Last week saw a number of interesting funding activities in the African startup ecosystem. Egyptian startup Almouneer, secured Seed funding of $3.6 Million, Ora Tech raised $1 Million, and StarNews Mobile also secured $3 Million in a Pre-Series A round featuring investments from Football stars.
Funding
Ora Technologies
Funding round: Pre-Seed ($1 Million)
Investors: Undisclosed
Founded: 2023, Morocco
Founders: Omar Alami
Products: Ora operates a super app that offers multiple services to users through the numerous features available on it. Users can conduct a number of financial activities on the app. The app’s functionalities include P2P transactions, cross-border payments, on-demand services, chat functionality, and social networking.
What Next?: The company is currently working on a digital wallet to be launched soon. The funding raised will be invested into quickening the app’s development and expanding Ora’s operations across MENA.
Almouneer
Funding round: Seed ($3.6 Million)
Investors: Global Ventures, Proparco, Digital Africa, Wrightwood Investments
Founded: 2017, Egypt
Founders: Noha Khater, Rania Kadry
Products: Almouneer operates a digital transformation platform designed to assist patients with chronic diseases. The platform provides digitally-enabled lifestyle and disease management solutions for users
What Next? : Almouneer is set to channel the new fund into further developing DRU – its patient-centric platform – to provide better and more effective treatment options for pre-diabetes, diabetes, and obesity.
StarNews Mobile
Funding round: Pres-Series A ($3 Million)
Investors: Janngo Capital, Aurélien Tchouaméni, Jules Koundé, Mike Maignan
Founded: 2017,
Founders: Guy (Kouam) Kamgaing
Products: StarNews Mobile provides monetization avenues for African content creators through distribution partnerships with major telecommunications operators. It operates a platform that connects content creators to mobile users.
What Next?: According to the CEO Guy Kamgaing, StarNews plans to use the funding to enhance its presence and operations in Francophone Africa as well as expand into strategic markets like Ghana and Nigeria.
My Easy Transfer
Funding round: ($423,000)
Investors: 216 Capital.
Founded: 2022, Tunisia
Founders: Ismaïl Khenissi, Jabrane Khenissi
Products: My Easy Transfer operates a fintech platform that facilitates cross-border transactions to and from Tunisia. The platform is designed to simplify money transfer services from the Tunisian diaspora to their families inside the country.
What Next?: Fuelled by the funding, the company is set to redesign its platform into a superapp and strengthen its presence in Tunisia and other African markets.
Inclusivity Solutions
Funding round: ($1.5 Million)
Investors: Goodwell Investments
Founded: 2015, South Africa
Founders: Indira Gopalakrishna, Jeremy Leach
Products: Inclusivity Solutions employs technology and strategic partnerships to make affordable insurance accessible to consumers. The company develops innovative digital insurance products for consumers in emerging markets.
What Next?: With this fresh injection of capital, Inclusivity Solutions is set to expand its partner network further to meet the needs of more individuals and small businesses across Africa.
Awfar
Funding round: Undisclosed
Investors: Value Maker Studio
Founded: 2020, Egypt
Founders: Abd elrahman Galal, Mohamed Mansour, Louay Alouba
Products: Awfar offers a fully integrated technology dashboard giving retail businesses access to cloud-based solutions, including, point of sale (POS) systems, commercial and operational reporting, and delivery management solutions. The system also gives users access to integrated retail aggregators, third-party logistics providers, and marketing channels.
What Next?: Fuelled by the funding, Awfar will intensify its efforts in empowering aspiring entrepreneurs with the necessary digital resources to scale their operations.
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