Last week we recorded four funding deals in the African startup ecosystem. Kenya’s health-focused startup, Hewatele, secured $20 million to improve its medical oxygen production facilities. SunCulture, also raised $27 Million to further scale its IoT-enabled solar energy systems. The other two companies, Affinity Ghana and Inputi had undisclosed rounds.
Funding
Hewatele
Funding round: $20 Million
Investors: Finnfund, DFC, SEDF, UBS Optimus Foundation, and Grand Challenges Canada.
Founded: 2013, Kenya
Founders: Bernard Olayo
Products: Hewatele produces and delivers medical oxygen to patients across Kenya and East Africa
What Next?: Hewatele intends to use the funds to finance the development of a new liquid oxygen(LOX) manufacturing facility in Nairobi while doubling its existing capacity at hospital-based sites to produce and improve the distribution of medical oxygen.
Affinity Ghana
Funding round: Undisclosed
Investors: Renew Capital.
Founded: 2013, Ghana
Founders: Tarek Mouganie
Products: Affinity Ghana operates a full-scale digital bank offering a full suite of banking services, including current, savings and investment accounts, funds transfers, payments, and credit facilities in Africa.
What Next?: Fuelled by the funding, Affinity Ghana, is set to expand its fully integrated financial service platforms to better serve customers and expand its reach to new locations.
Inputi LTD
Funding round: Undisclosed
Investors: DFC
Founded: 2020, Uganda
Founders: David Lukwago
Products: Leveraging digital technology, the company operates a sophisticated warehousing system through which they provide access to authentic agro-inputs, agro-advisory services, Agri-finance, and post-harvest handling services.
What Next?: The funding will be invested into the company’s expansive growth and reinforce the company’s unwavering commitment to supporting farmers and driving agricultural innovation in Uganda.
SunCulture
Funding round: $27 Million
Investors: Reed Hastings, Eric Schmidt, Savant Group, InfraCo Africa Ltd. and Acumen Fund Inc
Founded: 2012, Kenya
Founders: Samir Ibrahim
Products: SunCulture designs IoT-enabled solar energy systems and irrigation equipment to provide its customers with easy access to water and irrigation.
What Next?: The funding provides the necessary backing for SunCulture to deepen its footprint within Kenya, providing improved solutions for Agri-producers in the country.
