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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 🌍

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.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Hohm Energy, a South African solar startup founded by Tim Ohlsen and Emir Gluhbegovic in 2021, filed for voluntary liquidation due to financial challenges despite raising $8 million earlier this year.

• M-KOPA was ordered to pay taxes in Kenya after a tribunal ruled that key decisions were made locally despite the company's UK incorporation.

• LATAM fintech PayRetailers expanded into eight African markets, deepening its presence to 12 countries and targeting Africa's growing financial market.

• NBA Africa selected 10 startups from seven African countries for its Triple-Double Accelerator Demo Day in New York.

• French-Moroccan startup VelyVelo was selected at the 100th International Selection Panel (ISP) in Dublin to join Endeavor's prestigious network.

💸 Top Funding Rounds

• French-Algerian startup LabLabee raised $3.4 million in seed funding led by Reach Capital to expand its telecom training platform.

• Egyptian B2B payment platform SETTLE raised $2 million in pre-seed funding led by Shorooq Partners to streamline financial operations and expand globally.

• South African Happy Pay raised $1.8 million in pre-seed funding co-led by E4E Africa and 4Di Capital to expand its AI-driven BNPL platform.

• Nigerian Regfyl raised $1.1 million in pre-seed funding led by RallyCap Ventures to reduce AML compliance costs for African fintechs and banks.

• Egyptian EdTech startup Farid raised $250,000 in pre-seed funding from Amal bint Abdulaziz Al-Ajlan, aiming to expand its platform across the region.

💰️ Notable Exits

• Xero is set to acquire South Africa's Syft Analytics for up to $70 million, with $40 million paid upfront and $30 million tied to performance milestones.

🏦 About Investors

• Uncap has launched a €30 million fund named Unconventional Capital to provide non-dilutive, revenue-based financing for African SMEs in sectors like agriculture and logistics.

• Foodpreneurs Hub has raised $500,000 in funding to enhance food processing innovation and tackle food insecurity in Africa through support for local food entrepreneurs.

📈 Deep Dive Bites

Explore the dynamic angel investment landscape of West Africa and see how key networks are driving growth and innovation across the region. From Lagos Angels Network to Dakar Angels, these investors are critical in providing early-stage startups with funding, mentorship, and strategic guidance. Discover in the full article how these networks are turning entrepreneurial ideas into success stories and boosting economic growth across the region.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Lablabee

LabLabee, a French-Algerian telecom training platform, raised $3.4 million in seed funding to enhance its hands-on learning labs for 5G, AI, and cloud technologies. The startup, co-founded by Samir Tahraoui, Mahfoud Sidi Ali Mebarek, and Nabil Chair, addresses the global telco skills gap by providing affordable, immersive training experiences for telecom professionals, helping them upskill and adapt to industry shifts. With this funding, LabLabee plans to expand its reach in the EMEA region, enter the US market, and broaden its course offerings with advanced features like an end-to-end sandbox learning environment.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Uncap

Uncap has launched a €30 million non-dilutive fund to support African SMEs with revenue-based financing, led by CEO Franziska Reh and Investment Principal Esther Ndeti. Unconventional Capital targets sectors like agriculture, logistics, and climate resilience through strategic partnerships with SAIS and O-Farms, providing flexible funding solutions for early-stage businesses. Supported by the Gates and Bayer Foundations, Uncap aims to bridge the capital gap for African SMEs, driving sustainable economic growth across the continent.

🤑 Opportunity Radar

TVC Labs - MentorPitch 8

Apply to MentorPitch8 by September 30, 2024, to boost your tech-enabled startup with mentorship from industry leaders. Focused on EduTech, AgriTech, Renewables, Clean Tech, and more, MentorPitch connects founders with tailored guidance, networking opportunities, and strategic support to refine business models and achieve growth.