Elloe, a US-based social e-commerce startup focused on Kenya and emerging markets, announced today that they have raised an undisclosed amount in pre-Seed funding.
The new funds will give Elloe sufficient runway to grow its local Kenyan operations and fuel expansion into the Philippine and Southeast Asian markets well into 2023 and beyond.
Investors for the round were led by Philippines’ Mad Ventures, Inc.
Co-founded by Owen Sakawa, Abhijay Rao, and Aaron Madolora, Elloe is a first-of-its-kind AI-powered, social commerce platform which allows merchants to buy and sell products online across any messaging platform.
Elloe’s technology increases sales and profitability of businesses by simplifying operations, logistics, payments, and marketing within a centralized merchant portal.
The subscription service is especially helpful for micro-SMEs who wish to sell their products and services online without having to pay high commissions to non-essential 3rd parties.
“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,” said Elloe, Founder and CEO, Owen Sakawa.
Elloe brings together the powers of world-class e-сommerce technologies and makes them easy and accessible to the masses. The startup allows retailers to provide a personalized experience on their consumers’ preferred apps.
Through the Elloe platform, businesses get an artificial intelligence-powered tool that allows them to handle sales and build personal relationships, at scale, on Facebook Messenger, WhatsApp, and Instagram.
Headquartered in San Mateo, California, Elloe’s mission is to reduce a major logistical carbon footprint by developing new methods of e-commerce practices, starting by growing the local economy, utilizing renewable energies, and automating supply chains.
About Mad Ventures
Mad Ventures is a group of companies dedicated to providing digital livelihood as a service to entrepreneurs and micro, small, medium enterprise businesses in the Philippines and throughout Southeast Asia.
Powered by the Mad Underground, its innovative products empower communities and promote digital and financial inclusion with humanity and compassion at the company’s core. From e-commerce to payments to logistics, marketing and building communities, Mad Ventures innovate and curate services to enable new and rewarding experiences for both consumers and merchants.