Global data company Rwazi secures $12 million investment to revolutionize international consumer understanding
In a significant move to revolutionise the consumer insights landscape, AI intelligence startup Rwazi has successfully raised a $12 million Series A round. Founded in 2021 by Joseph Rutakangwa and Eric Sewankambo, Rwazi aims to bridge the gap in timely and reliable consumer insights in developing markets, such as India, Brazil, Turkey, and much of Africa.
The funding will be utilised to propel several key expansion and development initiatives. Rwazi plans to deepen its simulation capabilities, enhance its simulation engine that allows teams to predict outcomes and make informed decisions by simulating various scenarios in real-time. Furthermore, the company is set to expand its global data infrastructure to serve global brands better, offering them access to more comprehensive and real-time consumer data across different regions.
The funding will also be channelled towards enhancing Rwazi's AI Co-Pilot. This tool provides real-time insights and recommendations for decision-making across various company functions, helping teams respond more effectively to changing market conditions by contextualising data and suggesting next best moves. Additionally, Rwazi intends to scale its engineering teams to support these advancements, ensuring a robust and efficient platform for decision-making.
Rwazi's ambition is evident in its plans to expand its reach in the U.S. and Europe. The startup, which operates in 190 countries, already boasts a impressive clientele that includes Coca-Cola, Pampers, Visa, and Nestle. The company's focus remains on continuing to refine infrastructure for real-time, actionable insights.
The genesis of Rwazi can be traced back to the observation that government and third-party data were often outdated or fragmented, leading to the creation of a solution that uses zero-party data, which is voluntarily shared consumption data captured in real time with advanced verification systems. Rutakangwa, the founder, spent nearly a decade searching for accurate consumer insight tools before deciding to build his own.
The round was led by Bonfire Ventures, who also led Rwazi's $4 million seed funding in 2022. This new funding and expansion strategies suggest Rwazi's ambition to become crucial for brands navigating shifting global consumer patterns. With these developments, Rwazi is poised to redefine the consumer insights landscape, providing businesses with real-time visibility into consumer behavior across global markets, thereby helping them anticipate trends, reduce acquisition costs, and build loyalty.
The funding secured by Rwazi will be allocated towards enhancing its AI Co-Pilot, offering real-time insights and recommendations for business decision-making, and scaling its engineering teams to support these advancements. Additionally, Rwazi plans to expand its global data infrastructure to serve global brands better, providing them access to more comprehensive and real-time consumer data across different regions. This, in turn, will support the company's ambition to become a crucial asset for brands navigating shifting global consumer patterns, redefining the consumer insights landscape in the realm of finance, technology, and business, backed by the application of artificial intelligence.
