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 helps 25 startups in 11 countries. Beginning in March, the newest cohort began a three-month intense growth program.

“We thought now was the appropriate time to introduce our cohort investment model because the quality of companies in our pipeline has grown considerably since we first started investing in 2019,” said Arthur Chupeau, The Baobab Network’s head of ventures.

“We currently have over 1,500 applicants each year, and we’ve handled applications from organizations in over 50 African nations in the last 24 months, so our brand reach is vast these days.” Our ambition is to become the ideal partner for any African entrepreneur looking to cash their first check.”

Sidebrief, which helps African companies build across borders by streamlining legals, incorporation, company admin, banking, and regulation through their APIs; Lendha, a full-stack, tech-led lending platform; and GoodTalent, a talent marketplace for companies to crowdsource, screen, hire, and pay engineering talents globally for full-time, remote, and contract roles, were three of the investees from Nigeria.

Opus Analytics of Egypt, which develops HR and people analytics software for SMEs and corporations in the MENA area and beyond, and Mighty Finance of Zambia, a lending platform for SMEs, were also chosen.

The five new companies, each of which received US$25,000 in capital and a comprehensive growth program, join 20 previous entrepreneurs in which The Baobab Network has invested since its accelerator debuted in 2019.

“We regard our fundamental function as an accelerator, in addition to providing capital, as assisting entrepreneurs in navigating the difficult early months of scaling their businesses, such as achieving product market fit, iterating their product, and gaining commercial traction.” “Within 6-12 months of joining us, we work closely with founders to prepare them for a larger seed round,” said Wanjiku Kimani, a venture partner at The Baobab Network.

Early in June, the cohort’s startups will pitch during an online demo day, which investors may register for here. The Baobab Network’s next cohort, which begins in June 2022, is now accepting applications here.