Iraqi SaaS startup Midient has secured a pre-Seed funding round worth $125,000 from Flat6Labs, MENA’s leading early-stage Venture Capital firm. Being Flat6Labs’ first investment in Iraq, Midient will use the fresh funds to widen its scope in Iraq and further develop its mobile app. Midient provides a mobile

UAE-based B2B e-commerce platform Eighty6 has received $3.7 million in a Seed round, from Sanabil 500 MENA Seed Accelerator Fund, a few GCC family offices as well as other investors. The startup plans to use the new funding to upgrade its technological capabilities, expand its operations within the UAE,

Tunisian fashion e-commerce startup Drest.tn has secured $366,000 in a fundraising round from Tunis VC firm, 216 Capital Ventures. The fresh investment will accelerate the growth of the startup and help it expand into other African markets. Founded in 2022, Drest.tn is an online platform that offers

Here is a round-up of the Stories that made up the news in the African tech ecosystem this week. You can also read up on some of our insightful Features and Interviews this week. Dive Right In. East Africa • News/Analysis WHAT TO EXPECT AS AFDB, AFN SIGN $525K GRANT

Kumulus, a Tunisian startup that operates in the water industry is among the winners of the European Bank for Reconstruction and Development’s (EBRD) startup competition. EBRD AgVenture Challenge aims to support innovative early-stage agribusiness technology startups in the EBRD economies. The winners were announced at the EBRD Consumer Rules

In an effort to close the digital skills gap in Africa, MTN Group has introduced its flagship MTN Skills Academy in Zambia. The MTN Skills Academy is a free, online learning platform that was first unveiled at the Mobile World Congress in Kigali. The pan-African telecom is aggressively promoting the

UAE-based fintech startup, Pyypl– pronounced “people” has officially launched its social micro-investment platform for entrepreneurs and micro-SMEs in Africa. The initial phase of the launch is a partnership with Kenya’s Tuk Tuk Operators Network (TTON), a pan-African mobility network connecting Tuk Tuk operators across 47 counties. Pyypl’s platform

The central bank of Zimbabwe, the Reserve Bank of Zimbabwe (RBZ), has announced its plan to introduce a gold-backed digital currency. This initiative is a response to the current currency volatility in the country. The digital gold token will enable the Zimbabwean dollar to hold its value irrespective of foreign

E-commerce, Fintech, Healthtech, you can name it, Africa has it, but can investors support them all? Without specific comparison, there are obvious signs that technology has had a massive impact on Africa’s development. In Health, Finance, Catering, Agriculture, and other sectors, the adoption of technology has secured the continent’

Financial inclusion barely exists in Algeria thanks to the bureaucracy and inflexibility of the Algerian government which affects the emergence of fintech solutions. The country has a population of 45 million as of 2022, being the highest populated country in the Maghreb region of North Africa. However, as of 2022,

US-based Capria Ventures has closed its Global South Fund II, which aims to raise US$100 million. One of the leading investors in the fund is Gates Ventures founded by Bill Gates. Other institutional investors are Crystal Springs Foundation, OIP Investment Trust, Sall Family Foundation, Brakeman Family Trust, and two

Talk about a reward for your purchase, talk about Maholla. The South African consumer rewards app makes its users giggle every time they make a purchase. Maholla recently acquired $1.5 million in seed capital to support the development of its data platform and retail-agnostic rewards system. This is a

ICT solutions provider, Etisalcom Bahrain has partnered with Huawei to provide businesses in Bahrain with competitive cutting-edge technologies and state-of-the-art products. The goal of this strategic partnership is to transform Bahrain’s digital space. This partnership falls in line with the country’s vision of having a preeminent position in

The SAB Foundation has launched an R88 million Impact Fund in collaboration with LEAD Impact Capital and the National Treasury’s Jobs Fund. This grant is intended to provide accessible finance to qualifying entrepreneurs who have completed SAB Foundation initiatives in South Africa. The Impact Fund bridges the gap in

Emirati metaverse platform, Everdome has received additional investment from Bahamas-based digital 7asset investment firm, GEM Digital Limited (GEM). The fresh investment is an add-up of $50 million to the previous funding of $10 million last year, making a total of $60 million. In August 2022, GEM invested $10 million in

Fintechs arose due to the banking system’s low penetration and insufficient banking infrastructure. African countries have historically been hampered by a low level of financial inclusion. However, as mobile phone and telecom services expanded in the region, mobile money services emerged, adding to the answers to Africa’s financial

Convergence Partners, a private equity investor in the Sub-Saharan Africa tech industry has invested $10 million in 42Markets Group, a financial and capital markets fintech incubator and investment group. This investment follows the closing of Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million which surpasses its initial target by

The UAE-based startup, Intellia has rolled out its Artificial intelligence-powered vetting and project delivery platform for finance, strategy and public policy. The startup provides on-demand, 24-hour remote analysts for businesses through its proprietary AI-driven analyst vetting, training and quality control platform. Founder and Chief Executive of Intellia, Saad Raja said,

Saudi Arabian real estate technology startup Ajras has secured $533,000 in a pre-seed round from Angel investors. Headquartered In Riyadh, Ajras connects small and medium-sized companies with real estate owners by enabling entrepreneurs to search for real estate and choose their preferred property and its location via its platform.

The I’M IN entrepreneurial programme has announced the launch of its Ideation Incubator, a three-month programme dedicated towards female students with innovative technology start-up ideas. With support from J.P.Morgan, the program’s objectives include giving eligible female students a R50,000 equity-free investment as well as assistance