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.
Funding
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.
Zeepay
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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Opportunities
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
