According to a recent blog post by humanipo.com, Kenyan mobile music startup Mdundo.com has received $125,000 additional funding to help scale its business.
Kenyan mobile music startup Mdundo has received an additional US$125,000 in funding to help scale its model across the East African region as well as selected African markets.
Taking into consideration the initial investment from the 88mph programme of $25,000, this brings the total funding to $150,000.
The funding comes from a group of local and international angel investors committing between US$10,000 and US$25,000 per person. The report also states that Mdundo is expecting another $25,000 from other angel investors by the end of the year.
Martin Nielsen, Mdundo’s head of operations and marketing, said the money will be used to increase the company’s presence in the region by adding additional content, especially from the Tanzanian and Ugandan markets.
