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

Issue #94: Huge Start to the new year as 10 startups secure funding within the first two weeks of January.

What a way to start the new year! Only two weeks into 2024 and we have already witnessed several interesting startup funding deals in the African Ecosystem. While the details of many of these investments aren’t public information yet, it’s interesting to know that we are off to a great start in the African startup funding ecosystem for this year. Here are the deals from last week.


Octavia Carbon

Funding round: Undisclosed

InvestorsRenew Capita

Founded:  2022, Kenya

Founders: Martin Freimüller

Products: Octavia Carbon builds and deploys Direct Air Carbon Capture (DACC) machines with the goal of harnessing natural resources to permanently remove CO2 from the atmosphere

What Next? : The company aims to utilize the newly secured funding to advance its Direct Air Capture (DAC) technology, with a primary focus on improving carbon dioxide (CO2) extraction from the atmosphere.

Dawa Mkononi

Funding round: Seed (Undisclosed)

Investors: Sanofi Global Health Unit Impact Fund, Pontem Ventures, Warioba Ventures, Villgro Africa, Axian Group

Founded: 2020, Tanzania

Founders: Joseph Paul, Asat AyoClemence Exaudi

Products: Dawa Mkononi provides an easy platform for medical shops to conveniently purchase medicine and medical equipment.  Customers get to access a variety of medicines and medical equipment via a Mobile application which is available on both iOS and Android.

What Next? : The funds raised will propel Dawa Mkononi’s expansion, aiding the startup to reach more locations and unlock access to medicines in the most remote African communities.


Funding round:  Undisclosed

Investors: Axian Group

Founded:  2017, Egypt

Founders: Mohamed Ezzat, Ahmed Gaber

Products: Bosta operates a digital infrastructure designed to optimize first, middle, and last-mile delivery for users. Bosta’s delivery solution uses a network of independent drivers and a fleet of leased vans.

What Next? : Fuelled by the funding, Bosta is set to further expand and consolidate its delivery services to include more solutions and also serve more locations.

Badili Africa

Funding round:  Seed

Investors: E3 Capital’s Low-Carbon Economy Fund

Founded:  2021, Kenya

Founders: Rishabh Lawania

Products: Badili Africa operates an innovative pre-loved and refurbished gadgets retail outlet, enabling individuals to sell and buy quality devices at a fraction of the price of new models,

What Next?: The financial infusion will enhance Badili’s operational efficiency and facilitate its expansion into new markets beyond East Africa.


Funding round:  Undisclosed

Investors: Renew Capital 

Founded:  2020, Uganda

Founders: Mike Schwartz.

Products: Opareta runs a digital operating system designed to facilitate cash reconciliation, float approvals and disbursements, and effective loan management. Opareta’s platform provides a suite of services, including performance analytics, field team management, KYC capture, and CRM services, ensuring enhanced efficiency and customer engagement.

What Next? : Fuelled by the funding, the startup is working on creating robust digital infrastructure and tools to significantly enhance the operational efficiency of mobile money operators and other digital financial services providers.


Funding round:  $2 Million

Investors: Undisclosed

Founded: 2024, Egypt

Founders: Abdelrahman Elgamal

Products: FriendyM operates an innovative car management and maintenance application designed to assist vehicle owners by sending regular maintenance reminders, tracking necessary operations, and calculating average maintenance costs based on registered car data. 

What Next? : The startup just launched and it’s set to pioneer car management and maintenance through its digital application

Zebra CropBank

Funding round:  Undisclosed

Investors: Catalyst Fund

Founded: Nigeria


Products: Zebra CropBank develops and leases out solar-powered micro-warehouses in farming communities. These facilities empower smallholder farmers to efficiently store and insure their harvests. The company also operates a USSD platform for storage tracking, ensuring the transparent storage and trading of produce

What Next? : The investment will fuel Zebra CropBank’s operations and expansion, assisting the company to deploy solar-powered micro-warehouses in new locations and also enhance its integrated trading platforms.


Funding round:  $1.5Million

Investors: 1984 Ventures, The Raba Partnership, Byld Ventures, FirstCheck Africa, Y Combinator

Founded: 2023, Nigeria

Founders: Tolu Alabi, Philip Abel

Products: Cleva operates a cross-border fintech platform that provides banking as a service for Africans. The platform enables Africans to open and own USD accounts with which they can receive international payments.

What Next? : Cleva is building a platform that will assist Africans in overcoming the effects of local currency devaluation, inflation, and the challenge of trading USD with global partners. Fuelled by the funding, Cleva is set to continue improving on its solutions to attain its goals.

ZeroComplex AI

Funding round:  Pre-seed (Undisclosed)

Investors: Undisclosed

Founded: 2023, Nigeria

FoundersKehinde Olateru, Adegbenga Agoro

Products: ZeroComplex provides AI API infrastructure for businesses that simplifies the AI integration process for their operations through its tailored AI workflows

What Next? : Fuelled by the financial backing, the company is set to advance its mission of facilitating the seamless integration of AI into digital infrastructures across the African continent.


Funding round:   $3 Million

Investors: Investisseurs & Partenaires, AAIC, FINCA Ventures and Beyond Capital.

Founded: 2018, Cote D’Ivoire

Founders: Louis Gascoin

Products: Lapaire operates a one-stop shop for consumers to find eyeglasses and eyewear accessories. Individuals get access to a range of stylish quality eyeglasses at fair prices with Lapaire.

What Next? : The funds secured will be used to expand Lapaire’s operations across current and new African markets.


Call for applications for pitchers at BLUEINVEST AFRICA 2024, Kenya

Call For Applications to Spark Accelerator for StartUps

Call For Applications: CcHub, Bill & Melinda Gates Foundation Million-Dollars Initiative For Edo State’s Digital Startup

Call For Applications: Gener8tor Milwaukee Accelerator

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