Elloe, a US-based social e-commerce startup, focused on Kenya and other emerging markets, announced today the successful closing of a seven-figure round pre-seed round up.
Elloe says that the funding will facilitate the accomplishment of its mission to support micro SMEs in Kenya, promote its local operations and fuel expansion further into other Southeast Asian and African markets in 2023 and beyond.
One of the major investors of this pre-seed round was the Philippines’ Mad Ventures, Inc, and on Elloe’s official LinkedIn page, they said:
We are so excited to announce that we have raised $1 million pre-seed led by Mad Ventures Inc.
Mad Ventures, is a group of companies founded by Thomas Ahn and powered by the Mad Underground. Its mission is to provide digital services to micro-SMEs, particularly in the Philippines and the whole of Southeast Asia.
Elloe is a social e-commerce platform that manages AI and human conversation for SMEs. It is a B2B SaaS conversational commerce platform, allowing merchants to buy and sell products online across among various social channels. It was founded by Owen Sakawa, co-founded by Abhijay Rao, and Aaron Madolora.
With its headquarter in San Mateo, California, Elloe’s mission is to help businesses understand their customers by developing new ways around the e-commerce world with a major start in growing the local economy while utilising renewable energies and automating supply chains.
It also focuses on reducing major logistical carbon footprints with these new developments. The goal of Elloe is to bring together the forces of world-class e-commerce technologies into a simple form with easier access for the masses.
One of the uniqueness of the Elloe platform is the retailer’s ability to provide personalised feedback on their consumers’ preferred apps. Also, the platform has an artificial intelligence-powered tool for businesses allowing them handle their sales while building personal relationships on other messaging service platforms.
Elloe advanced technology helps these businesses increase their sales and profit because of their simplified operations, logistics, payments and marketing. There is also a centralised merchant portal with a subscription service that helps online micro-SMEs make sales without having to get involved with a non-essential third party.
We are very excited and humbled by the opportunity to partner with Mad Ventures, Inc and join its growing livelihood ecosystem as digital ambassadors to local Kenyan entrepreneurs and netizens.Elloe, Founder and CEO, Owen Sakawa
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