Issue #85: Injaro invests $2 million in Zeepay while Sukhiba Connect secures $1.5 million equity funding

We only recorded a few activities in the African startup funding ecosystem last week. Only four companies secured funds from investors. Of the four, only two announced the details of their deals, with Sukhiba Connect securing a $1.5 million equity funding while Zeepay got a $2 million investment from Injaro Investment Advisors. OBM Education and Much Software did not disclose their funding details.


Sukhiba Connect

Funding round:  ($1.5 million)

Investors: CRE Ventures, Antler, EQ2 Ventures, Goodwater Capital, Chandaria Capital

Founded: 2021, Kenya

Founders: Ananth Gudipati, Abhinav Solipuram

Products: Sukhiba Connect offers a B2B conversational commerce tool that enables businesses to conduct transactions, manage orders, and engage with customers directly via WhatsApp

What Next?: Fuelled by the funding, Sukhiba Connect intends to expand its offering beyond Kenya by capitalizing on the burgeoning popularity of WhatsApp in Africa, especially in countries like Kenya, Ethiopia, South Africa, Egypt, and Nigeria.


Funding round:  Series A ($2 Million)

Investors: Injaro Investment Advisors 

Founded: 2014, Ghana

Founders: Andrew Takyi-Appiah

Products:  Zeepay provides financial services for users, enabling them to make cross-border payments directly into mobile wallets. The company serves regions in Africa and the Caribbean. 

What Next?: The new funding will fuel Zeepay’s expansion efforts across multiple countries and also contribute to the company’s effort to reinforce its presence in these new markets. 

OBM Education

Funding round:  Undisclosed

Investors: Value Makers Studio

Founded: 2020, Egypt

Founders: Omar El-Barbary, Ezz El-Din Farag 

Products:  OBM Education provides college guidance and career readiness services for students and professionals in the MENA region.

What Next?: Fuelled by the funding and new partnership, the company is set to intensify efforts in reshaping student guidance and education technology in Egypt and the broader MENA region.

Munch Software

Funding round:  Undisclosed

Investors: Famous Brands

Founded:  2019, South Africa

Founders: Wynand Geldenhuys

Products:  Munch Software operates an innovative cloud-based Point of Sale (POS) software designed to digitize payment and inventory management systems for restaurants and retailers.

What Next?: Thanks to the new equity secured, Munch Software is set to scale up its operations across Africa 

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African Climate Mobility Youth Solutions 2023 (up to $5,000)

YouthADAPT Challenge 2023 For Africa’s Female Tech Innovators

 Imagine H2O Accelerator Program 2024

Meta’s Llama Impact Grants (Up to $500,000)

NITDA Nigeria Artificial Intelligence Research Scheme Fund for startups and researchers

Call For Applications: Because Accelerator 2024

ChangeMakers Seed Funding Contest 2024

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