Ridesafe a Kenya-based first-time ‘insuretech’ mobile-based platform offering real-time health solutions to the general public motorbike sector within the event of an accident, has confirmed that it’s set to receive the maximum amount as USD 140 K in seed funding.
According to Asiimwe Benson, CEO, and Founder, RideSafe “We are going to be receiving USD 140 K in seed funding from Aeternity. We met with the Aeternity team at the planet Blockchain Conference that was hosted in Nairobi, Kenya, by Trescon. From there, we were able to sign on for an incubator and funding opportunity where over 60 startups had signed up from everywhere the world.”
The CEO further disclosed, “We were shortlisted among the highest 17 teams to participate, with Vite and UTU Technologies being the sole two other African startups that had qualified. After that, we went through a troublesome week of tests and training and that we were again shortlisted amongst the highest ten startups who were eligible to affix the incubation program fully and stand an opportunity to secure funding. We made our final pitch at the top of the incubation program and that we qualified for the funding.”
When questioned with regards to how the corporate intends to utilize the funding, Mr. Benson offered, “Most of the capital is going to be employed in expanding our operation scope and capacity to succeed in as many public service motorbike riders in Kenya as we can. Then, we are going to still ensure we’ve got the simplest technical support that we can get so on deliver not only quality but also efficient service.
On the occasion of the program’s closing, Nikola Stojanow, CEO, Aeternity Ventures, also expressed his satisfaction and delight at the keenness, dedication and far-reaching potential of the teams that made it to the finals. In step with him, “The finalists have demonstrated an innate ability to need our feedback and fine-tune their business models and roadmaps accordingly. I’m very excited to work out the project reach the following phase of its development.”