Africa-focused female-led health-technology company Kasha, has raised about $21 million in a series B-investment round led by Knife Capital, a Cape Town-based company.
“With series-B funding, Kasha is scaling its operations into South and West Africa to be Africa’s leading digital health access platform,” Knife Capital said in a statement on Monday.
Kasha was established in 2016 by CEO Joanna Bichsel, “the company is based in Rwanda with an emphasis on women’s health, providing end-point distribution of pharmaceuticals and fast-moving consumer goods (FMCGs). The platform serves a diverse clientele, including individual consumers, small-scale resellers, hospitals, pharmacies, and clinics, delivering vital products such as contraceptives, sanitary pads, and pregnancy tests.”
“In Africa, women are the decision makers on 80% of household purchases, and 60% of small shop owners are women,” it said.
Kasha started operating in South Africa and plans to open operations in West Africa later this year.
“The exponential revenue growth we’ve experienced over the last several years was driven by the high market demand for quality, affordable health products and household goods from mass market customers in urban and rural areas of East Africa, and this has proven out our business model and our team’s ability to execute,” said Kasha founder and CEO Joanna Bichsel in the statement.
In a statement, Bichsel said that they will be using the funds to expand across Africa and invest in strategic areas of the business to further continue our high-growth trajectory.”
“In the current economic climate, it is refreshing to come across such a high-growth capital efficient business that is female-led and optimised to serve the large mass market segment in Africa, being especially strong at serving women customers,” said Knife Capital founding partner Keet van Zyl.
