Hello there,

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 🌍

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Ready? Let’s get right into it.

📰 Important News

• Ghana’s Ministry of Communications will present the Innovation and Startup Bill to Parliament, aiming to create a legal framework that boosts startups.

• Nigeria is suing Binance for $79.5 billion over economic losses and $2 billion in back taxes, accusing the exchange of tax evasion.

• Kenya’s tax tribunal upheld KRA’s decision to classify Ebee Mobility’s e-bike shipments as fully built units, increasing its tax burden.

• Nigeria is set to tax cryptocurrency transactions by amending regulations and expanding oversight, with the SEC drafting new rules.

• Vendease has laid off 120 employees in its second round of cuts in five months as it restructures for profitability and seeks a Series A extension.

💸 Top Funding Rounds

• Egypt-based SaaS startup Qme raised $3 million in seed funding led by UAE’s AHOY to enhance its AI-driven queuing platform.

• Dabchy secured pre-Series A funding led by Janngo Capital and angel investors to expand its second-hand fashion marketplace.

• Ghana-based KYC fintech Regulon joined Baobab Accelerator, securing $100,000 in funding to scale its AI-powered compliance platform.

• PayFast founder Jonathan Smit has invested in VezoPay, a South African startup developing smart rings for tap-and-go payments.

💰️ Notable Exits

• UAE-based Dubizzle Group acquired Egypt’s Hatla2ee to enhance its automotive presence, offering a seamless car buying and selling experience.

• 2PointZero acquired Egypt’s Maseera Holding to expand AI-powered financial services, enhancing financial inclusion for underserved communities.

• Moove acquired Easy Carros, expanding its global presence across six continents, while integrating Easy Carros' vehicle rental technology solutions.

🏦 About Investors

• Algérie Télécom launched an $11 million AI fund to support startups in AI, cybersecurity, and robotics, aligning with the government's strategy and plans.

• The European Investment Bank invested $15.8 million in I&P's IPAE 3 fund to support high-impact SMEs in West Africa and Madagascar.

📊 Investment Highlights

Explore how Moroccan startups are defying Africa’s funding slump, securing key investments to scale and expand globally. From fintech to agritech, discover the innovative companies like Nuitee, YoLa Fresh, and Tookeez that are reshaping industries and attracting significant funding. Delve into the full article to uncover the full list of standout startups, their groundbreaking solutions, and how they’re positioning Morocco as a hub for entrepreneurial growth.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Qme

Egypt-based B2B SaaS startup Qme, founded in 2022 by Maged Negm, has secured $3 million in seed funding led by UAE’s AHOY, with participation from GCC angel investors. Qme’s AI-driven platform optimizes queuing, appointment bookings, and digital payments across sectors like healthcare, banking, and government, aiming to reduce wait times and enhance customer experiences. The funding will support technology enhancements, expansion into GCC and West Africa, and leverage AHOY’s Startup Builder Initiative for further growth.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Algérie Télécom

Founded in 2000, Algérie Télécom is a state-owned telecommunications company that has been part of Groupe Télécom Algérie since 2017, providing fixed-line, mobile, internet, and satellite communication services. The company has launched an $11 million AI investment fund to drive innovation in artificial intelligence, cybersecurity, and robotics as part of Algeria’s broader digital transformation agenda. Announced at the CTO Forum, the initiative aligns with the government’s goal of making AI a key economic driver, contributing 7% to GDP by 2027, fostering 20,000 startups, and expanding digital infrastructure. The fund will support AI startups, research institutions, and talent development through dedicated universities, incubators, and training programs, positioning Algeria as a regional leader in AI and digital transformation.

🤑 Opportunity Radar

Call for Applications: Global Entrepreneurship Challenge 2025

Apply to the Global Entrepreneurship Challenge 2025 by March 4, 2025, for a chance to launch and scale your startup in Japan’s dynamic business ecosystem. Backed by the Tokyo Metropolitan Government, this program offers international entrepreneurs mentorship, networking with local businesses, and full travel support to Japan. Whether your innovation focuses on sustainability, digital transformation, education, or culture, this is your opportunity to establish your business in one of the world’s leading markets. Don’t miss your chance to be part of this global initiative—apply now and take your venture to the next level in Tokyo!