Virridy, a company dedicated to enhancing natural resource management through technology, has raised $5.5 million in Series A funding to speed the development and deployment of its satellite-connected sensors for water, energy, and agricultural resource management. Existing investors FHI 360, Cleo Capital, Reverent Rock, Save Earth, and VertueLab also participated in the round, which was…
Bosch’s venture arm just unveiled its fifth fund, claiming it’s looking for firms that have the “potential to improve quality of life while conserving natural resources.” The new $295 million fund increases the stakes from Bosch VC’s previous fund by $53 million, but the German firm’s global focus on deep tech remains largely unchanged. That…
Talently, an edtech startup, has raised $3 million in seed funding from 500 Startups Latam, Alaya Capital, Salkantay Ventures, Newtype Ventures, Potencia Ventures, Latin Leap, and others. Talently is a firm that develops tech talent and links it with global organizations through an online job marketplace. Since the epidemic began, the company has grown 50…
Indicina, which is focused on developing API-driven credit infrastructure for Africa, raised $3 million in a Seed round to help the company maintain its commitment to the credit value chain. Greycroft and RV Ventures also participated in this round, which was led by Target Global. Ricardo Schaefer, a Partner at Target Global, will also be…
Rentoza, a South African subscription-based online electronics and appliance retailer, has raised ZAR20 million (US$1.3 million) in capital from Khulisani Ventures, the Mineworkers Investment Company’s early-stage investment firm (MIC). Last July, Johannesburg-based MIC announced the creation of MIC Khulisani Ventures, a ZAR150 million (US$10 million) early-stage investment entity aimed at black-owned, high-growth enterprises in South…
LAGOS, 1 June 2022 — ShopEX, a multi-channel retail business based in Nigeria and exclusive distributors of some of the world’s most successful ‘As Seen On TV’ products has raised a pre seed funding of $400,000 from Cape Town venture capital firm, HAVAÍC. The investment forms part of a US$635,000 convertible notes round alongside existing angel investors,…
HyperPay, a fintech business based in Saudi Arabia, has raised $36.7 million in a fundraising round led by Mastercard, with Amwal Capital Partners and AB Ventures as investors. HyperPay, founded by Muhannad Ebwini, provides a wide range of products and services to merchants in addition to payment processing, including risk and fraud management, monitoring, instalment…
Through its early-stage tech investment company Naspers Foundry, Naspers has led a $2.5 million investment in LifeCheq, a fintech platform that enables financial advisers to provide quality, complete financial advice. Since its debut in 2018, LifeCheq has provided financial planning and help to over 45,000 people in South Africa. LifeCheq’s AI-powered platform can help financial…
Talk360, an international calling app that allows users to make dependable and economical calls to any landline or mobile phone in the globe, has raised $4 million in preparation for the launch of a new pan-African payment platform in mid-2022. Leading African venture capital investor HAVAC, 4Di Capital, and numerous famous fintech angel investors led…
Shopstar, a local e-commerce platform, has received third-round funding from Launch Africa Ventures, indicating the start of the company’s next phase of expansion. The cloud-based e-commerce platform, which is proudly South African, assists local entrepreneurs in creating an online store and growing their business by providing easy-to-use, professional services that enable them to trade economically….
AfricInvest, a prominent investment platform engaging in private equity, venture capital, private credit, and listed equities, has announced the final close of its AfricInvest Fund IV, which raised $411 million in total commitments. AfricInvest has raised more than $2 billion to fund nearly 200 firms in various phases of development across three continents over the…
M Auto, a’mobility as a service’ startup, has raised an undisclosed amount of money from Africa Transformation and Industrialisation Fund (ATIF), an Africa-focused investment fund, to launch in Togo and Benin, making it Africa’s largest electric vehicle startup with 500 e-bikes on the ground and 3 000 ready for market. M Auto’s objective is to…
The USAID Trade Hub has co-invested $1.2 million in ShEquity to invest in and support over 100 high-potential women-owned or led businesses. According to Pauline Koelbl, Founder and Managing Director of ShEquity, women entrepreneurs are vital to Africa’s success because they control more than 40% of the continent’s small and medium-sized businesses. In comparison to…
Betastore, a Nigerian business, has received $2.5 million in pre-series funding. By the end of the year, the company hopes to expand to Ghana, the Democratic Republic of Congo, and Cameroon. 500 Global, VestedWorld, and Loyal VC contributed to the fund, bringing the total amount raised to $3 million. “We believe Betastore’s talented team is…
Ayoken, a non-traditional marketplace for creatives, has raised $1.4 million in pre-seed capital to help users diversify their revenue streams by selling digital artifacts. Ayokenlabs, the startup’s marketplace, will showcase digital collectibles from singers, sports brands, and influencers throughout the world. Joshua King, the founder and CEO of Ayoken, told TechCrunch that the marketplace serves…
Cloudfret, a Moroccan logistics and transportation business that connects loaders and carriers, has raised $1 million in capital to extend its operations in European and African markets. Plug and Play, PRC Ventures ICAV, Azur Innovation Fund, AfriMobility, and business angel Khalid Zitouni all contributed to the fundraising, which raised the company’s valuation to US$20 million….
Esaal, one of the region’s major technological platforms for online health and wellness consultations, has closed the final tranche of its $1.7 million Seed fundraising round headed by A15. This round takes the company’s total funding to $3 million since its inception in 2018. Esaal will use the funds to continue expanding across the MENA…
FoondaMate, a South African edTech company, has raised $2 million in a seed round headed by LocalGlobe, a UK-based venture capital firm, to grow its Whatsapp and Facebook-based learning chatbot abroad. Other investors included Emerge Education, FirstCheckAfrica‘s Odunayo Eweniyi, Future Africa’s Iyin Aboyeji, and LoftyInc, as well as Luno’s Marcus Swanepoel and Justworks’ Isaac Oates….
Sylndr, Egypt’s online used-car store, has raised $12.6 million in a pre-seed round headed by RAED Ventures, with participation from Algebra Ventures, Nuwa Capital, 1984 Ventures, Worldwide Founders Capital, and a number of well-known regional and worldwide angel investors. Sylndr wants to establish confidence in the used-car business by making it easy for clients to…
Doxx launches a digital platform in the Middle East and North Africa (MENA) region, connecting medical professionals and institutional healthcare providers such as pharmacies, labs, scans, and insurance companies to support the patient’s medical journey, increase accuracy, and improve service quality while lowering healthcare costs. The startup raised $1.5 million in a seed round headed…
Nile, a South African agri-tech firm that uses its platform to allow purchasers to buy directly from Africa’s top food producers, has raised a ZAR83 million (US$5.1 million) equity fundraising round headed by Naspers Foundry. Nile was founded in 2020 with the goal of providing farmers with digital solutions to address several pain points associated…
Victory Farms, a tilapia fish aquaculture firm with hatcheries, nursery ponds, and deep-water cages, has raised $5 million in new capital. Ed Brakeman, a senior managing director at Bain Capital, and Hans den Bieman, the founder and former CEO of Mowi, one of the world’s largest fish companies, led the investment. Following seven internal angel…
Bamba, a mobile-first business software for African micro-merchants, has raised $3.2 million in venture capital to help it scale its app and expand its team. Presight Ventures, Jigsaw VC, and high-profile angels Mato Peric, Leonard Stiegeler, Laurin Hainy, and Thomas Stafford all participated in the round, which was led by venture capital firm 468 Capital….
Instabug, an Egyptian software company that offers bug reporting, app performance monitoring, crash reporting, in-app chats, and user surveys for mobile apps, has raised $46 million in Series B funding led by global software investor Insight Partners, with participation from existing investor Accel and new investors Forgepoint Capital and Endeavor. The new funding will allow…
Zuri Health, a digital healthcare firm, has raised $1.3 million in seed capital to further develop its digital platform, expand its product offerings, and commence operations in additional areas across Africa. DOB Equity, Launch Africa, and Founders Factory Africa led the $1.3 million investment, which also included V8 Capital, Platform Capital, Villgro Africa, Asime Ventures,…
Edves is an Edtech with strong adoption and usage in Africa’s EdTech and digital infrastructure arena, with over 1,200 schools, 22K+ educators, 130K+ parents, and 250K+ students across six African countries. After raising $575,000 in a Seed round, the premier SaaS startup has grown to four African nations in the previous six months. Dimeji Falana…
Topship, a Nigerian digital freight company, has raised $2.5 million in seed capital. Flexport led the investment round, which included Y Combinator, Olive Tree Capital, Capital X, and True Capital as well as additional investors. According to the startup’s release, fresh funding would be critical in its expansion efforts. This comes just months after the…
Bridgecard, a Nigerian fintech firm, has acquired $440,000 in pre-seed capital to expand its user base and develop its platform. Bridgecard, which was co-founded by Owumi Festus and Tunde Adewole, combines a user’s cards, bank accounts, and fintech wallets into a single card and app, allowing users to conduct online transactions, pay bills, and withdraw…
The Alexandria Business Angels Network led an undisclosed bridge round for Egyptian company Teegara, a B2B e-commerce platform focused on household and FMCG products. Teegara is a B2B2C e-commerce marketplace founded in 2019 by Ahmad Kayyali and Nader Ibrahim with Ahmed Samir as the first investor. It seeks to help everyone trade, starting with small…
TopUp Mama, a Kenyan startup that connects African eateries with supplies, banking services, and business management tools, has raised US$1.7 million in venture capital to help it expand. TopUp Mama is a one-stop-shop for restaurants in Kenya and Nigeria that provides them with all of the essential supplies, short-term finance, and tools to manage their…