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- Startup Researcher - Africa: Week 48, 2024
Startup Researcher - Africa: Week 48, 2024
November 25th - December 1st
Hello there,
Welcome to another edition of π Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region π
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Let's delve into the core sections of our weekly newsletter:
π° Important News
πΈ Top Funding Rounds
π°οΈ Notable Exits
π¦ About Investors
ποΈ Curated Lists
π Deep Dive Bites
ποΈ Expert Insights
π€ Diversity Spotlight
π Startup Of the Week
πΌ Investor of the Week
π€ Opportunity Radar
π° Important News
ITIDA and USAID, in partnership with Plug and Play Tech Center, launched the Aswan Bootcamp Series to empower 60 tech startups in Upper Egypt.
Orange has partnered with Meta and OpenAI to develop AI language models for translating regional African languages, starting with West Africa in 2025.
UNDP and Ethiopia's Ministry of Industry have launched the Timbuktoo ManuTech Hub in Addis Ababa to support African startups.
Morocco is preparing a draft law to regulate cryptocurrencies and explore a central bank digital currency to enhance financial inclusion.
M-KOPA, an African fintech offering pay-as-you-go asset financing, is on track to surpass a $400 million annual revenue rate.
πΈ Top Funding Rounds
Hydrobox secured $9 million in debt financing from FMO to expand its hydro-powered mini-grids in Kenya.
Sylndr, an online platform for buying and financing used cars in Egypt, secured a $7.5 million asset-backed working capital facility to support growth.
Nowlun, a digital freight forwarding platform in MENA, raised $1.7 million in seed funding led by Nama Ventures and A15 to expand its technology.
Nigerian edtech startup Lingawa raised $1.1 million in pre-seed funding to expand its platform focused on teaching and preserving African languages.
Moroccan startup PTS has raised $500,000 from BMCE Capital Investments to expand its digital payment solutions.
π°οΈ Notable Exits
Kenya-based Mawingu raised $15 million to acquire Tanzania's Habari Node and expand affordable Internet access across East Africa.
π¦ About Investors
LeapFrog Investments closed its $1.15 billion Fund IV to boost healthcare, financial services, and climate solutions in growth markets.
Arab African International Bank raised $500 million through a sustainability bond to support Egyptβs green and energy-efficient projects.
ποΈ Curated Lists
Discover the dynamic forces propelling Kenya's burgeoning startup scene. Uncover the most active Startup Investors, their activity, leadership, and strategic investments. Dive into the full article to explore these influential players, gaining valuable insights into the opportunities shaping Kenya's entrepreneurial landscape.
π Startup Of the Week
Introducing our Startup of the Week π
Hydrobox
Kenyan energy startup Hydrobox, founded in 2018 by Muhammad Ali Falak and Thomas Poelmans, has secured $9 million in debt financing from FMO, the Dutch entrepreneurial development bank, to scale its hydro-powered mini-grids across Kenya. The funding will support the development of eight IoT-powered mini-grids, providing sustainable, affordable energy to underserved rural communities. Hydroboxβs innovative approach optimizes energy performance and reliability, powering over 10,000 homes and small businesses. With a focus on scalability and alignment with Kenya's Vision 2030 renewable energy goals, Hydrobox aims to expand its impact on energy access in Africa.
πΌ Investor of the Week
Introducing our Investor of the Week π
Leapfrog Investments
LeapFrog Investments, founded in 2008 by Andrew Kuper, has closed its fourth fund with $1.15 billion in commitments, comprising $808 million in primary commitments and $210 million in pre-allocated co-investments. The fund is backed by major investors such as Temasek, AIA, Prudential Financial, and the European Investment Bank, alongside new investors from markets like Singapore, China, and Japan. Focused on healthcare, financial services, and climate solutions, Fund IV aims to support 100 million underserved consumers and producers. A key portfolio company, Sun King, has already impacted 118 million people in Africa by providing solar energy and reducing reliance on costly, polluting fuels.
π€ Opportunity Radar
Apply for the Action for Women's Health open call and secure funding to enhance women's mental and physical health globally. With a total fund of $250 million, selected organizations will receive flexible funding ranging from $1 million to $5 million. This initiative is designed for organizations focused on serving women and improving health outcomes while centering equity in their approach. To participate, complete the Organizational Readiness Tool and familiarize yourself with the Open Call Rules. Interested organizations must register to apply before December 3, 2024. Complete applications are due before January 10, 2025.
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If you're interested in staying updated on the latest trends, startups, and investments in other regions, don't miss out on:
ποΈ Startup Researcher - Asia Pacific: Discover the latest innovations and startups in the Asia Pacific region, covering key markets, investment movements, and emerging tech hubs.
π Startup Researcher - Europe: Stay updated on Europe's innovation scene, featuring insights into groundbreaking startups, investment trends, and entrepreneurial developments.
ποΈ Startup Researcher - Latin America: Keep track of Latin America's fast-growing startups, investment trends, and disruptive technologies driving economic growth.
π Startup Researcher - Middle East: Explore the dynamic landscape of the Middle East, with comprehensive coverage of startups, entrepreneurial endeavors, and venture capital trends.
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