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Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• Obi Ozor has returned to lead Kobo360’s revival plan, focusing on debt restructuring and securing new contracts to restart operations by Q2 2025.

• Ladder, an AI-powered wealth management platform, was named Fintech Startup of the Year at the 2024 Ghana Fintech Awards.

• Stitch has partnered with Standard Bank’s Shyft to enable instant wallet top-ups for Shyft users from any bank in South Africa.

• Zipline announced plans to expand its drone logistics network to five more Nigerian states to deliver essential medical supplies faster to remote areas.

• Chowdeck cut 68% of its contract staff after optimizing operations and increasing efficiency, while preparing for a beta launch in Ghana.

💸 Top Funding Rounds

• Khula raised $6.7 million in Series A funding, backed by Absa Bank and PepsiCo, to scale its platform that connects farmers and buyers.

• ORA Technologies closed a $1.9 million Pre-Series A round to scale its food delivery platform Kooul and digital payment solution ORA Cash.

• Kenyan re-commerce startup Badili has secured $400,000 in debt funding from Proparco to expand its refurbished smartphone initiative.

• A Ventures increased its stake in waste management platform Mrkoon to 28% with a bridge funding round to accelerate its regional expansion.

• Hedera has made an investment in Ivorypay to enhance its crypto payment platform, enabling businesses across Africa to accept stablecoin transactions.

💰️ Notable Exits

• PayTabs acquired a majority stake in PayTabs Egypt to strengthen its digital payment solutions and financial inclusion efforts in Egypt while enhancing its regional presence and innovation in the fintech sector.

• Omegro, part of Volaris Group and Adapt IT, has acquired South African hospitality software firm Spa Guru, integrating it into Micros South Africa to drive long-term growth and global market expansion.

🏦 About Investors

• LoftyInc Capital raised $43 million for its LoftyInc Alpha Fund to scale Africa’s top tech startups, focusing on Nigeria, Egypt, Kenya, and Francophone Africa.

• Antler VC has entered Nigeria with a $100,000 investment per startup, backing founders at the idea stage and providing hands-on support to build scalable businesses across various sectors in West Africa.

• Egypt’s FRA raised the micro-enterprise loan limit to $5,278 and micro-insurance coverage to $6,166 to counter inflation, support financial inclusion, and strengthen the non-banking financial sector.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Khula

Founded in 2016 by Karidas Tshintsholo and Matthew Piper, South African agritech startup Khula has raised $6.7 million in a Series A funding round led by E Squared Investments, with participation from Absa Bank, AECI, E Squared, and PepsiCo’s Kgodiso Fund. The funding will support Khula’s mission to transform agriculture by connecting farmers with buyers, streamlining transactions, and providing access to essential resources, financing, and market opportunities. With plans for a second Series A close by Q2 2025, Khula aims to strengthen its presence in South Africa and expand into new markets, positioning itself as a leader in Africa’s agritech sector.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

LoftyInc Capital

Founded in 2017 by Idris Ayodeji Bello, Michael Oluwagbemi, and Marsha Wulff, LoftyInc Capital has raised $43 million for its LoftyInc Alpha Fund to support Africa’s top tech startups with a focus on Nigeria, Egypt, Kenya, and Francophone Africa. The fund targets late-seed investments in high-impact sectors like fintech, healthcare, logistics, AI, and climate tech, aiming to drive innovation and scalable growth across the continent. Backed by sovereign wealth funds, DFIs, and high-net-worth individuals, the Alpha Fund reflects LoftyInc’s continued commitment to advancing Africa's tech ecosystem.

🤑 Opportunity Radar

Call for Applications: Venture For ClimateTech Cohort 5

Apply to Venture For ClimateTech Cohort 5 by March 12, 2025, and take your climate innovation to the next level. This program provides early-stage entrepreneurs with up to $50,000 in non-dilutive funding, hands-on mentorship, and access to a global ecosystem of investors and experts. Over six months, selected teams will receive support in commercialization, business development, and scaling, culminating in an investor-focused Demo Day in NYC. If you're working on a breakthrough ClimateTech solution with potential impact in New York State, start your application now and join the next wave of climate innovators.