The African startup funding landscape had an impressive run of events last week as 7 startups raised funding. Planet42 had the highest funding, raising $16m from Standard Bank. Following closely behind was Simera Sense securing almost $15m. The other startups recorded include ORA, 30MED, YouVerify, dKilo, and Dodai. Find the details of the deals below.
ORA Maroc
Funding round: Seed ($1.5 Million)
Investors: Undisclosed
Founded: 2023, Morocco
Founders: Omar Alami
Products: ORA operates a digital app that facilitates seamless ecommerce services for users. The app offers multiple features, including P2P transactions, an e-commerce platform, on-demand services, chat functionality, social networking, and a digital wallet.
What Next: The new funding will propel ORA’s plans to activate its e-wallet, Designed to enable users to transfer money instantly, thanks to a partnership with M2T.
30Med
Funding round: Pre-Seed (Undisclosed)
Founded: 2023, Egypt
Founders: Ayman Ragab
Products: The company operates a telehealth platform designed to bridge the gap between pharmaceutical companies and doctors by facilitating interactive conference events where pharmaceutical companies get to showcase new medicines and facilitate ongoing learning.
What Next: The company will channel the new funding to develop its platform further and expand its reach within the medical community.
YouVerify
Funding round: Pre-Series A ($2.5 Million)
Investors: Elm
Founded: 2018, Nigeria
Founders: Gbenga Odegbami, Famous Prior Ehichioya
Products: Youverify provides software solutions that help African banks and startups automate their KYC and other compliance procedures. They also enable the companies to combine KYC and compliance products like transaction monitoring to address issues like anti-money laundering (AML) and fraud.
What Next?: Fuelled by the new funding, Youverify will focus on streamlining AML compliance for businesses, bolster global risk intelligence, and expand its products into new markets.
dKilo
Funding round: Seed ($3.2 Million)
Investors: Upturn Ventures
Founded: 2020, Egypt
Founders: Mohamed Mousa, Sherif Abdelaty
Products: dKilo operates in the AdTech space offering street-level out-of-home advertising solutions incorporating vehicles, the Internet of Things, and AI
What Next: The investment will assist the company in revolutionizing its advertising systems and channels by incorporating new innovative approaches.
Simera Sense
Funding round: $14.7Million
Investors: NewSpace Capital and Knife Capital
Founded: 2018, South Africa
Founders: Johann Du Toit
Products: Simera Sense designs optical payloads and high-resolution cameras ready for use by clients across the global small satellite industry.
What Next: The company will utilize the funding to develop its product range further, while also increasing its production capacity, and accelerating on-board processing capabilities.
Planet42
Funding round: Debt & Equity ($16Million)
Investors: Standard Bank
Founded: 2017, South Africa
Founders: Eerik Oja and Marten Orgna
Products: A car subscription company offering financial solutions to help individuals own vehicles in South Africa. The company partners with dealerships across the country to offer access to a personal car to its largely underbanked clientele.
What Next: The investment will enable the company to expand its reach and offering to serve more customers and combat transport inequality in South Africa.
Dodai
Funding round: Series A ($4 Million)
Investors: Nissay Capital, Musashi Seimitsu, Inclusion Japan (ICJ)
Founded: 2021, Ethiopia
Founders: Yuma Sasaki
Products: Dodai assembles and sells electric bikes in Addis Ababa. The company provides cost-effective scooters designed for gig workers and commuters in Africa, enabling customers to rent scooters on a short-term basis making it a more convenient and affordable option for transportation.What Next: The funding is expected to help Dodai accelerate its growth and expand its product offerings across the continent.
