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
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.
FriendyM, a Cairo-based autotech startup, has raised a $2 million investment to extend its services to all governorates in Egypt.
Bosta, an Egyptian logistics startup, has secured new investment funds from Axian Group to support its expansion plans.
Lapaire, a Kenya-based eyewear startup, has secured $3 million to drive its expansion across Africa.
Nigerian fintech startup, Cleva, raises $1.5 million in pre-seed funding to facilitate international payments across Africa.
Twiga CEO Peter Njonjo has resigned from the company’s board a month after the Kenyan B2B eCommerce company said he would take a 6-month sabbatical. It comes 4 years after the former CEO, Grant Brooke, resigned.
Four months after reducing its workforce by 20%, Cellulant has announced that its CEO, Akshay Grover, will step down. Peter O’Toole, the company’s current CFO, will assume the role of Acting CEO.
The embattled founder of Tingo Group, Dozy Mmobuosi, faces up to 45 years in prison following charges brought against him by US authorities.
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.