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What’s going on with the Nigeria Startup Bill?

What’s going on with the Nigeria Startup Bill?

On the 8th of May, a few members of Nigeria’s tech ecosystem together with the Presidency invited you to discuss the Nigeria Startup Bill. We reached out to you on short notice, only a few days to the time. Yet, over a hundred of you showed up. We held

African fintech company, Cellulant gets license to operate in Tanzania

African fintech company, Cellulant gets license to operate in Tanzania

Cellulant Corporation, a leading payment company in Africa has secured the approval of the Bank of Tanzania (BOT) to operate as a Payment Solution Provider in Tanzania. This approval was granted in principle after the telecom operator fulfilled all the requirements necessary for the approval. This approval makes Cellulant one

Jays Living Technologies Launches Nigeria’s First Item Finder startup, JaysFinder

Jays Living Technologies Launches Nigeria’s First Item Finder startup, JaysFinder

With the emergence of digitalization in our everyday life, there are bound to be times when we require assistance in getting to places, realizing where we are, and even remembering where we kept things. There is a need for tech systems that provides assurance of accurate navigation and location, this

South Africa Short-Term Insurtech Startup, Ctrl Secures $2.3m from Naspers

South Africa Short-Term Insurtech Startup, Ctrl Secures $2.3m from Naspers

South African short-term Insurtech startup, Ctrl, has announced it raised $2.3m from early-stage business funding initiative Naspers Foundry. Ctrl was founded in 2017 by Pieter Venter. The Insurtech startup is committed to offering digital short-term insurance advice to consumers, brokers, and insurers in the short-term insurance business. Basically, Ctrl

Vantage Capital closes 4th mezzanine fund worth $207m

Vantage Capital closes 4th mezzanine fund worth $207m

South Africa-based VC firm Vantage Capital has launched its fourth mezzanine fund. This fund will provide mid-sized African businesses with flexible capital that will enhance job creation and facilitate much-needed economic opportunities and growth. Founded in 2001, Vantage Capital is regarded as Africa’s largest mezzanine fund manager with offices

Patricia Relocates Headquarters to Europe

Patricia Relocates Headquarters to Europe

Three years old Nigerian Blockchain startup, Patricia has announced it is done with Nigeria and will be moving its headquarters to the Northern European country of Estonia. The announcement is coming after the startup has faced several unfavorable policies from the country’s regulators — SEC, and the CBN. Patricia was

UNDPTogo Launch $476k Annual Fund for Startups in Togo

UNDPTogo Launch $476k Annual Fund for Startups in Togo

The Support Fund for Economic Initiatives for Young People (FAIEJ) and the United Nations Development Program (UNDP-Togo) has launched the Togolese Facility for the Acceleration and ‘Innovation (FTAI) to provide $476k for young tech startups in the country. The platform aims to fund ambitious startups with innovative ideas, intending to

RxAll raise $3.15M to expand its drug checking and counterfeiting tech across Africa

RxAll raise $3.15M to expand its drug checking and counterfeiting tech across Africa

RxAll, a Nigerian health tech startup that uses deep technology to provide quality medication to patients, has announced the raise of $3.15 million to scale across existing markets and improve its technology. Founded in 2016 by Adebayo Alonge, Amy Kao, and Wei Lui, RxAll enables pharmacies and patients in

Nigeria’s SmartHotel Raises $1 Million Pre-A round to Expand its Services

Nigeria’s SmartHotel Raises $1 Million Pre-A round to Expand its Services

The Nigerian-based startup, SmartHotel, which develops software for the hospitality industry has secured a $1 million Pre Series A round to expand its services across Africa and Europe. The funding round was led by existing investor Smok Ventures, with support from LT Capital Ventures and Next Road Ventures. Other participants

South Africa’s home services Startup Kandua raises pre-Series A funding round

South Africa’s home services Startup Kandua raises pre-Series A funding round

Johannesburg-based home services eCommerce startup Kandua has announced it raised an undisclosed amount in a pre-Series A funding round to help it expand its product offering and grow further. The funding was raised by a group of investors including Knife Capital and Allan Gray E-Squared Ventures (AGEV). Kandua was founded

African Startups Invited to Apply for UNICEF Seed Funding

African Startups Invited to Apply for UNICEF Seed Funding

African tech startups have been invited to apply for UNICEF Innovation Fund’s $100K equity-free investments in early-stage startups. Interested startups must have a working business plan as well as the potential to help mankind in one of UNICEF’s program countries. The Innovation Fund’s main goal is to

Breyer Capital leads $1.5 million pre-seed investment in Chaka

Breyer Capital leads $1.5 million pre-seed investment in Chaka

Nigerian investment platform, Chaka has announced the raise of $1.5 million in a pre-seed funding round led by global VC firm, Breyer Capital. Other participants in the round include 4DX Ventures, Golden Palm Investments, Seedstars, Musha Ventures, and Iyinoluwa Aboyeji’s Future Africa. This is the second time in

Egyptian Healthtech Startup, Vezeeta, Expands to Nigeria, Kenya and Ghana

Egyptian Healthtech Startup, Vezeeta, Expands to Nigeria, Kenya and Ghana

Egypt-based Healthtech startup Vezeeta has announced it’s expanding its B2B SaaS pharmacy services to Nigeria, Kenya, and Ghana. The expansion is supported by TEAMFund, a US-based impact VC focused on promoting tech change and healthcare access in emerging economies. Vezeeta was founded in 2014 by Amir Barsoum and Ahmed

Egyptian Healthtech Startup Estshara Secures $500k In Seed Funding Round

Egyptian Healthtech Startup Estshara Secures $500k In Seed Funding Round

Cairo-based Healthtech startup Estshara has raised $500k funding from Egypt Ventures in a Seed fundraising round. Estshara is an e-health platform founded in 2018 by the duo of Amin El-Hemaily and Ahmed Mahmoud. The startup provides online health consultations and telepharmacy services. The pandemic and post-pandemic era have necessitated the

South African Fintech Startup Akiba Digital raises $1.1m pre-seed funding

South African Fintech Startup Akiba Digital raises $1.1m pre-seed funding

South African Fintech startup Akiba Digital has announced it raised over $1.1m in a pre-seed funding round led by Expert DOJO and Oui Capital. Other participants in the round include Basecamp Fund, Soma Capital, Hustle Fund, Future Africa, LoftyInc, a former PayPal executive, and a handful of angel investors.

South African Wellness app Strove raises $270k in Seed funding

South African Wellness app Strove raises $270k in Seed funding

Cape Town-based employee wellness app Strove has announced it raised $270k in a seed funding round led by venture capital firm, Launch Africa. Strove was founded in 2020 by Chris Bruchhausen in partnership with The Delta. The startup is an activity-based application that enables companies to incentivize their employees to

Egypt’s Taager Closes $6.4M Seed Round led by 4DX Ventures, with participation from Breyer Capital

Egypt’s Taager Closes $6.4M Seed Round led by 4DX Ventures, with participation from Breyer Capital

Taager, an Egyptian social e-commerce platform empowering online merchants with end-to-end logistics has secured $6.4M in a Seed funding round, led by 4DX Ventures, a pan-Africa-focused venture capital firm. The round also saw participation from Raed Ventures, Beco Capital, Breyer Capital, and several key private investors including Magnus Olsson,

Kenyan Adtech Startup AIfluence raises $1m seed funding round

Kenyan Adtech Startup AIfluence raises $1m seed funding round

Kenyan Adtech startup AIfluence has announced it raised $1m in a seed funding round. The round was led by the Dubai-based EQ2 Ventures, including Antler East Africa, Nigerian VC Oui Capital, ArabyAds, and a European family office. AIfluence was founded by Nelson Aseka (CEO), George Issaias (CMO), Lamusia Anzaya (COO)

US-based Bevy acquires Egyptian virtual events platform, Eventtus

US-based Bevy acquires Egyptian virtual events platform, Eventtus

Eventtus, an Egyptian interactive event platform that allows organizers to engage attendees has been acquired by Bevy, a California-based enterprise software startup for virtual conferences and community events. Financial details of the acquisition were not disclosed, but according to a statement accredited to Eventtus, it was a ‘good deal’ for

Moroccan Eyewear eCommerce Startup LNKO Secures $335k Funding

Moroccan Eyewear eCommerce Startup LNKO Secures $335k Funding

Moroccan eyewear eCommerce startup LNKO has announced it received a $335k investment from CDG Invest. LNKO was founded by Maha Bennani in 2020, the startup is a direct-to-consumer (D2C) eyewear company that offers excellent glasses directly to customers. Note that LNKO has benefited from close support as part of the

Moroccan e-signature Platform Damanesign raises $450k

Moroccan e-signature Platform Damanesign raises $450k

Morocco-based e-signature platform Damanesign has announced it raised $450k from the Maroc Numeric Fund II to expand its operations. Damanesign was founded in 2021 by Zouhair Hamdaoui to provide companies with digital trust solutions such as electronic signatures, seals, and timestamps, offering advanced management of signature transactions. Dounia Boumehdi, managing

Visa launches First Card Payment Service in Somalia

Visa launches First Card Payment Service in Somalia

In its bid to enable Somalians to enjoy local and international cashless payment opportunities, Visa has announced a partnership with the International Bank of Somalia (IBS Bank) to launch Somalia’s first Visa card payment service. Note that in February 2021, Somalia’s central bank announced that the country’s

Ecosystem Integrity Fund Targets African Cleantech Startups with New $250 Million Fund

Ecosystem Integrity Fund Targets African Cleantech Startups with New $250 Million Fund

Ecosystem Integrity Fund, a US-based venture capital firm, has raised $250 million for sustainable firms, including two in Africa. In a statement, the San Francisco-based clean-tech investment firm said it closed its fourth fund with support from the Tennessee Valley Authority Retirement System and Franz Haniel & Cie, a family-owned

Elmenus raise $10 million from Fawry and Luxor Capital to expand its offering

Elmenus raise $10 million from Fawry and Luxor Capital to expand its offering

Egyptian food discovery, ordering, and delivery platform Elmenus has announced the raise of $10 million in a pre-Series C funding round led by the leading Egyptian payment provider, Fawry. Other participants in the round include Luxor Capital and Egyptian property developer Marakez. Luxor Capital is a New York-based hedge fund

Nigerian health-tech startup, CribMD, acquires Charisland Pharmaceuticals

Nigerian health-tech startup, CribMD, acquires Charisland Pharmaceuticals

CribMD, a Nigerian health tech startup, has announced its acquisition of Charisland Pharmaceuticals Group. This deal is coming after CribMD raised $2.6 million in an oversubscribed seed funding round 2 months ago. The startup disclosed that this acquisition is to ensure fast and efficient one-hour drug deliveries to its