A Kenyan company known as Revivo has secured $635,000 in order to expand into a bigger, wider market.
This funding was obtained through a pre-seed investment round. With these funds, the company will be able to expand and compete in a wider market.
The fundraising round was made possible thanks to contributions from Raba Partnership, Village Global, Musha Ventures, Satgana, and strategic business angels.
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Why Investors put money in Revivo
The owners put money into Revivo for a number of important reasons. Revivo solves a big problem in developing markets by creating a B2B market for extra parts for consumer electronics.
Revivo wants to meet the needs of small businesses that do most repairs so that it’s easy for people to get great repairs at low prices from small businesses. Investors liked it because it would help areas that don’t get enough help.
Investors were especially interested in Revivo because it had a clear price plan and guaranteed the quality of its products. On the company’s portal, repair shops can find new electrical replacement parts, learning tools, and ways to pay for them. These qualities make Revivo a good investment for repair businesses.
Furthermore, the success of Revivo’s predecessors was very pleasing to investors. Through its partnerships with major original equipment manufacturers (OEMs) and e-waste recyclers, the company has been successful in selling more than 45,000 different electronic devices to tens of thousands of customers. Because it is long-lasting and has been successful in acquiring funding, including some from the TomKat Centre for Sustainable Energy at Stanford University, Revivo possesses considerable promise.
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A Brief Look at Revivo
Sarah Johnson started Revivo in 2022 because she thought people in developing countries needed an easier way to get their gadgets fixed. The new business is an online marketplace for consumer goods, spare parts, accessories, and tools for fixing them. Its biggest markets are Kenya and other emerging countries where cheap fixes are in high demand.
The website assists businesses in locating the products that they require. Through the process of market centralization, Revivo makes it simpler for service firms to locate components and conduct business. Customers are more satisfied with their purchases when the prices are straightforward, the products are of high quality, and the delivery time is reasonable.
Revivo’s goals go beyond merely accumulating wealth. The organization encourages the growth of the repair economy in order to reduce the cost of electronic goods and improve their impact on the environment. The mission of Revivo is to promote sustainable development and healthy lifestyles across the continent.