South African Startup, Qwili Raises a $1.2 Million Seed Round
Qwili, a hybrid hardware-software startup based in Cape Town, has raised US$1.2 million in an oversubscribed seed funding round to support the launch of its low-cost NFC smartphone.
E4E Africa, a venture capital organization focused on entrepreneurs, led the funding round, which included funds and angel investors in addition to Strat-Tech, Next Chymia, and Untapped Global.
Qwili is a hardware-software hybrid that consists of an NFC-enabled smartphone and a digital sales ecosystem.
Users can use its software to sell value-added services to friends, neighbors, and the general public, such as data, electricity, pay-TV subscriptions, groceries, clothing, and much more.
“We are steadfast in our commitment to expanding access to digital products and services.” “Achieving this does not only rest on new inventions and technologies, but also on utilizing existing tech in appropriate ways, that reach and benefit more people,” says Luyolo Sijake, co-founder and CEO of Qwili.
Along with sustaining Qwili’s current impact, the raise has enabled the company’s hardware division to significantly expand its team and development skills, introduce new product lines, and place a greater emphasis on R&D.
The new fund will be used to create hardware, hire new employees, and develop apps.
