Global Market Analytics Company Rwazi Secures $12 Million Capital to Expand Consumer Data Collection Globally
In the rapidly evolving world of business, staying ahead of the curve is crucial. For many companies, this means having accurate and timely consumer data from emerging markets. This is where Rwazi, a groundbreaking AI platform, comes into play.
Co-founded by Joseph Rutakangwa and Eric Sewankambo in 2021, Rwazi has secured a $12 million Series A round, with the fresh capital set to scale its AI technology, hire new talent, and expand its customer base. The startup focuses on emerging markets, such as India, Brazil, Turkey, and certain parts of Africa, where timely and reliable consumer data is often lacking.
Rutakangwa, the driving force behind Rwazi, spent eight years searching for tools to help companies gather consumer insight data. However, he found that the data was often outdated, fragmented, or sometimes nonexistent. This led him to build a credible solution - a platform that captures real-time zero-party data, voluntarily shared by consumers.
This zero-party data is validated through AI, providing reliable insights into purchasing behaviour, product availability, and brand preferences across emerging markets. Rwazi's infrastructure allows for insight and execution, differentiating it from competitors like GFK and Ipsos.
Rwazi currently pulls data from 190 countries, with customers primarily in the U.S. and Europe. Top consumer companies such as Coca-Cola, Pampers, Visa, and Nestlé are current customers of Rwazi, indicating its credibility and effectiveness in providing actionable consumer insights.
The platform helps predict consumer behaviour and identify key areas for focus. It includes an AI-driven decision copilot that helps businesses make data-driven decisions, providing real-time visibility into market changes and suggesting next steps, reducing reliance on gut instincts and improving decision-making speed.
Rwazi's platform also enhances its simulation capabilities to simulate market outcomes and guide strategic decisions. This predictive power allows companies to anticipate and adapt to market shifts more effectively.
The funding round was led by Bonfire Ventures, with participation from Santa Barbara Ventures, Newfund, and Alumni Ventures. Rwazi aims to use the fresh capital to continue building infrastructure that captures the evolving world of consumer data, offering a unique blend of real-time data, AI-driven insights, and predictive capabilities that set it apart from competitors in the market intelligence sector.
[1] Rwazi. (2022). About Us. https://rwazi.com/about/ [2] VentureBeat. (2022). Rwazi raises $12M to help brands make data-driven decisions in emerging markets. https://venturebeat.com/2022/03/23/rwazi-raises-12m-to-help-brands-make-data-driven-decisions-in-emerging-markets/ [3] TechCrunch. (2022). Rwazi raises $12M Series A to help brands make data-driven decisions in emerging markets. https://techcrunch.com/2022/03/23/rwazi-raises-12m-series-a-to-help-brands-make-data-driven-decisions-in-emerging-markets/
- Rwazi, a technology-driven business, has recently secured $12 million in funding, which will be used to scale its AI technology, hire new talent, and expand its customer base, particularly in emerging markets.
- The AI platform, Rwazi, is unique in focusing on markets like India, Brazil, Turkey, and parts of Africa, where reliable and timely consumer data is often scarce, offering valuable insights into purchasing behavior, product availability, and brand preferences.
- The fresh capital will also aid Rwazi in its mission to continually evolve its consumer data infrastructure, setting itself apart from competitors like GFK and Ipsos through its blend of real-time data, AI-driven insights, and predictive capabilities.
- The funding round was led by Bonfire Ventures, with participation from Santa Barbara Ventures, Newfund, and Alumni Ventures, making strategic investments in a business that combines finance and technology to revolutionize market intelligence.
