Grace Ashiru
In a seed investment round that was oversubscribed, the hybrid hardware-software business Qwili, which has its headquarters in Cape Town, raised $1.2 million to support the launching of its inexpensive NFC smartphone.
In addition to Untapped Global, Next Chymia, and Strat-Tech, Next Chymia, the fundraising round was led by E4E Africa, an organization that provides venture capital with an emphasis on entrepreneurship. The round also included angel investors and funds.
Qwili is a hardware-software combination that consists of a Near field smartphone and a digital sales ecosystem.
Users can market value-added services to their acquaintances, neighbours, and the general public with the assistance of the software that the company provides. These services include food apparel, selling data, electricity, pay-TV subscriptions, electricity, and much more.
Increased digital goods and services are one of our most pressing organizational priorities. According to statements made by Luyolo Sijake, the co-founder and CEO of Qwili, “Achieving this does not solely lie in innovations and technologies, but also in leveraging existing technology in acceptable ways that benefit and reach more people.”
The boost has made it possible to significantly extend the team as well as its development talents, in addition to maintaining Qwili’s existing effect. The company’s hardware sector should begin introducing new product lines and place greater emphasis on research and development.
The new capital will be put to use in the production of new hardware, the hiring of additional people, and the development of new applications.
