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A collection of 438 posts

Morocco’s State-Owned CDG Invest Fund, Selects 12 Startups for its Incubation Program

Morocco’s State-Owned CDG Invest Fund, Selects 12 Startups for its Incubation Program

CDG Invest, the investment arm of Morocco’s state-owned CGD Group in charge of the country’s long-term savings, has chosen 12 Moroccan startups to benefit from its incubation program as reported by Morocco World News. According to a press release from the company, CDG Invest is planning to finance

Janngo Capital’s first close of €60m fund to support African women

Janngo Capital’s first close of €60m fund to support African women

Pan-African Venture Capital (VC) company, Janngo Capital Startup Fund (JCSF), second investment vehicle of the management company has announced the first close of its €60m ($63 million) capital commitments at €34m ($36 million). This was after VC Investor, Founder & Executive Chair of Janngo Capital, Fatoumata Ba announced in 2019 that

The Ouut Spotlights Medtech Africa, Nigerian Health-tech With Focus On Non-Communicable Diseases

The Ouut Spotlights Medtech Africa, Nigerian Health-tech With Focus On Non-Communicable Diseases

When American athlete and swimmer, Michael Phelps said, “The problem with heart disease is that the first symptom is often fatal,” he definitely knew that the heart would function till it can’t have it anymore, with no complaints, no notice, no symptoms till it is about to give up.

FrontEnd Ventures Prepares To Supports Kenyan Startups With $5Million

FrontEnd Ventures Prepares To Supports Kenyan Startups With $5Million

Kenya-focused venture capital fund, FrontEnd Ventures has closed its first $ 1 million venture capital fund to make funding available for early-stage startup founders in Kenya. Launched in 2021 by Steven Wamathai and Njeri Muhia, the venture capital is supported by a Five million US Dollars ($ 5 million) fund which is

Nigerian Digital Bank, Umba secures $15m Series A to Expand into new markets in Africa

Costanoa Ventures

Nigerian Digital Bank, Umba secures $15m Series A to Expand into new markets in Africa

Umba, a Lagos-headquartered digital banking platform announced that it has secured $15 million in VC firm Costanoa Ventures-led series A round to expand into new markets in Africa. Alongside a couple of Nubank executives, investors like Tom Blomfield, the co-founder of Monzo, previous backers, Lachy Groom and ACT Ventures, and

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

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,

DIGITECH SECURES $330K PRE-SEED FUNDING ROUND

DIGITECH SECURES $330K PRE-SEED FUNDING ROUND

Ivorian Insurtech startup providing fully integrated and cloud-based Insurtech platform to incumbent insurance companies, Digitech, has announced it rasied $330k in a pre-seed funding round. BLOC Smart Africa fund (BLOC SA) led the round with the goal of advancing the development and marketing of Hyperion 2.0 reinsurance ERP software,

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

Meet the 15 startups selected for Google Startups Accelerator Africa Class 7

Google has announced the selection of 15 tech startups from Nigeria and six other countries to participate in its Accelerator Africa program, with Cote D’Ivoire being welcomed to participate for the first time. In a statement, Folarin Aiyegbusi, Google’s Head, Startup Ecosystem, Africa, noted that the selected companies

Moove, Nigerian-based Mobility start-up raises $105M Series A2 to expand into seven new markets across the globe

Left Lane Capital

Moove, Nigerian-based Mobility start-up raises $105M Series A2 to expand into seven new markets across the globe

Moove, a Nigeria-based mobility fintech startup that provides seamless vehicle financing to drivers of ride-hailing platforms like Uber and other gig networks has raised $105 million in an oversubscribed Series A2 round to expand into seven new markets across Asia, MENA, and Europe over the next six months. The Series

Nexta raises $2.2m in a Pre-Seed round

Nexta raises $2.2m in a Pre-Seed round

Egyptian Fintech and next-generation banking startup Nexta has announced it is set to launch operations after satisfying all Central Bank of Egypt (CBE) requirements and securing a $2.2 million pre-seed funding round. The pre-seed funding round was led by Disruptech with the participation of key international backers, while Nexta

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

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

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,

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

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