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

• 📋️ Curated Lists

• 📈 Deep Dive Bites

• 🎙️ Expert Insights

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• The Egyptian government announced plans to increase investment in its entrepreneurship sector from $500 million to $5 billion to foster innovation.

• Google has revealed the six startups selected for its 2024 Google for Startups Accelerator Africa program.

• Orange's Social Venture Prize has awarded top prizes to SAVEY, WeFix, and Cocoa Shield while highlighting ventures like MyTindy and Intella.

• Moniepoint, a Nigerian fintech unicorn, is working to secure a commercial banking license to expand its retail banking operations.

• Nigerian digital bank Carbon will resume card issuance this month after a six-month pause, introducing a refined delivery system.

💸 Top Funding Rounds

• Egyptian Efreshli raised an undisclosed seed round led by Algebra Ventures to enhance its offerings and expand its product line.

• Teraco has raised a $440 million loan to build JB7, a 40MW hyperscale data center at its Isando Campus.

🏦 About Investors

• Bootstrap Europe, a $270 million growth debt fund providing founder-friendly financing, is launching an African franchise to support startups.

• Orange Egypt has committed $52.7 million to support youth-driven startups across Africa, with a major focus on Egyptian ventures.

• The British International Investment has committed $16 million to the Africa Go Green Fund, raising the fund's total to over $166 million.

• iHub has opened a new Nairobi HQ offering enhanced facilities and strategic support for startups and creatives while expanding Pan-African operations.

📋️ Curated Lists

Discover Ghana's dynamic startup ecosystem, fueled by innovative hubs and accelerators that are propelling growth across agriculture, tech, and clean energy. From climate-smart solutions at the Ghana Climate Innovation Centre to youth empowerment programs like the Kosmos Innovation Center, these organizations provide entrepreneurs with the mentorship, training, and funding needed to scale impactful businesses. Delve into the full article to explore how these hubs are shaping Ghana's future and fostering a sustainable, tech-driven economy.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Efreshli

Efreshli, an Egypt-based interior design startup founded in 2019 by Heba El Gabaly, has secured an undisclosed seed funding round led by Algebra Ventures, with participation from 500 Startups, Dar Ventures, and angel investors. The company, which specializes in a virtual decor tool that helps customers visualize room setups before purchasing, plans to use the funding to enhance its offerings and expand its product line. Efreshli provides a seamless home shopping experience by showcasing thousands of products from over 150 top Egyptian brands. Previously, in 2021, the startup raised $550,000 in a seed round led by angel investor Tarek Sakr and property developer Marakez.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Bootstrap Europe

Bootstrap Europe, a Luxembourg-based growth debt fund founded in 2015 by Fatou Diagne and Stephanie Heller, is expanding to Africa to support early-stage startups in sectors like fintech, e-health, and logistics. The $270 million fund, which provides founder-friendly financing as an alternative to equity dilution, has already facilitated over $1 billion in loans to 300 European businesses. Its diverse investor base includes the European Investment Fund, British Business Investment, and the Visa Foundation. Bootstrap Europe's African franchise aims to enhance access to debt funding for scalable startups across the continent.

🤑 Opportunity Radar

Call for Applications: Tech4Farmers

Apply to the Tech4Farmers incubation program by 8th December 2024 and take your Agritech innovation to the next level. This 12-month program, in partnership with IMPACT Lab, offers tailored coaching, expert networks, and access to funding, helping you develop and market solutions that address key agricultural challenges in Morocco. Whether you're focused on climate adaptation, yield improvement, or product transformation, Tech4Farmers provides the resources and support needed to scale your prototype and engage with industry leaders. Don’t miss this opportunity to make a lasting impact in the Moroccan agriculture sector—apply now!