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442 stories in the archive · page 5 of 22

Ecosystem Insider

Issue #114: Moroccan Logistic Startup Yola Fresh Raises $7m Pre-Series A Fund

Last week was somewhat unremarkable in the African startup funding scenes. Only one funding deal involving Moroccan startup, Yola Fresh made the news, reflecting the recent state of the market as investment activities have become significantly slower in the past few weeks. Funding Yola Fresh Funding round: Pre-Series A ($7 Million) Investors: Algebra Ventures, E3 […]

AU-Startups·6/4/2024

Ecosystem Insider

Issue #113: M-Kopa secures $51 M debt, OneOrder raises $16m, while EV companies Basigo, Roam, and Mogo each obtained $10m debt funding

Several African startup companies obtained loans and varying forms of debt funding last week. Kenyan fintech giant, M-Kopa secured a $51 million debt funding from DFC, similarly, each of Basigo, Roam, and Mogo received $10 million debt facilities, also from DFC. Elsewhere, OneOrder raised $16 million in a mix of debt and equity, while early-stage […]

AU-Startups·5/28/2024

Industry Insights

Celebrating Africa Day 2024 – How African EdTech Solutions are Shaping Education for the 21st Century

The annual Africa Day, Celebrated on the 25th of May every year, was set aside to commemorate the founding of the African Union, otherwise known as the Organization of African Unity (OAU) in 1963. The day marks a pivotal moment in Africa’s history and is symbolic of the desire for unity, peace, and a collaborative […]

AU-Startups·5/25/2024

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Ecosystem Insider

Issue #131: Zeno raises $9.4m, Userguest secure $2.4m while Kofa obtains $5m

For the second week in a row, there were more than five funding activities in the African ecosystem. Two off-grid solar system distributors, Yellow, and RDG Collective secured financing from Acumen’s Hardest-to-Reach initiative. EV manufacturer, Zeno, also secured a $9.4 million seed fund, and Userguest raised $2.4 million. In West Africa, Ghanaian startup Kofa raised […]

AU-Startups·10/1/2024

Ecosystem Insider

Issue #130: LabLabee raises $3.4m, Settle Payments obtains $2m while five other companies also raised significant funding

Last week was a busy one for several investors and startups in the African ecosystems. No less than seven funding rounds were recorded as Edtech company, LabLabee led the way with a seed round of $3.4m. Egyptian fintech, Settle Payments, secured a Pre-seed funding of $2m, South Africa’s Happy Pay also obtained $1.8m, while Nigerian […]

AU-Startups·9/24/2024

Ecosystem Insider

Issue #129: Paymob raised $22M, Talk360 secured $1.4M, while Field Intelligence gets $11M support from the Bill and Melinda Gates Foundation

This week’s African startup ecosystem news features funding announcements from three startup companies. Egyptian payment solutions provider, Paymob, raised $22 million in its Series B extension round. South African communications solutions provider, Talk360, secured $1.4 million in pre-series A funding. Elsewhere, Nigerian pharmaceutical supply chain company, Field Intelligence, secures an $11 million grant from the […]

AU-Startups·9/17/2024

Ecosystem Insider

Issue #128: Fido raises $30m debt and equity series B fund, Rubyx secures $526k loan from Proparco while Brotinni and Kasha raised undisclosed funding.

This week, four companies received funding in equity and loans. Two of the companies, Egyptian mobile food services, Brotinni, and Rwandan Lending-as-a-Service Provider, Kasha had undisclosed equity funding rounds. Elsewhere, Rubyx from Senegal secured a loan from Proparco to expand its services across Africa while Fido raised an equity funding of $20m to go with […]

AU-Startups·9/10/2024

Ecosystem Insider

Issue #127: Sukhiba Secures Additional $1.5M Seed Funding, Ampersand Raises $2M, While Arise Invests $7.5M in South-African Omnisient

Last week’s funding activities in the African ecosystem featured three companies securing equity and four obtaining grants from ANDE and IKEA. Sukhiba raised a $1.5 Million seed extension, bringing its total seed funding to $3 Million. Similarly, the logistics and EV start-up Ampersand also secured $2 Million, while Arise invested $7.5 Million in Omnisient. Funding […]

AU-Startups·9/3/2024

Artificial Intelligence

Summarising Nigeria’s National AI Strategy: A Blueprint for Innovation and Inclusion

In a landmark move, Nigeria has unveiled its National Artificial Intelligence Strategy (NAIS) for 2024–2028, signaling its ambition to lead Africa into the era of AI-driven innovation. This comprehensive strategy aims to harness artificial intelligence as a transformative tool for socio-economic development, technological leadership, and global competitiveness. With its youthful population, vibrant startup ecosystem, and […]

AU-Startups·8/31/2024

Ecosystem Insider

Issue #126: FIDO Secures $10m Series B Fund, Workpay Obtains $5m, While KBW Ventures Makes its Debut Investment in NoorNation

Three funding activities were announced last week, one involved credit service company, FIDO, secured $10 million in series B funding from FMO to develop its loan book in Ghana and Uganda. Elsewhere, HR and payroll management service provider, Workpay also raised $5 million in a series A funding round that involved several investors, while Prince […]

AU-Startups·8/27/2024

Ecosystem Insider

Issue #125: Fintech company, Waza Raises $8m and Open Access Energy secures $750k while others had undisclosed funding rounds

We recorded four funding activities last week involving Waza, Open Access, Energy, Wattnow, and Kredete. Waza secured $8 million from Lateral Frontiers VC, and Open Access Energy also obtained $750k in the 1st tranche of its $1.5m seed fund from Factor[e] Ventures. Elsewhere, Wattnow and Kredete wrapped up funding rounds but the details were not […]

AU-Startups·8/20/2024

Ecosystem Insider

Issue #124: Egyptian Lucky One Secures $3million, as Qardy Raises Pre-Seed Funding

For the second week in a row, Egyptian startups grab the headlines in the African startup funding ecosystem. This time, they went two for two as both funding rounds recorded during the week involved Egyptian startups. Lucky One, a fintech company raised $3 Million and Qardy obtained an undisclosed amount for its pre-seed funding round. […]

AU-Startups·8/13/2024

Ecosystem Insider

Issue #123: Egyptian Startups Dominate as Cartona Raises $8.1m, Educatly Obtains $2.5m, and Synapse Analytics Secures $2m Funding.

Egyptian startups won big in the African funding scenes last week, taking four of the six announced rounds. B2B e-commerce company, Cartona had the largest funding, obtaining $8.1 million in a mix of debt and equity. Edtech, Educatly also secured $2.5 million, Synapse Analytics raised $2 Million, while Kemitt didn’t disclose the details of their […]

AU-Startups·8/6/2024

Ecosystem Insider

Issue #122: Intron Health Raises $1.6 Million Pre-Seed Funding, One Acre Fund Secures $1.4 Million to Improve Agritech Solution

Last week, we recorded three funding deals across the African startup ecosystem. Nigerian AI startup, Intron Health raised $1.6 Million in pre-seed funding. Additionally, social enterprise, One Acre Fund secured $1.4 Million to improve its farmer support program, while Plentify also received an investment from multiple investors. Funding Intron Health Funding round: Pre-Seed ($1.6 Million) […]

AU-Startups·7/30/2024

Ecosystem Insider

Issue #121: MNT-Halan raises $157.5m for expansion, d.light secures $176m securitization fund and other funding news

We recorded several remarkable funding deals last week. The headline deal was d.light’s $176 million securitization funding led by African Frontier Capital. It was followed closely by MNT-Halan’s $157.5 Million expansion funding which featured numerous investors. In total, there were seven funding announcements including Dopay’s $13.5m and Terrapay’s $95m debt financing. Bio-Logical also obtained $1.3m […]

AU-Startups·7/23/2024

Ecosystem Insider

Issue #120: Nala raises $40 million, Uncover secures $1.4 million, and more

We recorded four deal activities in the African startup ecosystem last week, the most impressive of which was Nala’s $40 million Series A round. This deal will fuel the company’s global growth and expansion plans. Skincare ecommerce company, Uncover, also raised $1.4 million, along with other deals involving Turnstay and BasiGo. Funding Uncover Funding round: […]

AU-Startups·7/16/2024

Ecosystem Insider

Issue #119: South African Pumpkn gets backed by Renew Capital, Farm to Feed also secures funding while EdVentures invests $400k in El Kheta

We noted three funding activities in the African startup ecosystem last week, two of which their details were not disclosed to the public. Only Egyptian Edtech, El Kheta, announced the details of its $400,000 investment provided by Edventures. Elsewhere, Nigerian customer ID management solution provider, Prembly, has joined forces with Kenyan Peleza to form Prembly […]

AU-Startups·7/10/2024

Ecosystem Insider

Issue #118: Connect Money secures $8m, Cadana raises $7.1m while logistics startup Noki Noki obtains $3m seed fund

It was all seed rounds last week in the African startup funding scenes as three companies each raised seed funding from multiple investors. Egyptian fintech, Connect Money raised $8 million to expand its operations. Payroll solutions provider, Cadana, also secured $7.1 million funding, while Noki Noki raised $3 million for its logistics operations. Elsewhere, investment […]

AU-Startups·7/3/2024

Ecosystem Insider

Issue #117: Biotech Immobazyme secures $1.3m, LAfricaMobile obtains $4.6m, while Nigerian fintech Regxta wins top prize at Pitch2Win competition

This week’s Ecosystem Insider issue features different interesting funding activities. South African biotechnology startup Immobazyme secured $1.3 million through the help of UTF. Telecommunications company, LAfricaMobile also raised $4.6 million from multiple VCs and angel investors. Elsewhere, Nigerian fintech, Regxta emerged as the winner of the $10k prize money at Tech Circle’s pitch2win competition. Funding […]

AU-Startups·6/26/2024

Ecosystem Insider

Issue #116: Egyptian startups win big as Sahl secures $6 million, i’Supply raises $2.4million and TPP also secured funding to scale its solutions

Egyptian startups dominated the African funding scenes last week. Three of the four announced funding deals involved companies operating in Egypt. Sahl, a payment solutions provider had the biggest haul, securing $6 million in a combined seed and Series A funding round. Pharma supply chain startup, i’Supply also secured $2.5 million, while media startup, The […]

AU-Startups·6/18/2024

Ecosystem Insider

Issue #115: Fintech Startup, Elevate Secures $5m Pre-Series A Fund For Expansion

We had another rather unremarkable week in the African Startup funding scenes. Elevate had a pre-series A funding, securing $5 million from investors led by Negma Ventures. Elsewhere, Selcom Tanzania completed the acquisition of Access Microfinance to reshape financial services delivery and customers experience in Africa. Funding Elevate Funding round: Pre-Series A ($5 Million) Investors: […]

AU-Startups·6/11/2024