Issue #96: Apollo Agriculture raises $10m in a mix of debt and equity, DXwand secures $4m while Crealo obtains seed funding of $1.42m

Last week, the African startup ecosystem witnessed eight funding deals, with Apollo Agriculture’s $10 million debt and equity round being the most significant. Other notable fundraising deals include InspiraFarms raising EUR 1 million, DXwand with $4m, and Crealo with $1.42m. The other four companies also raised funds as discussed in details below. Funding Apollo Agriculture Funding round: Debt and Equity Funding ($10 Million) Investors : Swedfund , ImpactConnect Founded : 2015 Founders : Eli Pollak , Benjamin Njenga, Earl St Sauver Products : Apollo Agriculture creates digital solutions incorporating machine learning and automation to improve the operations and profitability of small-scale farmers. What Next? : Having built a network of around 7,000 sales agents and over 350,000 farmers as customers, Apollo aims to transform small-scale agriculture through a comprehensive approach encompassing distribution, advice, insurance, and financing. InspiraFarms Funding round: (EUR 1 Million) Investors : CEI Africa , KawiSafi , Factor[e] Founded : 2012, Kenya Founders : Julian Mitchell Products : InspiraFarms specializes in developing, manufacturing, and installing efficient precooling and cold chain technology designed for preserving fresh produce, flowers, and animal protein through their transfer within supply chains in Africa What Next? : InspiraFarms has already deployed hundreds of units across several countries. Fuelled by the funding, it plans to create and distribute even more units, thereby making cooling solutions more accessible, efficient, and sustainable for businesses of all sizes. Sawa Energy Funding round: Undisclosed Investors : Renew Capital Founded : 2021, Rwanda Founders : Samuel Kaufman , Guillaume Charpenel Products : Sawa Energy provides affordable energy efficiency solutions in East Africa by constructing, leasing, and operating solar systems for its clients. Its unique solution aims to eliminate financial and operational barriers to the adoption of solar power in the region. Thus it provides innovative options that allow individuals to access solar energy solutions without incurring hefty upfront costs. What Next? : Following the company’s goals of reshaping how businesses access power, it is set to utilize the funds to expand its services and reach across East Africa. DXwand Funding round: Series A ($ 4 million) Investors : Shorooq Partners , Algebra Ventures , Dubai Future District Fund Founded : 2018, Egypt Founders : Ahmed Mahmoud and Mahmoud Gomaa Products : The company operates an AI-driven software that automates text and voice conversations between customers and businesses across various channels, including call centers, Facebook Messenger, WhatsApp, SMS, and websites. What Next? : Fuelled by the newly acquired funds, DXwand is set to commence its expansion across MENA. Moreover, the investment will contribute to the acceleration of the startup’s research and development initiatives, particularly in the areas of generative AI, knowledge mining, and omnichannel conversational AI. Crealo Funding round: Seed ($1.42Million) Investors : 212Founders programme , Kima Ventures , Evolem , Super Capital , Founded : 2021, Egypt Founders : Mohammed Belghiti and Najlae Zeitouni Products : Creola develops copyright management solutions tailored to assist cultural and creative institutions to efficiently manage copyrighted material. What Next? : The capital infusion is expected to propel Crealo’s operations, enabling the company to enhance the quality of its product, forge strategic partnerships, and expand its workforce. Wanaut Funding round: $200,000 Investors : Augustulus Ventures Founded : 2019, Morocco Founders : Ayoub Koutar Products : Wanaut partners with leisure service providers to help them create comprehensive digital platforms for their operations. The platform typically includes various features such as a detailed dashboard, a user-friendly reservation management system, a customizable form creation module, as well as payment and billing tools. What Next? : Wanaut initiated the fundraising effort with the aim of injecting new energy into the leisure sector and establishing a complete ecosystem. With the secured funding, the company is expected to commence work on implementing its plans. Edura Funding round: Pre-seed Investors : Smart Zone Startups Studio Founded : 2021, Egypt Founders : Osama Abdelwahed Products : Edura operates a pioneering educational platform that facilitates a dynamic exchange between educators and learners. The platform facilitates knowledge exchange through a combination of live and recorded interactive lessons, coupled with innovative features such as online assessments and evaluation test modules. What Next? : Fuelled by the capital injection, the company is set to commence expanding its platform’s capabilities and strengthening its operational infrastructure to provide more reliable services to its users. ProXalys Funding round: $500,000 Investors : 216 Capi