Startup Accelerator Y Combinator Reveals 20 New Startup Ideas for Summer 2024

Startup Accelerator Y Combinator Reveals 20 New Startup Ideas for Summer 2024

Applications of artificial intelligence, climate technology, and spatial computing are among the latest projects that Y Combinator is looking to support. The list was released on Wednesday. In the most recent iteration of its RFS, or “Request for Startups,” tradition, which dates back to 2009, the organization made a call for the kinds of startups…

5 African companies are selected for a global social impact program.
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5 African companies are selected for a global social impact program.

10 businesses—five of them from Africa—have been chosen to participate in Startup Boost, an international initiative for social impact entrepreneurs managed by the tech consulting firm tretton37, based in Sweden. Tech consultancy firm tretton37 works with Telia, Klarna, Paradox Interactive, Tibber, and ICA, among others. Launched in late 2023, Startup Boost provides free assistance to…

How African Growth-stage Startups Fared in 2023 and What 2024 Holds

How African Growth-stage Startups Fared in 2023 and What 2024 Holds

It was a challenging year for tech entrepreneurs in Africa. As previously projected, obtaining venture funding proved to be challenging; bridge and down rounds were commonplace; and rumors of fire sales, layoffs, and business closures spread over the continent. Startups and scale-ups in Africa have experienced far-reaching implications as a result of the overall amount…

12 Startups Qualifies for the 2nd Cohort of ARM Labs Lagos Techstars Accelerator

12 Startups Qualifies for the 2nd Cohort of ARM Labs Lagos Techstars Accelerator

The ARM Labs Lagos Techstars Accelerator, which offers access to up to US$120,000 in equity capital and other forms of support, has picked twelve entrepreneurs for its second round. The three-month-long ARM Labs Lagos Techstars Accelerator was established by Techstars, a global investment firm that offers early-stage entrepreneurs access to capital, one-on-one mentorship, and customized…

During the “funding winter,” 10 African startups closed, and some are still fighting
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During the “funding winter,” 10 African startups closed, and some are still fighting

Though there were initially expectations that the nascency of the African tech ecosystem may mean it spared too much damage, the expanding extent of the continent’s “startup graveyard” implies that is not the case. Venture capital financing has fallen dramatically globally in 2023. According to PitchBook data, venture capital funding nearly halved globally in the…

8 Startups Joins the Latest Cohort of Grindstone Africa Accelerator Programme
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8 Startups Joins the Latest Cohort of Grindstone Africa Accelerator Programme

The most recent iteration of Grindstone Africa, a well-known accelerator program that fosters high-growth entrepreneurship worldwide, has chosen seven South African and one Lesotho firm for inclusion. Founded in 2013, Grindstone is a well-known company that helps high-growth, innovative firms thrive. Knife Capital and Thinkroom Limited co-own the company. The most recent iteration is the…

23 Startups Eligible for Visa’s Debut Africa Fintech Accelerator Program

23 Startups Eligible for Visa’s Debut Africa Fintech Accelerator Program

Visa has chosen 23 firms for its inaugural Africa Fintech Accelerator program, which aims to support African startups by providing knowledge, connections, technology, and investment capital. In July, Disrupt Africa reported on Visa’s Africa Fintech Accelerator program, which followed the company’s pledge to spend $1 billion in Africa’s digital transformation and its long-term commitment to…

Application is now Open for the 3rd Cohort of Google’s Black Founders Fund for Startups in Africa, Europe
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Application is now Open for the 3rd Cohort of Google’s Black Founders Fund for Startups in Africa, Europe

Google announced today that applications for the third cohort of the Black Founders Fund for Startups are now open in Africa and Europe, in keeping with the company’s commitment to digital transformation and support for black-founded startups. Google has committed $4 million this year to support eligible black-founded startups. Startups based in Africa with a…

Can Africa’s startup sector keep up its record funding run amidst global turmoil?

Can Africa’s startup sector keep up its record funding run amidst global turmoil?

Startups have become vital engines of change that can have an outsized impact on an economy. They are crucial in fueling innovation and enhancing economic and digital competitiveness. They improve access to products and solutions while significantly contributing to employment. In recent years, amid global economic volatility and uncertainty, Africa’s startup ecosystem has shown continued…

Orda, a startup in restaurant management in Nigeria, raises $3.4 million in an early round.
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Orda, a startup in restaurant management in Nigeria, raises $3.4 million in an early round.

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…

Finplus, Kenyan Startup Reaches $1bn Transaction Value Mark

Finplus, Kenyan Startup Reaches $1bn Transaction Value Mark

The Kenyan fintech firm Finplus Group has claimed that after five years of operation, its platform has processed transactions worth over US$1 billion. Finplus, a company founded in 2017 by Kageni Wilson and Bernard Banta, offers fully-managed software to assist financial service providers in running their businesses effectively and expanding in any market. With modular…

How much initial investment in start-ups is creating unrealistic optimism and too little sustainability
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How much initial investment in start-ups is creating unrealistic optimism and too little sustainability

Start-ups require capital to establish a business. Capital is the amount of initial investment plus any interest accrued early. The initial investment of a company initiative is the sum required to get things started. Both internal and external sources of funding are used by start-up founders. Many times, a lot of work goes into starting a business,…

Thepeer, a Nigerian API-Based Startup Secures $2.1 Million for Product Development
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Thepeer, a Nigerian API-Based Startup Secures $2.1 Million for Product Development

According to a statement provided to TechCabal today, Thepeer, a Nigerian tech infrastructure startup that facilitates frictionless wallet transfers between businesses, has raised a $2.1 million seed round. Thepeer was created in August 2021 as a solution to the expensive and time-consuming transfer of money across mobile wallets by Kosisochukwu Chike Ononye (CEO) and Michael…

Healthtracka, Nigerian Startup Secures $1.5 Million to Scale Medical Diagnostics
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Healthtracka, Nigerian Startup Secures $1.5 Million to Scale Medical Diagnostics

According to a statement provided to TechCabal today, Healthtracka, a Nigerian firm that provides simple at-home lab tests, has acquired $1.5 million in pre-seed funding. Venture capitalists Ingressive Capital and Hustle Fund are leading this round, which also includes angel investors Alunmi Angels Alliance and Flying Doctors. After taking part in the Techstars Toronto accelerator…

Moroccan Startup Chari Buys Ivorian B2B e-Eommerce Startup Diago
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Moroccan Startup Chari Buys Ivorian B2B e-Eommerce Startup Diago

Chari, a Moroccan B2B e-commerce and finance firm, said today that it has purchased a 100% share in Diago, an Ivorian app that connects local stores with FMCG makers and importers. AF Legal and RBB International firms, representing Chari, and Houda Law Firm, representing the Ivorian startup, handled the all-stock transaction. This transaction comes just…

Meet the 15 Startups Selected for CcHUB’s Createch Accelerator Programme
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Meet the 15 Startups Selected for CcHUB’s Createch Accelerator Programme

The CcHUB’s Creative Economy Practice has selected 15 entrepreneurs to participate in the Createch Accelerator 1.0 program, which will provide them with knowledge, networks, and assistance to help them accelerate their journey to profitability, scalability, and institutional financing. The selected startups will have access to a network of Creative Economy leaders, including the ATCG network…

Egyptian Healthcare Start-Up, Doxx Secures $1.5Million in Seed Round
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Egyptian Healthcare Start-Up, Doxx Secures $1.5Million in Seed Round

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…

Nigeria’s Autocheck Buys Moroccan startup to Facilitate North African Expansion
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Nigeria’s Autocheck Buys Moroccan startup to Facilitate North African Expansion

Autocheck, a Nigerian auto-tech firm, has purchased KIFAL Auto, a Moroccan competitor, to help it expand into the North African market. Autocheck’s goal is to create digital solutions that will improve and enable a seamless and secure automotive commerce experience throughout Africa. By developing a single platform for consumers’ automotive needs, from sourcing and financing…

South African agri-tech startup Nile secures $5.1m funding round led by Naspers Foundry
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South African agri-tech startup Nile secures $5.1m funding round led by Naspers Foundry

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…

SA emergency response startup RapidDeploy bags Nedbank investment deal
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SA emergency response startup RapidDeploy bags Nedbank investment deal

RapidDeploy, a South African emergency response platform, has raised equity capital from Nedbank CIB, the Nedbank Group’s corporate and investment banking division, one of the country’s four main banking companies. RapidDeploy is an open and integrated response technology founded by Steven Raucher and Brett Meyerowitz that transforms any size first responder communications center into a…

Egyptian B2B?? e-commerce startup Teegara completes bridge funding round
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Egyptian B2B?? e-commerce startup Teegara completes bridge funding round

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…

GoMetro, a South African logistics startup, has raised a $1 million seed round to help it expand
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GoMetro, a South African logistics startup, has raised a $1 million seed round to help it expand

GoMetro, a South African logistics startup, has secured $1 million in a seed extension round to accelerate its growth, enhance its sales team, and aggressively expand into the South African, UK, and US markets. The investment round also included Kalon Venture Partners, Hlayisani Capital, Tritech Global, 4Decades Capital, and E Squared Investments. GoMetro is a…

Nairobi’s accelerator, The Baobab Network supports 5 new African startups with $25k
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Nairobi’s accelerator, The Baobab Network supports 5 new African startups with $25k

The Baobab Network, a Nairobi-based accelerator that invests in early-stage software firms across Africa, has announced its next cohort of five investees, each of which will receive US$25,000. After making five more investments as part of a new model, the Baobab Network has been propelling companies with capacity building and fundraising since 2019. It now…

Mindjoy SA ed-tech startup is making coding more accessible for kids
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Mindjoy SA ed-tech startup is making coding more accessible for kids

Mindjoy, a Cape Town-based ed-tech company, wants to make coding skills available to kids – and adults — on any internet-enabled device. Gabi Immelman founded Mindjoy in July 2021 to address one of the industry’s most widespread issues: a lack of digital skills development. Mindjoy offers live, small-group virtual coding sessions to kids aged eight…

DigsConnect, SA startup bags investment from venture builder The Delta
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DigsConnect, SA startup bags investment from venture builder The Delta

DigsConnect, a student housing marketplace, has secured funding from international startup capital firm The Delta as part of its latest funding round. The DigsConnect website, which was founded by Alexandria Procter and Greg Ramsay-Keal in 2018, allows landlords, estate agents, and property managers to post their property listings, with students searching and filtering through these…

Ark Kapital releases €150 million to support startups

Ark Kapital releases €150 million to support startups

ArK Kapital, based in Stockholm, has secured a €150 million senior secured debt facility from Pollen Street Capital after raising €165 million in March to provide long-term alternative financing options. Through AI-powered financial forecasts and non-dilutive funding, the company will be able to assist startups in growing smarter. ArK Kapital, which was founded by six-time…

IFC Funds Algebra Ventures With $15m to Propel Egypt’s Startup Ecosystem
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IFC Funds Algebra Ventures With $15m to Propel Egypt’s Startup Ecosystem

IFC, a World Bank Group member, will invest $15 million in Algebra Ventures’ second fund, which will support the growth of approximately 20 technology startups in Egypt and across Africa. Algebra Ventures II, with a target size of $90 million, will focus on women-led businesses and those serving rural communities, and will provide access to…

Egyptian E-health Startup Rology Secures Pre-Series A Funding Round

Egyptian E-health Startup Rology Secures Pre-Series A Funding Round

Rology, an on-demand teleradiology platform based in Egypt, has closed a pre-Series A round of funding to help it expand across the Middle East and Africa. Rology, founded in October 2017 by Amr AboDraiaa, Moaaz Hossam, Mahmoud Eldefrawy, and Bassam Khallaf, has built a cloud-based platform that provides intelligent matchmaking between patients and remote radiologists,…

Apply:  e-Track Programme by UCT GSB Solution Space, ayoba
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Apply: e-Track Programme by UCT GSB Solution Space, ayoba

The last e-Track Programme concluded earlier this month with seven of the graduating startups pitching their businesses to an audience at a hybrid event hosted on the GSB campus, which was run by UCT GSB Solution Space – a specialized centre of the University of Cape Town Graduate School of Business focused on high-impact early…

Egyptian Market research startup, Intella completes $1 million Seed round for expansion
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Egyptian Market research startup, Intella completes $1 million Seed round for expansion

Intella, the Middle East and North Africa’s first real-time intelligence provider, has announced a $1 million seed funding round led by Hala Ventures and Falak Startups, with participation from the Egyptian Ministry of International Cooperation and its venture capital arm, Egypt Ventures, as well as the Egyptian Ministry of International Cooperation. Other investors have also…