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
Cloudline, a South African aerospace startup, has raised $6 million in seed funding to lead the global advancement of autonomous flight with zero-carbon emissions.
Nigeria’s Minister of Communication, Innovation and Digital Economy has announced 45 recipients for the National AI Research Grant Scheme (NAIRS) more than one month after the application closed.
Bumpa has acquired Fyyne, a Toronto-based beauty marketplace, for an undisclosed sum to enter new markets. With employees in Nigeria and Canada, Fyyne will transfer its technology, customer base, and some team members to Bumpa.
Nigerian entrepreneur, Dozy Mmuobosi , has been charged with fraud by the US Securities and Exchange Commission.
Pezesha has submitted a petition to liquidate MarketForce, a troubled B2B eCommerce platform, due to “unpaid debts.” This fresh update follows MarketForce’s $40 million funding announcement in February 2022.
BlackRhino VR, a Kenyan extended reality company, has launched MediAR, Africa’s first no-code Augmented Reality platform for content creators. Creatives can aslo monetise their content on the platform.
Techstars has selected 12 African companies for the second cohort of its Africa-centred accelerator programme. Each startup will receive $120,000 in funding and $400,000 in other support.
Launched in 2021, MAKA, a social commerce platform, has announced its $2.65 million pre-seed round to strengthen its presence in Nigeria and Ghana. It will also use the investment to grow its workforce, improve its operations, and upgrade its technology.
Copia Global has raised a $20 million Series C extension round, nearly two years after it raised $50 million in Series C funding. John Lazar, the former CEO of Metaswitch, a Microsoft subsidiary, has also joined the board of the Kenyan eCommerce company.
Bujeti, a YC-funded Nigerian fintech startup, has raised $2 million in seed funding to scale its comprehensive corporate card issuance and expense management platform.
Chowdeck has expanded into grocery offerings, listing Shoprite on its online platform one month after reaching $1.2 million in monthly gross merchandise value (GMV). This move comes two months after Glovo partnered with the retail giant.
Challenges are a given for any startup, but founders can avert a public relations disaster by working with professionals.
Six months after receiving $180K from SOSV’s Orbit Startups, a Kenyan startup, tappi, raises a $1.5 million pre-seed to help SMEs gain visibility and credibility in the digital commerce space.
A year after raising $1 million seed, Nigerian fintech startup, Pivo is shutting down.
Three years after operating in Poland and the Czech Republic, a Nigerian fintech startup, Lidya, is leaving these Eastern European nations to focus on the Nigerian market.
Blockchain payments platform, Bitmama Inc. has confirmed the acquisition of Payday, a virtual card service provider. The news comes barely nine months after Payday announced its $3 million seed round and three months after its exploration of sale options was confirmed. Facilitated through Bitmama’s cross-border payments product Changera, the acquisition marks a pivotal shift from…
Less than a year after leaving office as the governor of Kaduna State, Nasir El-Rufai has announced plans to launch a $100 million fund in 2024.
i-invest began operations by enabling Nigerians to purchase treasury bills using a smartphone. Now serving 250,000 users, it has its eyes on building the everything app for financial services in Africa.
LemFi, a fintech startup founded by former OPay employees has suspended operations in Ghana. This comes one week after the Bank of Ghana disclosed that it was operating without approval in the country.
Startups, investors, and accelerators can now register on the Startup Act’s support and engagement portal to access funding, tax relief, and other benefits.