Startups
In nearly a decade, hundreds of entrepreneurs have emerged with innovative startups across the African continent. We provide insights on their experiences and highlight the activities of investors who fund them.
Top stories
Cartona, an Egypt-based B2B eCommerce platform, has raised $8.1 million in a Series A extension round, to grow its market share and help retailers. This comes a year after it raised $12 million in Series A funding.
Nigerian healthtech company Intron Health has secured $1.6 million in pre-seed funding to advance its AI technology, bolster its research efforts, and expand distribution.
The recent restriction on Mercury Bank’s services in 15 African countries has created an urgent need for startups to find reliable alternatives. Here are five alternatives that could fill in the gap.
Mercury Bank, a US based fintech, has announced it would close accounts opened by business users from 15 African countries, including Nigeria.
Sycamore wins $100,000 at the second edition of the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation. The lending startup shared the spotlight with Kunda Kids and PaveHQ who won $70,000 and $50,000 respectively.
17 months after a $400 million investment that made it Egypt’s first unicorn, MNT-Halan has raised an additional $157.5 million in a new funding round to support its expansion. This move brings the startup’s total funding to $677.5m over the past two years.
Retail media spending is forecast to reach $100 billion in 2024, and Chowdeck’s ad offering puts it in a prime position to tap into this growing market.
d.light has secured a new financing arrangement to buy $176 million of receivables in Kenya, Tanzania, and Uganda. This funding will help 6 million people in these countries access renewable energy over the next 3 years.
Ignoring this crucial step could cost your startup everything Startup attorney, Omoruyi @UyiDLaw Edoigiawerie, shares insights on protecting your brand, app, proprietary technology, and navigating crucial legal steps on your startup journey
Dopay, an Egyptian fintech, has secured $13.5 million in a Series A extension round to improve offerings and accelerate expansion nearly three years after getting a licence.
Bio-Logical, a Kenyan climate startup, has secured $1.3 million in funding to bolster its operations and establish three new sites across Kenya in 18 months.
TurnStay, a South African travel-focused fintech, has secured R5.4 million ($300,000) to further expand in Africa and strengthen its local market position.
Kenyan beauty startup Uncover, which raised $1 million in seed funding in 2022 and expanded to Nigeria, has now secured an additional $1.4 million to enter the markets in Ghana, Uganda, and the United States.
Only 1.3% of informal businesses in Nigeria generate ₦2.5 million in monthly profit. Most of them generate about ₦250,000 in profit every month.
Despite going into administration, laying off, and pausing operations, Kenya’s Copia is abandoning efforts to revive its cash-strapped company.
Zoho, an Indian software company, will increase its prices in response to Nigeria’s economic conditions, effective August 2024.
Nigeria’s identity verification company, Prembly has merged with Peleza, a Kenyan company that does background checks for companies. Both entities will now become Prembly Group, with a workforce of 100.
Entrepreneurship is an extreme sport that takes a toll on founders’ lives, as well as their mental health. Here are ways founders navigate this, including tech solutions that are helping.
Mano, an Angolan grocery delivery startup, has expanded into Lagos and Abuja’s food delivery market. It introduced a new model allowing customers to track and ensure deliveries within a 10km radius of restaurant partners.
Although North African startups receive less venture capital than their West African counterparts, innovation is thriving. Here are seven deep tech startups, from AI healthcare solutions to financial planners.