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.

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

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Kenya-based music service Mdundo has surpassed 36 million monthly active users and projects over $1 million in royalties for 2025.

• Ghana has launched CitizenApp, a mobile platform enabling users to digitally interact with government services, report issues, and access public information.

• Nigerian fintech Okra has launched Nebula, a cloud infrastructure service aimed at providing affordable local alternatives to global providers.

• Standard Chartered Kenya has awarded $67,000 to seven women-led startups as part of the Women in Tech Incubation Program.

• Nigerian court denied bail for detained Binance executive Tigran Gambaryan, rejecting claims of inadequate medical care.

💸 Top Funding Rounds

• AMAKA Studio has secured $2 million in seed funding to enhance its AMAKA Gigs platform, empowering Black and African creators.

• TUNL has raised seed funding led by E4E Africa to enhance its international shipping platform for South African SMEs.

• Moroccan Proptech Agenz has secured investment from Renew Capital to enhance transparency in the African real estate market.

💰️ Notable Exits

• South Africa's Mustek has acquired a 70% stake in cybersecurity firm CyberAntix for $1.1 million, aiming to enhance its cloud, software, and security services while addressing the growing demand for cybersecurity solutions across Africa.

🏦 About Investors

• Endeavor South Africa has raised $10.88 million for its Harvest Fund III to invest in high-potential tech startups across Africa, with a focus on South Africa.

• AfricInvest's Transform Health Fund has raised $111 million to enhance healthcare innovation in Africa.

• Equator Africa has secured an additional $5 million from the IFC to support climate tech innovation in Africa.

• Bpifrance is expanding into Egypt through partnerships with Sawari Ventures and Flat6Labs to enhance support for innovative startups.

• Singapore-based XA Network has launched XA Africa to connect African tech founders with experienced investors and industry experts.

📈 Deep Dive Bites

Explore the dynamic venture capital landscape in Ghana, where key players are driving innovation and growth across various sectors. This article highlights influential firms committed to supporting SMEs, fostering sustainable development, and empowering women-led businesses. Delve into the full article to uncover the detailed profiles of these venture capital investors and their unique contributions to Ghana's burgeoning startup scene.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

AMAKA

AMAKA Studio, a digital platform focused on empowering Black and African creators, has raised $2 million in seed funding to expand its AMAKA Gigs platform. The funding round was led by Equitane, with participation from Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and angel investors. AMAKA Studio aims to drive equity in the digital economy by improving payment solutions and fostering brand collaborations for creators. The platform, which primarily amplifies the voices of African and diaspora women, enables creators to publish content, engage with audiences, and generate income through subscriptions and commissioned work.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Endeavor South Africa

Endeavor South Africa has raised $10.88 million in the initial funding round for its Harvest Fund III, surpassing its initial target of $8.59 million. The fund aims to invest in high-potential tech startups across Africa, with a focus on South Africa, to drive economic growth and job creation. This marks the beginning of a larger goal to raise $28.63 million for the development of Africa’s tech ecosystem. Harvest Fund III follows the success of Harvest Fund II, which invested $10.88 million in 17 companies since its launch in 2021. Endeavor South Africa, established in 2004, is part of the global Endeavor network, supporting scalable, high-impact entrepreneurship.

🤑 Opportunity Radar

Call for Applications: YC W25

Apply to Y Combinator's Winter 2025 Batch by November 12th, 2024, to supercharge your startup journey. Gain access to a world-class ecosystem, resources, and networking opportunities in the heart of San Francisco. The YC program is designed for founders at all stages, from those with just an idea to companies with significant traction. Begin your application process today and join the ranks of successful startups like Airbnb, Stripe, and Reddit. The batch runs from January to March 2025, featuring weekly meetups, eminent speakers from the startup world, and dedicated support from experienced YC partners. Don't miss this chance to tap into YC's $600 billion combined valuation network and receive $500,000 in funding to kickstart your company's growth.