Thread by @MwangoCapital

Kune Food. A short story.

1. Kune Food was launched in December 2020:

"After three days of coming into Kenya, I asked where I can get great food at a cheap price, and everybody tell me it’s impossible" - Founder Robin Reecht

2. Their goal?

" The goal? To provide affordable, convenient and tasty meals"

3. They raised USD 1M in pre-seed funding in June 2021.

4. From the July 2021 Kune Food report:

5. August 2021. Kune Food launched kune retail.

6. Oct- November 2021:

A VP of Softbank invested in Kune Food.

7. December 2021: Official launch.

8. We did attend the high-powered launch btw:

https://twitter.com/MwangoCapital/status/1461651701711134724?s=20&t=7cwbqGDUwDcHAnztaCh2kQ

9. December to February 2022 traction:

"Our traction has been tremendous, and above all expectations. In only 3 months since launching, we multiplied our sales by x12, from 3000$ of MRR to 37,000$ of MRR"

+ launched billboards + android and iOS apps:

10. Last we checked they were going to raise $6M for the seed round to expand across Africa:

Seems this did not work out and they have run out and will close shop soon.

11. They have tried to source for funds or to sell to a strategic buyer and all channels were closed:

"I have exhausted my options. Am just not able anymore to raise money, it’s impossible." - Founder.

12. The founder on LinkedIn:

"Many things could have been done differently, better certainly. The coming months will allow us to reflect on Kune’s failure, and I hope to share about it when the time will be right"

13/13. The end.

Kibandaskis remain undefeated.

Tomorrow evening on #MwangoSpaces, we reflect on the journey of Kune Food [@KuneFood], the lessons we can learn and what it means for the ecosystem.

twitter.com/i/spaces/1vAxR…

Tomorrow evening on #MwangoSpaces, we reflect on the journey of Kune Food [@KuneFood], the lessons we can learn and what it means for the ecosystem.

twitter.com/i/spaces/1vAxR…