According to the guys at Disrupt Africa, Bamba Group, has just raised $250,000 (K.Sh 25 million) on Lion’s Den. Apparently, two of the founders, Shehzad Tejani and Harman Johar pitched to the Lions’ Den investors, and impressed Darshan Chandaria, one Lions, enough to win his investment.
Bamba Group, founded 3 years ago by Al Ismaili, Faiz Hirani and Shehzad Tejani, developed a cloud-based data collection program. They already have a foothold in the Kenyan market, as their services are used by major companies like the Aga Khan Foundation, Nairobi Airport Services, and Diamond Trust Bank.
Earlier this year, Bamba group became the first East-African company to get into the TechStars accelerator programme. Bamba Group plans to use this new funding to expand its operations throughout parts of Africa and South America.
Lion’s Den is the Kenyan version of Dragon’s Den and Shark Tank, that started earlier this year. It retains the same elements with its international counterparts where entrepreneurs with business ideas will get three minutes to pitch to five investors (Lions in this case). The Lions will then evaluate the businesses as presented and decide whether or not to invest their own cash into them.
The Lions in this show are Co-Founder and Managing Director of Vivo Activewear, Wandia Gichuru, founder of Blackrock Capital Investments, Kris Senanu, editor-in-chief of Couture Africa Magazine, Olive Gachara, founder of Homeboyz, Myke Rabar, director and Group CEO of Chandaria Group, Darshan Chandaria, major players in Kenya’s business world.