Last week, we recorded eight funding deals across the African startup ecosystem. Leading data and cloud martech startup, Terragon raised $9 million in Series B funding. Additionally, GoSolr received an investment from African Rainbow Capital to accelerate its operational targets and meet the increasing demand for affordable solar solutions.
Funding
Bohikor
Funding round: Angel funding ($20,000)
Investors: Mountain Angel Network
Founded: 2021, Cameroon
Founders: Effansa Simon Balemba
Product: Bohikor provides a comprehensive suite of financial management solutions, including budgeting, expense tracking, savings, early earned wage access, and personalized finance coaching.
What next?: Bohikor plans to utilize the funds to recruit software developers for creating new platform features such as earned wage access, savings, and financial coaching.
YeneHealth
Funding round: Pre-Seed (Undisclosed)
Investors: Jaza Rift Ventures (Lead)
Founded: 2021, Ethiopia
Founders: Kidist Tesfaye
Product: YeneHealth provides a variety of services centered around sexual and reproductive health, including menstrual cycle tracking, pregnancy monitoring, e-pharmacy with discreet options for ordering and delivery/pickup, telemedicine, and culturally sensitive educational content.
What next?: YeneHealth aims to expand its platform’s reach, improve product development, and forge strategic partnerships, propelling the startup to become a leading player in the femtech sector throughout Africa.
Clafiya
Funding round: Pre-Seed ($610,000)
Investors: Norrsken Accelerator, Acquired Wisdom Fund (AWF), Hustle Fund, Voltron Capital, Microtraction, Ajim Capital, HoaQ, Bold Angel Fund, and others
Founded: 2020, Nigeria
Founders: Jennie Nwokoye
Product: Clafiya offers in-person and virtual consultations, connecting patients with healthcare professionals for medical advice and treatment. The startup’s comprehensive healthcare service includes at-home collection of diagnostic testing samples for added convenience.
What next?: The company plans to continue growing in Nigeria and explore expansion opportunities beyond its borders.
Spiker
Funding round: Pre-Series A ($600,000)
Investors: Inclusion Japan, DG Incubation
Founded: 2020, Japan (Based in Rwanda)
Founders: Ayako Kasai
Product: Spiker has developed Alert-Monitor, an innovative combination of artificial intelligence (AI) technology and central monitoring software, specifically designed to analyze fetal heart rate labor chart data.
What next?: The recent funding will be used for sales activities in Africa, AI development, and obtaining medical device certifications.
FarmWorks
Funding round: Pre-Series A ($4.1 million)
Investors: Acumen Resilient Agriculture Fund (Lead), Livelihood Impact Fund, Vested World, and others
Founded: 2020, Kenya
Founders: Yi Li, Peter Muthee
Product: FarmWorks operates an out-grower scheme with over 2,000 smallholder farmers, offering farm inputs, pest control services, and purchasing their produce for export or local sales. It also provides farming equipment like drip irrigation kits on loan.
What next?: The funds will be used to enhance FarmWorks’ technological infrastructure and provide better support to farmers in their network.
Terragon
Funding round: Series B ($9 million)
Investors: Orange Ventures (Lead), TLcom Capital, LoftyInc, Sango Capital, VestedWorld and Western Technology Investment (WTI)
Founded: 2009, Nigeria
Founders: Elo Umeh, Deji Balogun
Product: Terragon offers a consumer insight and activation platform that collects, organizes, and enriches customer data from various sources, enabling marketers to gain a deeper understanding of African consumers.
What next?: The investment will enable Terragon to enhance its platform with stronger cloud-native capabilities, accelerate the development of localized ML and AI, and lay the groundwork for improved enterprise communication.
GoSolr
Funding round: Unknown
Investors: African Rainbow Capital
Founded: 2021, South Africa
Founders: Andrew Middleton
Product: GoSolr offers solar-as-a-service with fixed monthly fees, making residential solar solutions affordable, smart, and secure to accelerate the shift to solar energy in South Africa.
What next?: The investment will help GoSolr accelerate operational targets to meet the growing demand for quality, affordable solar solutions.
Others
Rwanda’s Eden Care Selected For YC Accelerator S23 Batch
Twenty Ghanaian Startups Graduate From UNICEF StartUp Lab Accelerator
Opportunities for Startups
Level up your SaaS startup with Startup Wise Guys!
Join the Fintech revolution in Africa with the Visa Accelerator program
Get into a pan-African investment readiness program dedicated to advanced startups
Apply for the GCSP Prize for Innovation in Global Security
Apply for potential funding through Zambia Business Angel Network
