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Venture capital continues to grow in South Africa - survey

A survey of the venture capital industry in South Africa has shown 122 local startups received a record R1.39 billion from investors during 2020. An online webinar hosted by the Southern African Venture Capital and Private Equity Association (SAVCA) unpacked the key findings of the 2021 Venture Capital Industry Survey. "During the first three months of COVID, many businesses temporarily closed down," Investment Principal at Edge Growth Ventures and webinar participant, Vu

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CDI Capital Growth Fund opens funding applications for small businesses

CDI Capital Growth has announced that it is opening applications for funding grants to help small businesses, with the aim to create 600 news jobs by 2023. The funding will be available for businesses that are experiencing growth or plan to expand and can therefore create jobs. The emerging impact funder, which is part of the Craft + Design Institute non-profit organisation, will award grants between R105 000 and R1 050 000 to small businesses that succeed in their applic

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Naspers invests R34m in local insurance advice app Ctrl

Naspers has announced it will invest R34 million in startup Ctrl, a short-term insurance marketplace digital platform that connects clients, brokers, and insurers. The South African multinational company announced the investment on 21 July. It forms part of Naspers' R1.4 billion commitment to help early-stage tech companies via its Naspers Foundry investment vehicle. Ctrl is a great example of how innovations in technology can improve upon traditional business

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SA home services portal Kandua closes significant funding round

Joburg-based home services marketplace Kandua announced the close of a significant pre-series A funding round in a statement today. The round was led by Knife Capital and Allan Gray E-Squared Ventures . The startup was founded by Arjun Khoosal (CTO), Sayo Folawiyo (CEO) and Lucas du Toit in 2014. The Kandua platform connects artisans to users in need of help around their homes. The offering also helps listed contractors with tools around finance, marketing and operations to improve

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Legal advice for entrepreneurs: the ABCs of Due Diligence

Investor funding can be the lifeblood of a start-up. However, most investors will want to conduct a due diligence investigation on a business before investing any funds or taking up an equity share. What does this mean for your business if you are looking for funding? These tips should assist& What is a due diligence investigation? A due diligence investigation examines the structure and operations of the target company, its assets and liabilities, as well as any po

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Cape healthtech iNNOHEALTH raises seven-figure seed capital

Cape Town-based startup, iNNOHEALTH has announced an undisclosed seven-figure investment from a Hong Kong-based VC. The investment will go to expanding the startups doctor-led app, MyPocketHealth, launching later this year for the national user base. The AI-enabled healthtech offering is set to position iNNOHEALTH at the forefront of digital healthcare in SA, easing the delivery of crucial primary healthcare services and products. Covid-19 has made virtual healthcare a

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Lagos startup Terragon secures growth investment

Lagos-based startup Terragon has secured an undisclosed investment from VestedWorld , an Africa-focused early-stage investment fund manager. The firm announced the partnership on 30 June 2021. VestedWorld has invested in Terragon to further increase the companys geographic reach, expand its product suite and develop new partnerships. Understanding the African consumer Founded in 2011 with the vision to become the leading marketing technology company in Africa, Ter

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Ghanaian fintech Zeepay completes $7.9-million funding round

Accra-based fintech Zeepay announced the completion of a $7.9-million Series A.0 funding round on 30 July 2021. Funds raised hybridise equity and balance sheet funding to support Zeepays operations. Founded in 2014, Zeepay is currently the fastest growing mobile financial services company in Africa, with termination agreements in over 90 jurisdictions globally. The app allows digital remittances from the diaspora to mobile wallets, bank accounts and visa cards across 20 markets in A

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Cape startup Brown and Ayo awarded R4-million investment

Enygma Ventures has announced a R4-million investment into Cape Town-based black hair care and lifestyle brand Brown and Ayo . The investment reflects the venture capital firms ongoing mission to support women entrepreneurs across the SADC . Digital marketplace for natural black hair care Since its inception in 2019, Brown and Ayo has provided customers with an extensive online marketplace of natural hair extensions created to mimic black natural hair textures. The

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Cape Town-founded tech startup secures R42-million

Cape Town-founded mobility tech startup WhereIsMyTransport has secured R42-million in funding from Naspers. This investment forms part of R201-million funding round led by Naspers Foundry , Cathay AfricInvest Innovation Fund, and SBI Investment. Phuthi Mahanyele-Dabengwa, South Africa CEO of Naspers comments on the importance of supporting innovations that address mobility issues. Mobility remains an obstacle for billions of people in high-growth markets across the worl

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SA tech startup Sendmarc secures funding

Johannesburg-based tech startup Sendmarc has secured an undisclosed amount of funding in an investment round led by Kalon Venture Partners with contribution from Endeavor South Africa 's Harvest venture Capital II fund. Clive Butkow the CEO of Kalon Venture Partners comments on the funding round injected into the innovative local tech startup. Having Endeavor on board really validates the problem that Sendmarc is solving and provides the team access to their global netw

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Almentor secures $6.5-million in funding

Almentor.net, a leading video e-learning platform in the MENA region, has secured $6.5-million in a funding round led by Partech with participation from Sawari Ventures, Egypt Ventures, and Sango Capital. According to reports, the recent raise of funding brings the total financing that the company has garnered since its inception to a total of $14.5-million. Cyril Collon, General Partner at Partech attributes their investment into the startup to its unique business mode

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