Social publishing platform AMAKA Studio has raised $2 million in seed funding to empower Black and African creators globally.
Equitane (formerly Africa Transformation and Industrialization Fund: ATIF) led the funding round alongside key partners Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and a group of angel investors.
Meet AMAKA Studio
Founded in March 2021, AMAKA Studio started as a media company for Pan-African women before pivoting to a more impactful creator platform. The social publishing platform empowers Pan-African creators to reach a global audience and earn through subscriptions, events and more.
AMAKA Studio wants to become the go-to destination for both emerging and established creators. It offers automated tools that make it easier for creators to connect with brands, manage their work, and monetize their content effectively.
“This investment enables us to scale to a full proposition and technological ecosystem for creators to share content while also being commissioned for their work on the platform,” Co-Founder and CEO Adaora Oramah explained in a press release.
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“We aim to compensate Black and African creators for their work and address their current pain points while allowing audiences to browse and support both emerging and established content creators. Brands can use our platform to source creators for branded content and marketing strategies, driving equality and equity for African content creators worldwide,” she continued.
Anish Jain, CEO of Equitane, expressed his excitement about AMAKA Studio’s future: “We are excited to lead the investment in AMAKA Studio’s remarkable journey towards revolutionizing the creator economy. At Equitane, our mission to drive sustainable and innovative development aligns perfectly with AMAKA’s vision to empower creators through cutting-edge technology and financial solutions.”
How AMAKA Studio’s Funding Will Be Deployed
Over the past three years, AMAKA Studio has evolved into a diverse and engaging space where creators and brands have thrived. Moving forward, the platform will expand to allow creators and brands to establish direct working relationships and enjoy various automated and intelligent tools.
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The $2 million investment will be strategically allocated across the following core areas to drive AMAKA’s growth and innovation:
- Expansion of AMAKA Gigs: The Gigs platform will evolve, allowing brands to quickly discover, commission, and manage Black and African creators worldwide in a more streamlined and transparent process.
- Enhanced Payment Solutions: Integrating digital wallets and accounts will provide creators with seamless payment options, addressing one of the creator economy’s most pressing needs.
- Targeted Marketing Campaigns: The funding will help to launch comprehensive product, content, and performance marketing campaigns to drive user acquisition, activation, and retention and foster a vibrant community of creators and users.
Main Image: Amaka Oramah UG
Image Source: AMAKA Studio
