Browsing: SkyGarden

Sky.Garden, faces closure after funding fell through

Sky.Garden raised US$4 million in a Series A round of fundraising last year, bringing its total VC funding to US$5.2 million. Since 2017, the startup has had hundreds of small and medium-sized enterprises sell through its online marketplace. The firm guarantees “end-to-end” order fulfilment and earns an 8% commission on every sale made through its platform.

It’s a concept that was arguably best popularised by Amazon, albeit the e-commerce behemoth’s success in executing it has been partly due to massive economies of scale, which have given it more diversification and allowed it to balance falls in some areas against expansions in others.

Despite the fact that SkyGarden is rich with merchants and customers in Kenya, the company is substantially smaller, with only 46 employees, according to LinkedIn statistics.…