August 27

Kenya’s data mining startup Bamba Group acquired by a UK energy firm

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Bamba Group is a startup founded in Kenya in 2013, which has been using proprietary technology to rapidly mine consumer data. From the mined data, the startup can rapidly come up with consumer insights from the emerging markets; reportedly in a cost-effective and high quality manner. As you might already be aware, getting consumer insight particularly from the emerging markets can be quite a challenge.

Bamba Group interacts with consumers and clients via SMS, mobile app, and the web. Clients can communicate with their potential customers, run survey, and get feedback from their clients, suppliers, and any other stakeholder.

The startup first came up on Innov8tiv’s radar when it participated in the Techstars Accelerator program held in Austin back in 2016. From that acceleration program, Bamba Group close its first round of investment the following year.

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One of the 2017 investors, Maximeyes Group, has now acquired the startup. The said firm – founded in 2004 – boasts of a portfolio of companies dealing with energy solutions, property, recruitment, and battery storage technology.

We’ve been involved with Bamba since their launch and are impressed by the capability of their technology and the opportunity to further develop their software into new markets,” said Shamir Jiwa, a founder of the London-based Maximeyes Group.

The acquisition helps us to strengthen our technology portfolio and bring better solutions to our customers.

The Bamba Group CEO and co-founder Al Ismaili said they were “excited” by the vision held by Maximeyes for their startup.

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In particular, exploring how we utilize the technology to collect data and incentivize some of the group’s customers. In addition, we are also excited to be able to extend the incentive offering to include energy credits as well as mobile airtime,” said Ismaili.


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