Sybil Fekurumoh

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Sybil Fekurumoh

Egyptian health startup, Otida, raises $340k in pre-seed funding to help manage diabetes

Egyptian health startup, Otida, raises $340k in pre-seed funding to help manage diabetes

Egyptian health-tech startup, Otida, has secured $340,000 in a pre-seed funding round to expand digital treatment for diabetes across the country and the MENA region. The funding round was led by Pan-African VC firm Lofty Inc Capital Management, Flat6Labs Cairo, Afropreneurs, Jedar Capital, OQAL Angel Investors, UI Investments, and

Rwandan legal services startup, Hence Technologies, secures $1.8M in seed funding to expand company

Rwandan legal services startup, Hence Technologies, secures $1.8M in seed funding to expand company

Rwandan startup for lawyers, Hence Technologies has raised $1.8 million in seed funding to continue growing and expanding operations in Rwanda. This brings the total amount of funding raised in the past two years to $2.6 million. The seed funding round had various investors, including Daybreak Partners, Broad

Ghanaian startup, Yemaachi Biotech raises $3M, advances cancer research precision globally

Ghanaian startup, Yemaachi Biotech raises $3M, advances cancer research precision globally

Ghanaian Healthtech startup, Yemaachi Biotech, has raised $3 million in a seed funding round to advance cancer research globally. The funding round was led by V8 Capital and had, LifeLine Family Heritage Fund, Y Combinator, Tencent, LoftyInc Capital, VestedWorld, V Square Capital, and Ethan Perlstein as participants. Yemaachi Biotech is

VC Corner: How Dream VC plans to bridge the talent gap in the African Venture Capital Space

venture capital

VC Corner: How Dream VC plans to bridge the talent gap in the African Venture Capital Space

In the past two years following the pandemic, Venture Capital funding available for startups has seen an increase. According to reports, startups in Africa collectively raised over $4.3 billion in various funding rounds in 2021. A deeper look into this figure and the ones of previous years will reveal

Egypt state banks launch Nclude, an $85M innovation fund for fintech companies

Egypt state banks launch Nclude, an $85M innovation fund for fintech companies

Three of Egypt’s biggest state-owned banks are jointly setting up an $85 million financial technology fund called Nclude which aims at accelerating innovation in the fintech sector. The fund will focus on both accelerating fintech and driving financial inclusion in the country. Venture capital firm, Global Ventures, a partner

Senegalese logistics startup, Chargel raises $750k in pre-seed funding round

Senegalese logistics startup, Chargel raises $750k in pre-seed funding round

Senegalese startup logistics startup, Chargel, has secured $750,000 in pre-seed funding round to help grow the trucking industry as a brand that is efficient, reliable, and transparent in Senegal and other Francophone West Africa. The funding round, a mix of equity and debt, had in participation, Century Oak Capital

Moroccan digital booking startup, Guichet.com, secures funding from CDG Invest through its 212 Founders program

Moroccan digital booking startup, Guichet.com, secures funding from CDG Invest through its 212 Founders program

Morocco’s digital ticketing platform, Guichet.com, has secured 3 million MAD (about $306,348) to accelerate growth, begin new investments, and expand into other African markets. The equity investment was funded by CDG Invest, the investment arm of the CDG Group, under the 212 Founders’ program. Guichet.com is

Kenya's Sokowatch raises $125M in Series B as it rebrands to Wasoko to further expand across Africa

Kenya's Sokowatch raises $125M in Series B as it rebrands to Wasoko to further expand across Africa

Kenya-based B2B company, Sokowatch has raised $125 million in Series B round in full equity and rebranded to Wasoko. This funding is the largest funding round raised in Africa for a non-fintech startup. The series round was led by Tiger Global and Avenir Growth and also had participating VNV Global,

Morocco’s Green Energy Startup, Atarec, receives investment from UM6P Ventures

Morocco’s Green Energy Startup, Atarec, receives investment from UM6P Ventures

Capital venture firm UM6P Ventures has announced plans to invest in Atarec, a Moroccan renewable energy solutions startup. Atarec, an acronym for Advanced Third Age Renewable Energies Company provides third-generation renewable energy solutions and their applications with the aim of ensuring autonomy in green energy. Through its recently patented “Wave

Sudan’s 249Startups Hub launches “Rhino Investment” equity fund and Impact Acceleration Program for startups/SMEs in the country

Sudan’s 249Startups Hub launches “Rhino Investment” equity fund and Impact Acceleration Program for startups/SMEs in the country

Sudan-based innovation hub 249Startups Hub has announced the launch of an equity fund “Rhino Investments” to help fund 14 seed-stage startups and SMEs in the country. The hub would allocate $500,000 in capital and also launch an acceleration program to help these startups scale and grow their businesses through

Ghanaian e-commerce startup Tendo has launched in Nigeria with backing from big name investors

Ghanaian e-commerce startup Tendo has launched in Nigeria with backing from big name investors

Ghanaian e-commerce platform Tendo has launched in Nigeria after securing investments from leading accelerators such as Catalyst Fund, Google, and Y Combinator. The startup, allows anyone to start an online business without upfront capital. Tendo connects small businesses and merchants to individuals who resell. This allows resellers to add their

Egyptian logistics startup, Naqla, raises $10.5M in Pre-Series A Funding, to expand into other sectors

Egyptian logistics startup, Naqla, raises $10.5M in Pre-Series A Funding, to expand into other sectors

Egyptian logistics startup Naqla has raised $10.5 million in a pre-series A funding round to expand into other sectors. The round was led by prime investors El Sewedy Capital Holding (SCH), Hassan Allam Holding (HAH), and the Sallam Family. Co-founded in 2017 by Sherif Taher, Naqla is transforming the

Ivorian health-tech startup Susu raises $2.2M in pre-seed funding to help Africans access quality health care

Ivorian health-tech startup Susu raises $2.2M in pre-seed funding to help Africans access quality health care

Ivorian health-tech startup Susu has raised €2 million ($2.2 million) in a pre-seed funding round with angel investors. Part of the funding was also raised as debt, and grant financing from BPI France, the French government’s public investment bank. Susu is a global health-tech startup that provides preventive

Nigerian fintech startup Sudo Africa raises $3.7M in pre-seed funding to expand into other African markets

Nigerian fintech startup Sudo Africa raises $3.7M in pre-seed funding to expand into other African markets

Nigerian financial service startup Sudo Africa has secured $3.7 million in pre-seed funding. Sudo Africa is a card issuing API platform, that enables developers and businesses to issue physical and virtual cards instantly. The pre-seed round was led by U. S-based Global Founders Capital (GFC) and had participating, Picus

Kenyan retail startup Cartnshop raises $400k in angel funding to expand operations

Kenyan retail startup Cartnshop raises $400k in angel funding to expand operations

Kenyan e-commerce startup Cartnshop has raised $400,000 in its first funding round to accelerate commercialization operations in the coming months. Cartnshop is a tech-enabled platform that allows retail businesses in Africa to expand their sales, using online sales channels. Cartnshop uses a SaaS model to enable African SMEs to

Egyptian logistics startup, Milezmore raises $5M in pre-seed funding round led by Brimore

Egyptian logistics startup, Milezmore raises $5M in pre-seed funding round led by Brimore

Egyptian logistics provider startup, Milezmore has raised $5 million from the social commerce platform, Brimore in a pre-seed funding round. Milezmore is a cutting-edge, cost-efficient, tech-enabled logistics solutions platform that provides cloud fulfillment, last-mile delivery, and other tailored operations solutions. Milezmore is the first of its kind in Egypt, providing

SA’s Silvertree Brands acquires foodtech UCOOK in $12.3M deal

SA’s Silvertree Brands acquires foodtech UCOOK in $12.3M deal

South Africa’s leading consumer brand Silvertree Brands, has acquired food tech meal kit delivery startup UCOOK in a deal worth ZAR 187 million ($12.3 million). The South African dinner kit delivery service provides viable and ethically sourced ingredients delivered to users. The startup was co-founded by David Torr,

Four African startups to participate in the 10th Fintech cohort of the Catalyst Fund

Four African startups to participate in the 10th Fintech cohort of the Catalyst Fund

Four African startups have been selected to participate in the 10th fintech cohort of the Catalyst Fund, a global inclusive tech accelerator managed by BFA Capital. The African startups in the program include AquaRech, ColdHubs, TopUp Mama, Tulix, and two other startups, Koltin and Mujer Financiera, from Mexico and Argentina,

Egyptian logistics startup, OneOrder secures $1M funding from A15

Egyptian logistics startup, OneOrder secures $1M funding from A15

Egypt-based logistics startup, OneOrder, has successfully raised $1 million in a fundraising round to resolve supply chain inefficiencies for restaurants in Egypt. VC firm A15 led the fundraising round. OneOrder is a tech-enabled supplier and wholesale distributor platform covering the supply chain and distribution for HORECA, i.e., hotels, restaurants,

Kenyan fintech startup, Credrails secures seed funding to revolutionize financial infrastructure in Africa

Kenyan fintech startup, Credrails secures seed funding to revolutionize financial infrastructure in Africa

Kenyan financial infrastructure startup Credrails will close a deal worth $2.5 million in a seed funding round to connect Africa to its API. The seed funding round was led by Softbank Group Corp. and participated in Unicorn Growth Capital, Precursor Ventures, and Samos Investments. Credrails delivers the infrastructure to

Fawry partners other tech founders to establish ‘Roaderz’, a last mile delivery for SMEs

Fawry partners other tech founders to establish ‘Roaderz’, a last mile delivery for SMEs

Leading Egyptian e-payment solution provider, Fawry, has announced that it has signed an agreement with Samer Gharaibeh, Softec Technologies, and Ammar Zawaideh to co-found Roaderz, a tech-enabled crowdsourcing platform to connect individual couriers and small delivery operations with e-commerce merchants and social sellers. Roaderz, through AI, would allow merchants to

South African startup, Zindi raise $1 M to outsource data scientists to global companies

South African startup, Zindi raise $1 M to outsource data scientists to global companies

South African startup Zindi, has secured $1 million in a seed funding round to aid the expansion of its network of data scientists. The seed funding round had four investors, with Shakti Capital taking the lead, and had Launch Africa, Founders Factory Africa, and Five35 Ventures participating. Zindi is a

Nigerian fintech startup, Earnipay, raises $4M in seed funding to offer on-demand salaries to employees in Africa

Nigerian fintech startup, Earnipay, raises $4M in seed funding to offer on-demand salaries to employees in Africa

Nigerian fintech startup, Earnipay, has raised $4 million in seed funding to provide salary solutions to employees. The seed round was led by venture capital firm Canaan, with participation from XYZ Ventures, Voltron Capital, Ventures Platform, and Paystack CEO Shola Akinlade. Earnipay is a fintech solution that offers a start

VC Corner: the best startup founders are the ones willing to grind, think outside of the box – Eunice Ajim

VC Corner: the best startup founders are the ones willing to grind, think outside of the box – Eunice Ajim

In 2021, African startups raised over $4 billion in venture capital, with seven tech startups becoming unicorns, a meteoric rise from 2019 and 2020. This success for startups became a precursor for more funding activities by VC firms. Despite the huge capital that came into the continent, only two early-stage

Ugandan fintech ChapChap, secures funding to accelerate expansion within and beyond its borders

Ugandan fintech ChapChap, secures funding to accelerate expansion within and beyond its borders

Ugandan fintech startup ChapChap has secured funding to accelerate growth and social impact creation. The funding round was led by Nordic Impact Funds and conducted through the Investure-Impact Exchange. ChapChap provides financial support to small and medium enterprises by creating a financial profile for low-income individuals and businesses and making