Kenyan athletic footwear brand attracts venture - sportstextiles: Lea SportsTextiles

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Kenyan athletic footwear brand attracts venture capitalist offer

17/10/2016
One of the founders of Kenyan athletic footwear brand Enda, Navalayo Osembo, presented the company’s first shoe, the Iten, to four investors during Kenyan television’s inaugural series of Lions’ Den, a local version of an international programme idea in which start-ups and inventors bid for funding and expertise from seasoned venture capitalists.

Ms Osembo pitched successfully and received an offer of $60,000 in funding from one of the venture capitalists on the show, Kris Senanu. However, she turned the money down because Mr Senanu asked for more equity in Enda than she was prepared to give.

She told the panel that Enda has succeeded in selling 1,000 pairs of its first running shoe and is aiming to sell 10,000 in 2017.


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