Is Kenya’s Bamba Group the next AirBnB or Dropbox? Well, the US-based accelerator TechStars believes so, given it is going to give the Kenyan startup cash and intensive training to scale its operations.
Bamba Group is a 3-year-old startup company operating in Nairobi founded by Al Ismaili, Faiz Hirani, and Shehzad Tejani. The startup developed a data collection software currently in use in about 122 countries worldwide. The software rewards users who submit data in the form of mobile airtime payments directly to their phones.
The Bamba Group’s cloud-based data collection software is already being used by major for-profit and not-for-profit organization in Kenya like the Aga Khan Foundation, Diamond Trust Bank, and Nairobi Airport Services.
TechStars is an international investor with over 650 tech startups to its name that it helped scale their operations through its acceleration program. Identified Bamba Group as the latest tech startup it wants to take under its wing and help it grow to its full potential.
“We are very happy to select the first company from East Africa into the TechStars program. Bamba Group is a testament to our globalized world where a startup from any corner of the planet can rise up, pursue their passion and make a lasting impact on the world,” said Amos Schwartzfarb, the Managing Director at TechStars Austin.
TechStars will take the founders of Bamba Group through a 13-week acceleration program, which will feature a hands-on mentorship. They will also have access to the TechStars Network that includes over 5,000 group of people comprising founders, alumni, and global mentors.
After the initial capital investment from TechStars, the startups often go to raise an average funding to the tune of $3 million after the program.
Ismaili, a co-founder, and CEO of Bamba Group said they are thrilled their company was among the 2% that qualifies for the TechStars acceleration program. He added:
“It is our employees that are most deserving of this selection. We now look forward to the next stage of our growth with a new saying around the office – something we now hear regularly from our new mentors at TechStars ‘Do More Faster.’ We hope to make Africa proud.”
Peter Onkendi, Bamba Group Project Manager, added: “Working for Bamba Group has been an amazing experience. The company’s culture is fantastic, and I look forward to every day at the office. What we are doing is very exciting and with Bamba being accepted to the TechStars 2016 program, I look forward to the opportunities ahead.”