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Kenyan Startup Bamba Group Acquired By UK Based Energy Firm, Maximeyes Group

Kenyan Startup Bamba Group Acquired By UK Based Energy Firm, Maximeyes Group

Mergers and Acquisitions

Kenyan Startup Bamba Group Acquired By UK Based Energy Firm, Maximeyes Group

Bamba, a boutique data collection agency has been acquired by Maximeyes Group, a business incubator, investor and a top energy solution provider in the UK for an undisclosed sum.

Founded in 2013 by Al Ismaili, Shehzad Tejani, and Faiz Hirani, Bamba uses a proprietary technology that specializes in rapidly gathering cost-effective and high-quality consumer insights from emerging markets that can be otherwise challenging to reach.

The technology allows the building of highly targeted and responsive panels for data collection while incentivizing respondents with instant mobile airtime.

Bamba boasts of clients that include local companies, multinationals and international aid organizations including Mercy Corps, Twiga Foods, Technoserve and University of Zurich among others.  

Read: Kenya’s BiasharaBot Secures US$50,000 From Leapfrog Ventures

“We’ve been involved with Bamba since their launch and are impressed by the capability of their technology and the opportunity to further develop the software into new markets. The acquisition helps us to strengthen our technology portfolio and bring better solutions to our customers.” Shamir Jiwa, Founder of Maximeyes Group.

In 2016, Bamba was accepted into the prestigious TechStars accelerator program, where they gained business development mentorship, customer acquisition guidance, talent recruitment channels, and raising the initial seed capital.

Bamba, closed its first investment round in January 2017 of US$1.1 Million. The round included Maximeyes and a diverse global investor base that spanned Silicon Valley, New York, Washington DC, Austin, London, and Africa.

These would include Star Powers Partners II LLC which comprised of Foundry Group, Right Side Capital, Draper Associates, Landscape Capital, Silicon Valley Bank, Winshall Walt, Iron Gate Capital.

Other previous investors include:

  • Perivoli Innovations Trust 
  • Brett Hurt – Founder of Coremetrics (acquired by IBM), co-founder and former CEO of Bazaarvoice (successful IPO) and co-founder & CEO of data.world 
  • Rishi Varma – Founder of AlphaDetail (Acquired by QuintilesIMS) 
  • Saurabh Khetrapal – Founder of People.com & Kazana Ventures 
  • Jason Reneau – Senior roles at uShip, Kiva Systems, MindBites, and FreeMarkets 
  • Alykhan Nathoo – Partner at Helios Investment Partners 
  • Scott Kosch – Managing Partner at Kosch Capital Management 
  • Faisal Jiwa – Investment Director at AfricInvest Capital Partners 
  • Ed Keller – CEO at RoperASW (acquired by GfK) & CEO/Founder of Keller Fay Group. 
  • Aadil Mamujee – Founded Pocket Gems 
  • Dale Mathias – Active Angel Investor 
  • Edward Mathias – MD of The Carlyle Group 
  • Claude Wasserstein – Manager of Fine Day Ventures 
  • Darshan Chandaria – CEO, Chandaria Industries Group

“We are excited by the vision Maximeyes has for the Bamba technology. In particular, exploring how we utilize the technology to collect data and incentivize some of the Group’s customers. In addition, we are also excited to be able to extend the incentive offering to include energy credits as well as mobile airtime.” says Al Ismaili, co-founder, and CEO.

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