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

Issue #7: Africa’s Weekly Startup Review

In this week’s episode of Africa’s Weekly Startup Review, we recorded more fundraising announcements in the African startup ecosystem. If you missed it, here are the highlights:

  • Instabug raised $46M Series B
  • Agritech is on 🔥🔥🔥, with Victory Farms, Nile and Twiga’s investment in commercial farming into a new subsidiary.
  • African healthtech also recorded new funding activities
  • Autochek expands to North Africa after acquiring Morocco’s Kifal Auto.

Funding Announcements

Instabug, an Egyptian and San Francisco based startup that offers services for mobile app developers to help them in testing their applications, raised a $46 million Series B funding round from Insight Partners, Accel, Forgepoint Capital and Endeavor Catalyst.

Carepoint, an African healthtech startup democratising access to quality healthcare, raised a $10 million bridge round led by TRB Advisors. Other investors that participated in the round include Sangu Delle, Breyer Capital, Beyond Capital Ventures (BCV), M3, Inc, Asia Pacific Land/ Natural World Limited and Alan Waxman.

Twiga Foods, a B2B marketplace platform that sources produce directly from farmers and delivers it to urban retailers, invested $10 million into a new subsidiary, Twiga Fresh, to focus on commercial farming.

Nile, a South African agritech startup that connects fresh produce buyers and sellers by providing a platform for direct and secure transactions, raised a $5.1 million funding round led by Naspers Foundry, Platform Investment Partners, Raba Capital and Base Capital.

Victory Farms, a Kenyan aquaculture farm for tilapia fish comprising hatcheries, nursery ponds and deep-water cages for farming, raised $5 million in a funding round led by Ed Brakeman and Hans den Bieman.

Bamba, a Kenyan mobile-based enterprise software for African micro-merchants, raised a $3.2 million seed funding round led by 468 Capital. Other investors that participated in the round include Presight Ventures, Jigsaw VC, and Angel investors like Laurin Hainy of FairMoney, Leonard Stiegeler of Pulse and others.

Topship, a Nigerian logistics startup building an easy way for African businesses to import/export parcels and cargo/freight to their customers and distributors across the World, raised a $2.5 million seed funding round led by Flexport. Other investors that participated in the round include Y Combinator, Soma Capital, Starling Ventures, Olive Tree Capital, Capital X,  True Capital, Immad Akhund, Mercury CEO and Arash Ferdowsi, co-founder of Dropbox.

Zuri Health, a Kenyan digital healthcare company which provides affordable healthcare via mobile, completed its $1.3 million pre-seed funding round from DOB Equity, Launch Africa Ventures, and Founders Factory Africa. Other investors the company received investments from include V8 Capital, Platform Capital, Villgro Africa, Asime Ventures, and the Salik Family Trust.

Doxx, an Egypt-based healthtech startup that provides a unified platform that offers virtual healthcare and medication services via a widespread network of acclaimed providers, closed a $1.5 million seed funding round led by and Elevate.

FlexPay, a Kenyan online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa, raised an undisclosed amount from the Cairo Angels Syndicate Fund.

RapidDeploy, a South African emergency response platform, secured  investment from NedBank CIB.


Autochek, a Nigerian automotive technology company, expanded to North Africa after acquiring Morocco’s Kifal Auto.

And it is a wrap for this week.

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