Carry1st, an African mobile games publisher, has recently received a $27 million pre-Series B investment to help it grow its business and create more games. Bitkraft Ventures led the round, with backing from Andreessen Horowitz, TTV Capital, Alumni Ventures, Lateral Capital, Kepple Ventures, and Konvoy. Carry1st was founded in Cape Town, South Africa, in 2018…
Cathedis, a logistics startup based in Morocco that specializes in delivery and e-logistics, has announced the completion of its pre-series. Afrimobility raised $5 million, AKWA Group provided venture capital, and CDG Invest provided a bridge loan of $2 million, for a total of $735,940. Cathedis’ platform, founded by Imad Mansour Zekri, provides cloud-based warehousing and…
A $2 million investment into 10 entrepreneurs creating solutions to increase the resilience of climate-vulnerable populations in Africa has been announced by pre-seed venture capital (VC) fund and accelerator Catalyst Fund. Pre-seed venture capital fund and accelerator Catalyst Fund supports high-impact tech firms looking to strengthen the resilience of underprivileged, climate-vulnerable populations. It collaborates with…
Releaf, a digital firm that makes it simpler for African producers of consumer goods to get access to high-quality materials for their facilities, has raised $3.3 million in a Pre-Series A funding round that was oversubscribed. Samurai Incubate Africa, which had previously led Releaf’s seed round, served as the round’s lead investor and was joined…
The Emirates International Investment Company (EIIC) has provided funding to Egypt’s Mahaseel Masr, a regional B2B fresh produce digital platform, to accelerate the deployment of its agri-focused e-commerce platform. Mahaseel Masr is a smart digital platform that offers a variety of digital tools to make online transactions more reliable and secure, while also ensuring farm…
The majority of Solarise Africa’s operations are in Kenya, and the company has secured $3 million from EDFI ElectriFI to develop there. Solarise Africa is an all-African provider of energy as a service with clever financing alternatives. Solarise Africa, which has operations in Kenya, South Africa, Uganda, and Rwanda, engages closely with partners to offer…
In the MENA region’s hotels, restaurants, and catering (HORECA) industries, Suplyd, an Egypt-based startup, digitizes supply chain operations. It has received $1.6 million in pre-seed funding from Endure Capital, Seedstars, Camel Ventures, Falak Startups, as well as other local and regional investors. The company will be able to grow the staff, make additional investments in…
A Pan-African early-stage venture capital firm called Ventures Platform closed its fund at $46 million with the intention of investing even more in “category-leading” businesses all over the continent. The 11-person company, which is six years old and has gone public to seek $40 million for this fund, had an undisclosed first closure in December….
MyHealth Africa, a Kenya-based healthtech startup, has raised $1 million in seed funding to expand its presence in Africa. The round was led by GIIG Africa Fund, with participation from Samurai Incubate, a family office, and existing investors. The funding comes after the startup was named the Top HealthTech Startup in Africa by the Global…
Owoafara, a Nigerian fintech startup that provides digital banking to help the world’s unbanked population gain access to financial products and services, has received funding from gender lens investment firm ShEquity. Owoafara, founded by Tale Alimi, provides financial solutions such as payments, credits, savings, health insurance, and pensions on a single platform. Member businesses are…
Zeraki, a Kenyan educational technology platform that provides digital learning and school data analytics, has raised $1.8 million in early funding to support regional expansion and product catalog growth. The round was co-founded by Melvyn Lubega, co-founder of the Australian edtech unicorn Go1, and was led by Acumen Fund with participation from Save the Children…
The second closing of the new $25 million fund managed by South African seed capital firm 4Di Capital has recently been finished. In order to form the fund with DotExe Ventures, the Mauritian conglomerate IBL Group provided an undisclosed sum through its investment vehicle, IBL Link Investments. A group of business owners established the venture…
Africa’s beauty and personal care market is expanding rapidly as a result of its growing young and fashion-conscious population, rising purchasing power, and urbanization. The market’s potential has attracted major brands in recent years, with Fenty Beauty by Rihanna and LVMH being the most recent entrants. Niche local brands are also arising to provide customized…
Orda, a Nigerian company that develops cloud operating systems for restaurants, has raised US$3.4 million in a seed round to further digitalize the food industry on the continent. Guy Futi, Fikayo Akinwale, Mark Edomwande, Kunle Ogungbamila, and Namir El-Khouri founded Orda in 2020 with the goal of assisting small-scale African restaurants in growing sustainably. After…
An early-stage venture capital business called LoftyInc Capital Management has announced the final close of its LoftyInc Afropreneurs Fund 3 (LAF3), which closed out at US$14.3 million. The fund was oversubscribed. As a venture capital company with its headquarters in Lagos, LoftyInc Capital Management aims to invest in industries such logistics, printing services, business services,…
Djamo, a fintech firm in Francophone Africa building a personal finance business, has acquired $14 million in equity funding to continue building out a comprehensive range of financial services and to expand into new nations. The fundraising round was co-led by Partech Africa, Oikocredit, and Enza Capital. Other current investors included Janngo Capital, P1 Ventures,…
Solarise Africa, a pan-African Energy-as-a-Service provider, has received a $33.4 million facility from Lion’s Head managed fund, the Facility for Energy Inclusion (FEI), to help the company solidify its position in Kenya’s solar market and expand across Africa. FEI will contribute USD 21.4 million toward the total amount, with Oikocredit contributing USD 7 million and…
Leta, a Kenyan startup, has raised $3 million in order to expand across West Africa in 2023. Leta is a B2B supply chain and logistics SaaS company that was established in 2021 to improve fleet management. Leta is searching for growth prospects in West Africa while also increasing its business in its current five markets,…
A Kenyan business called Stable Foods has raised US$600,000 to create a method for producing smallholder food that is climate-smart. Participating in the fundraising round were Mercy Corps Ventures and the Acumen Resilient Agriculture Fund (ARAF). Agrifood-tech venture studio Pyramidia Ventures’ portfolio company Stable Foods has developed an all-in-one system that combines regenerative agriculture training,…
With participation from Nir Eyal and creators of top businesses like Razorpay, Pine Labs, Snapdeal, Livspace, and others, Betafi, a unified user research platform, has acquired $1.3 million in pre-seed capital from Together Fund, Entrepreneur First, and Titan Capital. Nir Eyal, best-selling author of the book “Hooked” and a well-known thought leader worldwide, said, “I’m…
Goodwell Investments, a social impact investment company, has established its EUR150 million (US$154 million) uMunthu II fund with the goal of fostering the expansion of inclusive enterprises in the area. Goodwell Investments is an impact investment company that focuses on inclusive growth in industries that offer underprivileged populations in Africa and India access to basic…
In order to build its full-stack tech platform, grow its staff, and spur expansion across the Egyptian market, Cairo-based startup Grinta, a fintech-enabled B2B tech platform digitizing the pharmaceutical supply chain, has acquired US$8 million in a preliminary fundraising round. Grinta, a controlled marketplace founded in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and…
Smartprof, an online marketplace for children of school age that is based in Morocco and uses edtech, has received a pre-Seed investment round of $110,000 from Plug and Play, UM6P Ventures, and a few angel investors, in addition to the $50,000 raised earlier in July. It has the support of numerous organizations, including Startgate, the…
DeveloPPP Ventures, a startup program sponsored by the German government, has announced a grant of €100,000 for startups in Kenya and Tanzania to help them grow their impact-driven businesses. A project of the German Federal Ministry for Economic Cooperation and Development (BMZ), develoPPP Ventures is carried out by DEG Impulse and sponsored by Seedstars, a…
In order to launch the commercial delivery of locally produced electric buses and charging infrastructure, the Kenyan firm BasiGo has acquired US$6.6 million in new seed funding. In November of last year, Disrupt Africa announced that BasiGo had begun operations in Nairobi after securing KES100 million (US$900,000) in finance earlier in the year. The firm…
A $225 million venture financing platform has been developed by the International Finance Corporation (IFC) to support early-stage businesses in Africa, the Middle East, Central Asia, and Pakistan. In order to “develop them into scalable companies that can attract mainstream equity and debt finance,” the IFC, a member of the World Bank, will invest in…
The Plug & Play, iCubed Capital, WZ Capital, and the Jozi Angels Network participated in the pre-seed round of funding for the South African telehealth platform Contro. The Bill & Melinda Gates Foundation also provided grant funding from the i3 fund. Contro was founded in June 2021 and presently provides six services, including once-off STI,…
Eden Care, a Rwandan insurtech firm that provides businesses and their employees with inexpensive, individualized, and accessible health coverage, has acquired pre-seed capital to support its growth across East Africa. The two biggest reinsurers in Africa, Zep Re and Africa Re, support Eden Care, a licensed provider of digital health insurance. The start-up gives companies…
A US$600,000 pre-seed fundraising round has been completed by Nigerian startup CutStruct Technology to help with the growth and scalability of its B2B construction procurement application LiveVend. CutStruct, a company founded by John Oamen and Tayo Odunsi, has created LiveVend, a platform for construction procurement that enables buyers like contractors and real estate developers to…
With the aid of Buffet Investments, KLT, and the Shoprite Group as the lead investors, Omnisient, a provider of consumer privacy-protecting data collaboration platforms in emerging markets, has raised a $3.5 million round of expansion financing. The expansion round was oversubscribed, and more investors joined original investors Investec and Nedbank, as well as follow-on investors…