Matta, a digital marketplace for chemicals, recently raised $5 million in seed funding to transform Africa's chemical supply chain and promote economic autonomy.

Information on the Target

Matta is an innovative digital marketplace dedicated to the chemical industry, designed to bridge the gap between chemical producers and manufacturers who require their products. By offering crucial third-party services such as logistics and trade financing, Matta plays a vital role in streamlining the supply chain process across Africa. Led by visionary founder Mudiaga Mowoe, Matta has garnered attention for its potential to revolutionize the chemical market landscape in Africa.

After successfully completing its initial pre-seed round in August 2022 through investment from Tofino Capital, Matta has continued to gain traction. The company recently secured a $5 million seed funding round, led by CRE Ventures, with the involvement of multiple reputable investors including Ridgeline, Jangoo, and FinTech Collective. This funding will enable Matta to expand its platform capabilities and further enhance its offerings to users.

Industry Overview in Africa

The chemical industry in Africa represents a significant sector with vast opportunities for growth. However, the absence of a dedicated commodities exchange for chemicals on the continent has historically hampered trade efficiency. Currently, Africa