Ckrowd, Africa’s content streaming platform, has secured $60,000 of pre-seed funding and $100,000 export grant investment, respectively from an international angel investor group, as well as backing from the Export Expansion Facility Programme from NESP.
The Company said the investment will be used to disrupt the African and Afro-diaspora tech and content creation market and allow African content creators across Africa and the Diaspora to monetise their content and protect their content through structured Intellectual Property and copyright infrastructure.
Ckrowd plans to use its new capital to double down and expand with new innovative technologies and strategies to get more customers, accelerate growth and intra-African creative industries. In addition to that, the company plans to hire more talent, especially in product, research & design and engineering.
Kayode Adebayo, Ckrowd’s CEO said: “This is a great win for African people. The Ckrowd platform, similarly to a large arena in the cloud, can broadcast live & short on-demand video content and charges access fees on behalf of the creators of those content. This allows the platform to uniquely functions as an EdTech, Media-Tech & Ad-Tech hybrid.
“We continue to welcome investments as we continue to grow partnerships across the continent and the African Diaspora. Our mission is to tell our stories, shine a light on the beauty of African culture and lifestyle, while delivering economic value to African creators, who have always and are pioneers and trailblazers in showcasing the beauty of our culture and our people. The platform pays 70% of total income on content to creators, which we believe it’s the highest pay-out on digital content to African Creators.”
Adebayo added CKrowd seeks to solve the problem of poor revenue for African Content creators by allowing more revenue opportunities for them on the platform, while also providing an online portal where original, exclusive varieties of African content are well organized, can be accessed with ease and consumed as on-demand short videos and live series.