The Gateway to Africa's Startup Ecosystem
The Gateway to Africa's Startup Ecosystem

Issue #1: Pylon raised a $19M seed round, Umba raised $15M Series A, and more

We recorded more fundraising activities in the African startup ecosystem this week.

In case you missed it, here are the highlights:

Egyptian Startups

Pylon, an Egyptian utility management software platform for water and electricity companies, raised a $19 million seed round led by Endure Capital. Other investors that participated in the round by Cathexis Ventures, Loftyinc Capital, Khawarizmi Ventures and other angel investors.

Sprints, an Egyptian Edtech building the first end to end solution to bridge the tech talent gap in the Middle East and North Africa (MENA), raised a $1.2M seed round led by the Alexandria Angels Network. Other investors that participated in the round include members of MED Angels and AUC Angels, Cubit Ventures, Challenge Fund, EdVentures, Falak Startups and Cairo Angels.

Rology, an Egyptian on-demand teleradiology platform solving the problem of radiologists shortage, raised an undisclosed pre-Series A funding round. The investment was from Egypt Ventures, Sequence Ventures, Waseel, Tawaref, Viktoria Ventures, HIM Angels, AAIC, DAI and Cubit Ventures.

Nigerian startups

Umba, a Lagos based digital bank that allows users to spend, pay bills, get loans, and cashback all from their mobile phone, raised a $15 million Series A funding round led by Costanoa Ventures. Other investors that participated in the round include Lux Capital, Palm Drive Capital, Banana Capital, Streamlined Ventures, Tom Blomfield, Lachy Groom and ACT Ventures.

Simpu, a Nigerian B2B SaaS platform that allows people to chat, text, communicate & build quality relationships with their friends, clients and customers all from one app, raised a $1 million pre-seed funding round from angel investors and some early-stage VCs.

South African Startups

BioCertica, a South African biotech company that combines advanced genetic testing and encryption technology to unlock, interpret and protect customers’ identities, raised a $1.6 million seed funding round.

Finally ☺

Kudi changed its name to Nomba, as the company works to strengthen its expansion plans to reach more businesses with a range of services.

And it is a wrap!

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Issue #3: Union54 raised $12M seed extension, The Food Lab raised $4.5M pre-seed and more

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