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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

• Kenya-based Mobius Motors entered voluntary liquidation after failing to overcome financial challenges and competition from imported vehicles despite having raised over $56 million in funding.

• AfriLabs, the largest pan-African network of innovation hubs, has joined the ITU Development Sector as a member, a UN agency that focuses on advancing global cooperation and equitable access to telecommunications and information technologies.

• Medium is expanding its Partner Program to include writers from 75 new countries, including 20 African nations, allowing them to earn money based on reader engagement.

• As reported by Techcabal, South African solar company Hohm Energy, which raised $8 million in seed funding earlier this year, has entered business rescue due to cash flow issues and debt servicing problems, laying off an undisclosed number of employees while undergoing a three-month rescue process.

• Kenyan startups BuuPass, a platform for transportation, and mTek, a top insurance provider, have partnered to improve the travel experience by integrating comprehensive trip insurance.

💸 Top Funding Rounds

• Egypt-based fintech Lucky ONE has secured $3 million in convertible notes from Lorax Capital Partners, KEM, DisrupTech Ventures, and other investors.

• Egyptian fintech Qardy has raised a seven-figure pre-seed round led by White Field Ventures and Vastly Valuable Ventures, along with other angel investors.

💰️ Notable Exits

• Nigerian startup Sendsprint has acquired US-based Nobel Financial to expand its transfer services into 16 American states and strengthen regulatory compliance.

🏦 About Investors

• Founders Factory Africa has rebranded to 54 Collective, evolving from an accelerator into a venture capital firm with a $40M fund to support early-stage startups across all 54 African countries.

📈 Deep Dive Bites

Explore Tunisia's thriving startup ecosystem through the lens of its 10 most active investors. From local venture capital firms to regional powerhouses, discover how these key players are fueling innovation across sectors and growth stages. Delve into the full article to uncover insights on each investor.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Lucky ONE

Lucky ONE, established in 2018, is a leading Egyptian fintech company focused on improving financial access for underbanked consumers through services like cashback rewards, discounts, and credit products. The company has recently secured a $3 million investment in convertible notes from a group of investors including Lorax Capital Partners, KEM, and DisrupTech Ventures. This funding is expected to support Lucky ONE's mission of enhancing financial flexibility and accessibility in the Middle East and North Africa region.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

54 Collective

54 Collective, formerly Founders Factory Africa, has rebranded as a standalone venture capital firm with a $40 million fund targeting early-stage startups across Africa. Launched in Johannesburg in 2018 as part of the global Founders Factory network, it initially partnered with Standard Bank, Netcare, and Small Foundation to support e-health and agri-tech ventures. Now independent, 54 Collective combines catalytic capital with comprehensive support, offering up to $500,000 in equity and non-dilutive capital. A year ago, the firm secured an additional $114 million from Mastercard Foundation and Johnson & Johnson to foster innovation and economic growth across Africa.

🤑 Opportunity Radar

SAIS Investment Readiness Programme 2025

Apply to the SAIS Investment Readiness Programme 2025, designed for African tech startups in agriculture, livestock, food, and climate sectors. This year-long program offers personalized mentorship, coaching, and services worth up to €35,000, including legal advice, digital optimization, and training on pitch preparation and growth strategy. Eligible startups must be registered in Africa, have a minimum viable product, and demonstrate traction. Don’t miss the chance to scale your business and increase your impact—apply by September 2, 2024, to join this transformative program.