help expand the company’s operations, its ability to manufacture additional inventory, new designs of the devices and distribution across the continent and globally.

“As early investors in BRCK, we’ve had the benefit of observing first-hand the success the company has had in managing rapid yet sustainable growth as it fulfills its mission to keep Africans connected and drive the global digital revolution,” stated Jean Case, CEO of the Case Foundation. “We are excited to support BRCK as it enters its next phase of expansion, both improving and enhancing its product offerings uniquely suited to emerging market internet subscribers, and growing the company’s global footprint.”

Jessica Dick, Investment Manager for Synergy Energy said, “We are delighted to be participating in this round and to be supporting BRCK with the disruptive and inspiring work they are doing in technology and education”.  Laurent Haug, partner at MKS Alternative Investments, followed up by saying, “At a time when education and information have never been so critical to the future of the world, connecting the 4 billion people that are not yet on the internet is a top priority. BRCK is taking on this challenge from a unique perspective, fueled by deep knowledge of the realities of emerging countries’ infrastructure and users. We are proud to join this adventure, and work alongside the BRCK team to bring the benefits of information technologies to millions of people.”

 

What is your opinion on the topic?
Erick Vateta
Tech Editor at Kachwanya.com
---
Erick Vateta is a lawyer by training, poet, script and creative writer by talent, a model, and tech enthusiast. He covers International tech trends, data security and cyber attacks.
Erick Vateta on FacebookErick Vateta on Twitter
Article Categories:
STARTUPS