Raknida, a Nigerian art-tech platform, has made a significant move by expanding into the US market, thanks to a substantial $100,000 grant from Arch Grants, a non-profit organization responsible for supporting startups, based in St. Louis, USA.
During the startup competition which involved 574 applicants, Raknida stood out as the only non-US startup selected, earning both financial support and an Entrepreneurship Excellence award.
According to the founders, Anthony and Afoma Ezeokoye, this development marks a major milestone for the company and aims to showcase African art and creativity globally. The art platform will now move 51% of its operations to St. Louis, USA, while looking forward to expanding to China, UK and other art markets. Speaking about Raknida disrupting the $27 billion art market using technology, Anthony said,
“There’s Spotify for Music, there is Amazon Kindle for books, there is Netflix for movies, art will have Raknida art streaming.”
With this investment, the platform will be able to strengthen its presence in the US market, connecting African artists with a broader audience and providing a unique opportunity for cultural exchange.
The founders also revealed that Raknida’s mission is not only to promote African art by making it accessible as music, but also to empower talented child artists in Nigeria. The platform has also partnered with Hearts of Color, a nonprofit initiative, to provide quality education, art mentorship programs, and scholarships to deserving young artists.
Statistically, the United States dominates the art market with 42% global art sales, followed by China at 19% and the United Kingdom at 17% and Raknida’s expansion is apt. With its unique blend of technology, art, and social responsibility, the platform is making a significant impact for Africa on the global art scene.
