MEST commits $700k in seven African tech startups.
The Meltwater Entrepreneurial School of Technology (MEST) has committed a combined US$700,000 in seven tech startups that have graduated from its annual training program.
The seven startups will be given a chance to join over 40 companies in the ongoing MEST Africa incubation program that are part of the company’s portfolio in Ghana, Nigeria, Kenya, and South Africa.
The startups that secured the investment included; Ghanaian food delivery startup Heny, Ghanaian retail-tech platform Shopa, Nigerian e-wallet service Joovlin, Ghanaian cloud-based monitoring and evaluation platform KPI Lens, Kenya’s customer on-boarding platform Eleka, Ghanaian delivery service Boxconn, and Ghanaian reselling service Tendo.
These startups were taken out of 15 teams that pitched their startup ideas from countries such as South Africa, Mali, Congo, Cameroon, Ghana, Nigeria, Kenya, among others.
MEST is a pan-African training program, internal seed fund, and incubator for technology entrepreneurs in Africa that provides skills training in software development, business and communications.
Managing director of MEST, Ashwin Ravichandran, said, “We are blown away by the perseverance and talent we have seen in our entrepreneurs this year, as it has been a year filled with unexpected twists and turns.”
“This was the first time our entrepreneurs were trained mostly virtually and away from our campus, and I am proud to say they have come out stronger than ever. We are incredibly excited about the seven companies we have decided to invest in and look forward to continuing our support and mentorship as they launch their businesses across the continent. Our pan-African network of hubs and partners will allow the companies to position themselves in the best possible market for their entry and future expansion. We are also excited to see the addition of new industries in our portfolio companies such as FoodTech and Monitoring & Evaluation, amongst others.”
Founded in 2008 by the MeltWater Foundation, MEST Africa aims to help African entrepreneurs through its training and incubator programs.