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

Issue #103: Simera Sense raises $14.7m, Planet42 gets $16m from Standard Bank, Dodai secures $4m, and 3 others also obtained significant funding.

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.


Funding round: Pre-Seed (Undisclosed)

Investors:  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.


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.


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

FoundersJohann 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.


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.


Funding round: Series A ($4 Million)

Investors: Nissay Capital, Musashi SeimitsuInclusion 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.

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