Ventures platform invests in three African tech startups.
Ventures Platform has invested in three African tech startups, namely; Tambua Health, Brass, and FunnelJoy to help them scale their operations.
Ventures Platform is a Pan-African seed and early-stage fund that supports successful startups building capital-efficient platforms to fill infrastructural gaps, connect underserved communities, create efficiencies, solve for non-consumption, and improve livelihoods.
With this investment, the three startups have joined the fund’s robust portfolio of over 30 startups.
However, the amount invested in the three startups were undisclosed.
The three startups that secured the investment were: Kenya’s Tambua Health, Nigerian startups, Brass and FunnelJoy
Kenya’s startup, Tambua Health uses lung sound analysis to transform the diagnosis and treatment of respiratory diseases. Its device, T-sense, generates images of the lungs by detecting the vibrations of sound as air moves in and out of the lungs using sensor arrays put on the back of the patient.
On the other hand, Nigerian startup, Brass, is a digital bank that offers small and medium businesses with a set of products and tools designed to help them grow.
Meanwhile, Nigerian startup, FunnelJoy is an all-in-one tool developed for digital entrepreneurs, marketers, and creators to enable them to capture, convert, and engage leads as well as sell products online.
Speaking on the investment, Partner of Ventures Platform, Kayode Oyewole said, “Today, despite the reality of the current COVID-19 pandemic and its far-reaching second and third-order social and economic effects, our convictions haven’t changed as we believe that this pandemic makes a stronger case for investing in innovative startups that are nimble and able to benefit from a boost in user adoption and lower customer education costs as people find new ways to live, work and communicate”.
“Moreover, the way we get out of rot is by building”, he added.
Ventures Platform Fund is the venture arm of the pan-African innovation hub, Ventures Platform. It has supported startups in the field of education, healthcare, financial services, agriculture, and big data. It was launched in 2016 with its headquarters in Abuja, Nigeria.