Twitter co-founder and Block CEO Jack Dorsey is not only working on new social apps like Bitchat and Sun Day, Read more
For the past 18 months, Rivian and Google engineers have been working together on a new project that is now Read more
Humans have found it hard to quit fossil fuels, which is why some argue that we’ll soon need to start Read more
Coal-fired power plants have made quite a mess over the past century. From climate change to health issues, they haven't Read more
Joseph Rutakangwa dedicated eight years searching for tools to assist companies in collecting consumer insight data. Finally, he decided to develop them himself.
Now, his startup, Rwazi, has raised a $12 million Series A led by Bonfire Ventures to support companies with market intelligence and consumer insights. Founded in 2021 by Rutakangwa and co-founder Eric Sewankambo, Rwazi aims to address the lack of usable consumer and market-level data in international markets like India, Brazil, Mexico, Japan, Turkey, and China.
**AI-Powered Intelligence for Real-Time Consumer Market Visibility**
Via their startup, the duo created an AI-powered intelligence software system that provides businesses with real-time visibility into their consumer markets. This system assists in predicting consumer behavior and identifying crucial areas to focus on, ultimately reducing customer acquisition costs and enhancing customer loyalty. Rwazi’s clientele includes renowned consumer companies such as Coca-Cola, Pampers, Visa, and Nestlé.
**Strategic Growth and Expansion**
The company had previously secured a $4 million seed round in 2022, also led by Bonfire Ventures. With the latest funding, Rwazi plans to expand its AI co-pilot to enable its clients to make more precise real-time decisions. Additionally, they aim to recruit more engineers to support their operations. Currently, Rwazi gathers data from 190 countries, with a predominant customer base in the U.S. and Europe.
**Distinguishing Factors and Future Outlook**
Despite facing competition from established consumer insights companies like GFK and Ipsos, Rwazi sets itself apart by not relying on modeled or inferred data. Instead, their infrastructure facilitates insight and execution, allowing for proactive decision-making based on accurate consumer data.
Rutakangwa emphasized the importance of anticipating shifts, foreseeing trends, and making informed decisions ahead of the competition. Rwazi’s goal is to continuously enhance its infrastructure to capture the evolving landscape of consumer data and maintain its position as a leader in providing valuable consumer insights and intelligence.
