Foreign venture capital news "Jambo" has completed a seed round financing of US $7.5 million and is committed to building "Web3 super application" in Africa

According to techcrunch, Congo based start-up Jambo recently announced that it had raised $7.5 million in seed funds, including coinbase ventures, 3aC, Alameda research, tiger global, Delphi ventures, alliancedao, defiance capital, yield guild games, polygon studios, and some angel investors from Web3 ecosystem, For example, Sandeep nailwal, co-founder and CEO of polygon, Santiago r Santos, former parafi partner, do Kwon, co-founder and CEO of terrain labs and partners of Delphi digital piers kicks participated in this round of investment.
The picture is from the official website
The start-up company “Jambo” was founded in November 2021. They are committed to building “Web3 super application” in Africa and obtain income opportunities through the logic of “learning, playing and making money”. Some experts said that Southeast Asia has become one of the best markets of Web3, and Africa is about to be overturned by Web3. Startups such as axie infinity and yield guild games are located in Southeast Asia and have raised millions of dollars in venture capital. The combination of rapid population growth, stable smartphone penetration, increased adoption of cryptocurrency, low per capita GDP and high unemployment makes Africa the next mature place of Web3.
James Zhang, co-founder and CEO of Jambo, said that Jambo hopes to add millions of users to Web3 in Africa through its application. Similar to axie infinity and other guilds, users can only earn income when playing games in revenue sharing mode, while “Jambo” adopts a two-way approach, allowing its users to earn income when participating in web2 and Web3 activities.
For example, users can save data expenses when using “Jambo”. James Zhang explained that “Jambo” can get a discount of nearly 70% in cooperation with telecom suppliers and sell it directly to users at a discount of 50% of the original cost. “This is one of our main user acquisition strategies. We hope to double the call time and data of each African.”
Second, “Jambo” is working with social media companies, so users can earn tokens when viewing their content on their apps, which can be converted into cash income. “By working with these social media companies, we tokenize part of their advertising budget and provide it directly to end users,” James Zhang said.
In addition, James Zhang said that at present, there are no Web3 games from Africa that make money through games because of the lack of certain infrastructure. Jambo wants to build such infrastructure. Nevertheless, “Jambo” does not intend to take a share of users’ income. Instead, Jambo’s revenue will come from the web2 model - charging advertising fees and commissions by selling call time and data.
As the “gateway to Web3 in Africa”, James Zhang said that Jambo will test more than 10 games in the coming months to introduce its operation to users. “Education is at the heart of our work, because I don’t think there is a shortcut in Africa. You have to educate the user base before you can consider making a profit at the end of the day or start acquiring users again, which is why we launch education courses on Web3,” he said.
The picture is from the official website
“Every component in our super app is actually designed to help ordinary people make money, such as watching videos to make money and save data expenses. So ideally, within three to six months after our app goes online, ordinary people can make $50 a month by playing axie infinity and another $20 a month by watching videos.”
“Jambo” is expected to release its beta version in the second quarter and officially launch in the third quarter. “What wechat has done in China,” Jambo “will also do in Africa. We are also pleased to support this a + team to become a Web3 super application on the African continent,” Web3 investor and former parafi partner Santiago r Santos said in a statement.