African crowdfunding Article / crowdfunding Blog

Local biotech startup secures $47-million

SA and US-based biotech startup LifeQ has secured $47-million in Series A funding from One Bio Venture Studio , a Cape Town-based VC and several other investors. According to reports, the funding will be used to help the biotech startup meet its demand for remote health monitoring that has been spurred on by the global pandemic. Laurence Olivier, Chief Executive of LifeQ provides insight into how the capital will be used. "Much of the capital from the Serie

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Egyptian agri-fintech startup secures seven-figure amount in funding

Giza-based Agri-fintech startup Mozare3 has secured an undisclosed seven-figure amount in a pre-seed funding round led by Algebra Ventures and Disruptech Ventures, with participation from EFG-EV, and a group of reputable angel investors. Tarek Assaad, Managing Partner at Algebra Ventures attributes their investment into the startup to the innovative financial products offered in a market that requires a tech-enabled solution. The agriculture industry suffers from price

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Nigerian fintech startup BFREE secures funding

Lagos-based fintech startup BFREE has secured an undisclosed amount of funding in a seed round led by Nigeria-based Beta.Ventures alongside Launch Africa Ventures and GreenHouse Capital. Ike Eze, of Beta Ventures, attributes the investment into the fintech startup to its social impact feature that assists individuals in managing their existing debt and becoming financially stable. We are really excited to help grow the first ethical credit management company on the cont

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Startup Circles secures R2.1-millioninvestment

Startup Circles , an innovative practical business school for entrepreneurs that assists entrepreneurs in scaling their business and becoming investor-ready has secured R2.1-million in funding from US Venture Capital fund, Enygma Ventures . Sarah Dusek Managing Partner of Enygma Ventures explains that the investment is a strategic commitment to the local entrepreneurial ecosystem. Weve been incredibly impressed by the talent of African entrepreneurs but sometimes the di

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Cape Town edtech iXperience secures $2.5-million

Cape Town-based edtech company iXperience has secured $2.5-million in a Series A funding round led by Kalon Venture Partners and Caleo Private Equity . According to reports, iXperience will utilise the investment funding to expand its team, develop its innovative tech platform, launch programmes across different markets, and build its global strategic partnerships division. Clive Butkow, CEO of Kalon Venture Partners attributes the investment into the innovative edtech

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Local foodtech startup secures funding

Cape Town-based food tech startup Kombo King has secured an undisclosed amount of funding from The Vumela Fund, established by FNB Business and Edge Growth. Vuyiswa Nzimande, Principal at Edge Growth and lead dealmaker explains comments on the investment made into the foodtech startup. Consumer-centric product offerings are key to attracting customers in a highly competitive convenience food market. We view Kombo King fryers as an enabler to its clients to differentiate

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Cameroon fintech secures $3-million

Douala-based fintech company Maviance PLC has secured $3-million in a seed investment round led by MFS Africa, the pan-African digital payments hub. The fintech company will use the funding to increase its presence in Cameroon and expand its business model into other countries in the central African economic region (CEMAC). Dare Okoudjou, CEO and founder of MFS Africa comments on the investment made into the fintech. The rapid development of digital financia

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Joburg-based fibrePOYNT receives funding to provide internet to townships

South Africa's Department of Science and Innovation's entity The Technology Innovation Agency (TIA) has announced that it is funding the distribution of antenna-based high-speed fixed internet solution for low-income communities. The innovative and affordable internet solution have been developed by fibrePOYNT, a Johannesburg-based internet company and is being backed by the local Government. In an official press statement , The Technology Innovation Agency expresses th

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Kenyan insurtech startup secures $1.8-million

Nairobi-based insurtech startup Lami Technologies has secured $1.8-million in a seed funding round led by Accion Venture Lab with participation from AAIC, Consonance, P1 Ventures, Acuity Ventures, The Continent Venture Partners, and Future Africa. According to reports from the insurtech startup, the funding will be used to further improve Lami Technologies' digital insurance platform which aims to support low-income populations. In addition, the funding will be used to expand the te

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North African tech startup secures $20-million

Tunisia-French tech startup Expensya, an automated spend management solution for businesses has raised $20-million in its most recent fundraising campaign secured from MAIF Avenir, Silicon Badi along with ISAI and Seventure. According to reports from the tech startup, the funding secured will enable the company to accelerate its international growth and expansion. In addition, the funding will assist the fintech in achieving its goals of providing the most comprehensive payment and

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Kenyan edtech Kidato secures $1.4-million

Nairobi-based edtech startup Kidato has secured $1.4-million in a seed funding round from Learn Start Capital, Launch Africa Ventures Fund, Graph ventures, Century Oak Capital, and an Ivy League university endowment fund along with participation from notable local and global angel investors. In an official press statement, Kidato shares that a number of additional investors contributed to the latest round of funding secured and highlights how the funding will be used. "

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SA legal tech startups receive funding

Two innovative legal tech startups, Legal Lens and BriefCo , held by Cycad Group have received an undisclosed amount of funding from Imvelo Ventures, a local venture capital firm founded by Capitec Bank and Empowerment Capital Investment Partners. Anton Baumann, executive director at Empowerment Capital and Imvelo Ventures points out the types of startups that the VC invests in. Were looking for South African businesses developing unique tech solutions for South African

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