Redcity wins N2 million in Niprotech "Pitch to win" preseed competition. Morountodun Obaigbo, the company's founder and lead design engineer, pitched Redcity to the judges, including CEO of Cutstruct, John Oamen, Dr Roland Igbinoba of Niproptech, CEO of NMRC Mr Kehinde Ogundimu and Precious-Lily Akwaji Associate of AO Legal.
The award means that the proptech startup will receive N2,000,000 in equity-free investment including services and perks.
Alongside Redcity in the finalists were 7 other young prop-tech founders such as Brigow, Propperlly, Resavation, and a few others from Kenya and Nigeria.
Morountodun Obaigbo worded the judges in an excellent presentation that lasted less than five minutes, persuading them that Redcity was deserving of the sought-after N2m pressed financing.
The NIPROPTECH N2m proptech competition for the Pitch2Win competition, which is known for highlighting the most promising proptech entrepreneurs, was released one week before the event. The goal of this project was to find novel approaches to pressing proptech problems that would result in progress.
Morountodun Obaigbo founded Redcity in 2022, she studied design engineering and worked for years as a product designer, design engineer and business developer before launching Redcity to solve infrastructure problems in Africa.
Redcity is a proptech that allows users to customize and order modular structures via an online platform while developing these products using sustainable engineering techniques.
Redcity provides access for commerce, remote communities, and in reestablishing socioeconomic communities after climate change disruptions. Since its establishment, the company has developed over 15 projects in Nigeria, Egypt, and South Sudan and since its website launch in October 2023, it has seen almost 5,000 visitors from across Africa.
Redcity has partnered with multiple sustainable companies, EV companies, and commerce companies in developing modular structures to help scale small businesses as well as in establishing sustainably engineered structures for sustainable and Electric vehicle companies.
Redcity has partnered with multiple sustainable companies, EV companies, and commerce companies in developing modular structures to help scale small businesses as well as in establishing sustainably engineered structures for sustainable and Electric vehicle companies.
Read Redcity's pitch deck here.
As for any plans in 2024, Redcity is concluding distribution partnerships in Kenya, and Nigeria that will help the company scale up its operations and increase its available products.
Learn more about Redcity's research on sustainable flooring construction and follow Redcity on Instagram to stay updated on new partnerships.
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