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
Klas, a Nigerian edtech platform, has raised a $1 million pre-seed fund to expand its user base, focusing on India and North America.
The depreciation of Nigeria’s currency has led to a significant increase in the prices of software products, prompting local startups to transition towards domestic alternatives.
Bboxx, a data-driven utility platform, is relocating its headquarters from London to Kigali, Rwanda, to invest $100 million and train over 1,000 people.
Kenyan-based startup InspiraFarms has secured $1.09 million to support its off-grid energy cold storage projects across Africa. It comes a month after it raised $5.4 million from InfraCo Africa to pilot its ‘Cooling-as-a-Service’ model.
Senegal’s ProXalys has secured $500,000 in funding from 216 Capital to scale its services, following a $150,000 investment from Haskè Ventures in 2022.
Apollo Agriculture, a Kenyan agritech company, has closed $10 million in funding to foster expansion across Africa two years after raising $40 million in a Series B round.
Roboost, an Egyptian AI-powered logistics startup, has received a $3 million investment to diversify its services by offering eCommerce and middle-mile solutions.
Mira, a Cairo-based beauty and wellness startup, has received a $200,000 investment from Wingoo Investment and Technology to expand its customer base and reach beyond Africa.
Egyptian startup, DXwand, has raised $4 million in Series A funding to expand its chatbot to the Middle East and North Africa (MENA) region.
A Morocco-based startup, Creole, has received $1.4 million in seed funding to grow its management system.
Nigerian edtech, AltSchool Africa has launched in Kenya as it aims to deepen its roots in the country and continue its East-African push.
Twiga Foods and Incentro have agreed to settle their lingering Google Cloud Service debt dispute amicably, without legal action. This news comes a month after a Kenyan court gave the companies three months to resolve the matter.
Kenyan agritech startup, Shamba Pride, raises $3.7 million pre-Series A to strengthen its operations
Shamba Pride, a Kenyan agritech startup, has raised $3.7 million to improve its Kenyan operations and broaden its merchant network. This move comes two years after obtaining $1.1 million in funding to expand operations throughout Kenya.
Ukheshe, a South African fintech company, has acquired Loita’s EFTCorp three years after acquiring Masterpass developer Oltio from a payments giant, Mastercard.
Iyin Aboyeji, the founder of the VC firm Future Africa, and Mia von Koschitzky-Kimani, a general partner at the firm, are set to launch Accelerate Africa with a $750,000 grant from USAID.
Egyptian healthtech startup, Yodawy, has received a $10 million investment fund from Ezdehar, an Egyptian private equity firm, to bolster its growth nearly a year after closing an additional $16 million Series B round.
Canza Finance, a Nigerian startup, has raised an additional $2.3 million to bolster the development of its DeFi solutions, nearly two years after closing a $3.27 million seed round.
Nigerian-based agritech startup, Zebra CropBank, has raised funds to help African farmers tackle post-harvest challenges.
Zeal, an Egyptian fintech startup, has secured $4 million in funding to expand its technology across Europe, the Middle East, and Africa (EMEA).
Nigerian fintech Gladefinance, backed by Techstars, is in talks for acquisition by two fintech firms after it failed to raise a seed round in 2023.