Chpter Funding: Cofounders
Kenya’s AI-Driven Social Commerce: Chpter Raises $1.2 Million for Expansion in Africa
Chpter, an AI-powered social commerce platform, is gaining significant traction in the e-commerce space. The startup recently raised $1.2 million in a funding round to enhance its technology. Especially, in expanding its presence into Ghana and Nigeria. This comes at a time when 65% of e-commerce businesses are leveraging artificial intelligence (AI) to boost customer satisfaction, according to a recent report by Gartner.
Chpter’s Innovative Approach to Social Commerce
Founded in 2021 by Mark Kiarie and Kuria Kevin, Chpter has quickly positioned itself as a game-changer in the social commerce industry. In 2022, the company partnered with Tesh Mbaabu and Mesongo Sibuti, co-founders of MarketForce, to further expand its reach and capabilities. Chpter’s platform transforms popular social media channels like WhatsApp and Instagram. Transforming them into powerful sales tools by integrating chat, order processing, and payment functions. This all-in-one solution allows businesses to engage customers directly, streamline transactions, and enhance the overall shopping experience.
Chpter has already demonstrated significant success with major clients such as Britam and Kicks Kenya. Additionally, which have leveraged its platform to enhance their social media sales strategies. With a strong foothold in Kenya and South Africa, Chpter is now set to expand its innovative services to new markets in Ghana and Nigeria.
Strong Backing from Investors and Accelerators
The recent $1.2 million funding round was led by Ken Njoroge’s investment firm, PANI. Moreover, saw participation from notable investors including Plesion Capital, Techstars, Norrsken, Renew Capital, and ViKtoria Ventures. The round also attracted prominent angel investors such as Benjamin Fernandes of NALA and Paul Kimani and Jackson Kibigo, co-founders of Workpay. These investments underscore the growing confidence in Chpter’s vision and potential to reshape the social commerce landscape in Africa.
Additionally, Chpter has been accepted into the Norrsken Accelerator and the Safaricom PLC Spark Accelerator, programs that have been instrumental. Especially, in providing critical training, mentorship, and exposure to emerging tech startups. These accelerators have played a key role in strengthening Chpter’s market position and equipping it with the necessary tools and strategies to scale rapidly.
Expansion and Future Prospects
With the new funding, Chpter plans to enhance its technology further and expand its operations across sub-Saharan Africa, including entry into five new markets. This expansion strategy aligns with the increasing adoption of AI in e-commerce. Notably, where companies are seeking innovative ways to improve customer engagement and satisfaction. According to Gartner, AI technologies are helping e-commerce businesses understand customer preferences better, personalize offerings, and improve response times, all of which contribute to higher customer satisfaction.
As Chpter continues to grow, its focus on integrating AI and social media commerce positions it well to lead the next wave of digital retail transformation in Africa. The company’s approach not only enhances the user experience but also provides businesses with a scalable solution to reach customers across different social platforms.
In Sum
Chpter’s rapid growth and recent funding highlight the rising importance of AI in enhancing e-commerce experiences. By focusing on innovation and expansion, Chpter is poised to play a significant role in the future of social commerce across Africa. As more businesses turn to AI to boost customer satisfaction, platforms like Chpter will be at the forefront, driving growth and setting new standards in the industry.
