OkHi has raised KSh 193 million in a recent funding round by London’s Angel Investment Network. The startup which has developed a digital addressing system for emerging markets will use the finances to expand its reach in African countries as well as add more staff.
TechRound reports that OkHi recently launched in Nigeria, partnering with Interswitch to solve addressing problems in the country as it makes way for a Series A funding.
Speaking on the funding, OkHi CEO Timbo Drayson said:
“A physical address should be a human right. Whether it’s opening up a bank account or getting an ambulance to your door, every person on this planet deserves access to these services. This raise is a vital stepping stone to unlock our growth into Nigeria as well as explore new markets across Africa, Middle East and Asia,” Drayson said.
The six-year-old startup is trying to solve the physical addressing system in emerging markets to allow access to essential services like banking and ambulance services which require physical addresses. OkHi CEO says that around 4 billion people globally lack physical addresses, which is a crucial component of identification.
The startup backed by Airbnb co-founder Nate Blecharczyk and Twitter Chairman Patrick Pichette uses it geolocation technology to drive business decisions that require knowledge of customer locations, as well as support delivery services for business. It is looking to cut pick up time by 19% and boost delivery trips by 10%.
READ ALSO: Kenyan eHealth Startup Access Afya Raises Ksh9.5M from MIT Solve
