Issue #77: Kentegra raises $15 million as LeaseSurance, SeekMake, and Smartprof also got substantial fundings

September 4, 2023

Several deals went under the radar last week as most startups and funders opted to stay private with the details of their rounds . Nevertheless, a few notable funding transactions were recorded during the week. The most remarkable funding went to Kentgra who secured $15 Million from Finnfund. In addition SeekMake and LeaseSurance also raised substantial amounts to improve their operations

Funding

Kentegra Biotechnology Holdings LLC

Funding round: Undisclosed ($15 Million)

Investors: Finnfund

Founded: 2017, Kenya

Founders: Scott Sweat, Adam Wood,

Products: Kentegra Biotechnology Holdings LLC is a leading producer of organic insecticide pyrethrum. The company produces refined pyrethrum extract which is an active ingredient derived from the Chrysanthemum flower. The products are intended for Home Biocide, agricultural and pharmaceutical pesticide markets.

What Next?: Fuelled by the funding, the company is set to revolutionize Kenya’s farming landscape by developing more effective products that are also environmentally friendly and affordable for African farmers.

SeekMake

Funding round: Series A ($539,000)

Investors: Lafayette Group, Flat6Labs

Founded: 2018, Tunisia

Founders: Adel Ayari, Zino Adidi

Product: SeekMake operates a digital manufacturing platform that facilitates the rapid and secure realization of ideas, projects, and prototypes. The startup mediates between industrial manufacturers and end users, streamlining the manufacturing process and accelerating part production within days

What Next: SeekMake intends to use the investment to fuel its expansion plans on an international scale. With the capital infusion, the company is setting its sights on new markets, particularly France and Germany.

HEDG

Funding round: Pre-seed (Undisclosed )

Investors: Undisclosed

Founded: 2022, Egypt

Founders: Ahmed Abdel Moaty

Product: Egypt-based fintech HEDG operates a savings management platform that provides pension plans for employees in the MENA region. The company’s solution is aimed at revolutionizing retirement planning for private workers

What Next?: Backed by the investment, HEDG is set to expand its presence in Egypt and enhance its B2B offerings. The company aims to redefine traditional retirement services through seamless digital experiences and tailored retirement plans.

SLE3TI

Funding round: Undisclosed

Investors: Cash Plus VC Fund

Founded: 2020, Morocco

Founders: Abderrahim Zizi, Ayoub HARIJ

Product: SLE3TI operates a B2B marketplace that facilitates the distribution of FMCG products intended for local retailers. The platform connects consumer goods suppliers and distributors to retailers in Morocco, streamlining the procurement process, optimizing inventory and strengthening links between key players in the supply chain.

What Next?: Buoyed by the newly acquired funding, SLE3TI plans to expand its presence and diversify its operations in the continuously evolving FMCG supply chain sector.

LeaseSurance

Funding round: Seed ($161,000)

Investors: Fedgroup Private Capital

Founded: 2020, South Africa

Founders: Paul Schaefer

Product: LeaseSurance operates a financial technology infrastructure designed to maximize assets in rental real estate by replacing security deposits with lease insurance. The platform provides a comprehensive B2B solution for rental real estate owners and operators, providing them with tools to bolster operating income and optimize portfolio performance.

What Next?: LeaseSurance intends to invest the newly acquired funding in efforts to expand its team and develop more advanced cutting-edge technology solutions for the real estate industry.

Smartprof

Funding round: Undisclosed

Investors: FUZE

Founded: 2020, Morocco

Founders: Hamza Faiz, Mustapha Faiz and Ali Faouzi

Product: SmartProf runs a digital educational platform with the aim of connecting proficient tutors with parents searching for effective tutors for their children. Primarily, the company runs an online tutoring marketplace.

What Next?: using the newly acquired funding, Smartprf intends to extend its reach in North Africa and expand its operations into West Africa.

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