OXOSI Announces Seed Funding
Funding from Kupanda Holdings to Support OXOSI – online retailer for pan-African luxury brands
NEW YORK, September 21, 2016 – OXOSI.com, an e-commerce platform for contemporary and luxury African design, announces a round of seed funding from Kupanda Holdings. The funding is intended to accelerate the Company’s growth.
“OXOSI addresses one-sided and antiquated perceptions of Africa by exposing global consumers to African luxury fashion.” said Bobby Pittman, Managing Partner of Kupanda Capital. “We see tremendous opportunity in the management team’s vision and are pleased to provide our business building expertise and global network to accelerate OXOSI’s growth.”
“Africa is happening. Under the term we’ve coined Afromodernism, the global presence and influence of African creative culture and its diaspora is stronger than it has ever been, and getting stronger by the day.” said Akin Adebowale, co-founder, CEO and Creative Director of OXOSI. “OXOSI brings Africa to the world with a three-component platform that consists of commerce, content, and community.”
“We believe that a large opportunity exists internationally for leading luxury and contemporary African design brands seeking to sell products to consumers outside of their home markets.” said Kolade Adeyemo, co-founder and President of OXOSI. “By helping these brands export, we can finally tap into this large global market opportunity to help commercialize their creative talent and share their unique stories.”
“The OXOSI team has a keen understanding of the African design industry combined with a distinct aesthetic and editorial perspective that creates a unique value proposition,” said Linda Oramasionwu, Partner at Kupanda Capital. “We look forward to partnering with Akin and his team to build upon the foundation they have already established.”
On September 21, 2016, Bloomberg Philanthropies and the U.S. Department of Commerce will co-host the second U.S.-Africa Business Forum, a day focused on increased trade and investment between the U.S. and African nations. Among the forum speakers is Barack Obama, President of the United States. On this occasion OXOSI and Kupanda will hold a press conference at the U.S.-Africa Business Forum to officially announce their partnership to the media.