Lengo AI, a Dakar, Senegal-based AI-driven FMCG (Fast-Moving Consumer Goods) intelligence platform, raised a pre-seed funding round.
SaaS Investors
The round was co-led by Acacia Ventures and Ventures Platform, with participation from P1 Ventures, Launch Africa, Voltron Capital, and other VC firms and angel investors.
Acacia Ventures is a venture capital firm that invests in early-stage companies throughout the Middle East and Africa. Founded in 2011 and is based in Cairo, Egypt with a regional office in Dubai, United Arab Emirates.
Founded in 2015, Ventures Platform is a venture capital firm based in Abuja, Nigeria. The firm prefers to invest in technology companies in Africa.
Lengo AI Use of Funds
The funds will be used to expand Lengo AI's technology and sales teams, further enhance the AI component of the product, and enter new African markets.
About Lengo AI
Founded in 2022 by Max Smith, Roger Xavier Macia, and Ismaila Seck, Lengo is a SaaS startup that provides an AI-driven intelligence platform for FMCG companies in Africa. The software-as-a-service platform uses a hybrid approach of Lengo Eagles (field agents) and AI to connect retailers and FMCG companies with real-time performance data on the sales of products. The platform also offers shopkeepers the opportunity to join the "Lengo Club," providing them with insights into customer behaviors, alerts on new products, and a loyalty point system. On the corporate side, Lengo AI helps local FMCG companies optimize resources and provides purchasing behavior data to international companies interested in investing in Africa.
Funding Details
Company: Lengo AI
Raised: Undisclosed
Round: Pre-Seed Round
Funding Month: October 2023
Lead Investors: Acacia Ventures and Ventures Platform
Additional Investors: P1 Ventures, Launch Africa, Voltron Capital
Company Website: https://www.lengo.africa/
Software Category: AI-driven FMCG (Fast-Moving Consumer Goods) Intelligence Platform
Source: https://www.wamda.com/2023/10/acasia-ventures-leads-pre-seed-round-senegal-lengo-ai