- Birdnest, a proptech startup based in Egypt, has raised an undisclosed sum of money to help it penetrate new markets and grow its existing presence in Egypt. Beltone Venture Capital and CI Venture Capital were among the investors who contributed to the startup’s pre-Series A round of funding. The…
- Bosso, a Zambian startup that offers innovative construction e-commerce solutions to the African building and construction industry, has raised US$400,000 in its pre-seed round of funding. The largest online marketplace for building materials in Zambia, Bosso was founded in 2022 by Chisepo Chirwa…
- AWS Wavelength will be available in Morocco and Senegal later this year, according to plans announced by Orange Middle East & Africa (OMEA) and Amazon Web Services, Inc. (AWS). This will allow businesses, government agencies, and startups to safely process and store data locally, use AWS…
- Amethis Fund III, a pan-African fund that offers private equity growth capital to medium-sized businesses on the continent, has received a €25 million investment from the European Investment Bank’s EIB Global division. Companies that provide goods and services to low- and middle-income populations…
- Safaricom Ethiopia, a telco operator, has announced that it has received the first batch of 13 locally produced telecom towers from Woda plc, the country’s first local firm to manufacture network towers, to upgrade and expand its network infrastructure. The telecom provider claims that Woda will…
- The construction of Nigeria’s transport, water, sanitation, and energy and power infrastructure has received $1.44 billion in funding from the African Development Bank. This was revealed by Director General Lamin Barrow of the Bank’s Nigeria Country Department during the Nasarawa Investment Summit…
- Microsoft South Africa and the Department of Trade, Industry, and Competition (DTIC) have reached a 10-year deal for Microsoft to invest R1.3 billion ($70 million) in the South African economy. Microsoft states that the money will be used to support the growth of small, micro, and medium-sized…
- Helios Towers is a telecommunications infrastructure provider that operates across Africa. With towers at more than 14,000 sites, they provide service to more than 144 million people. Among the nine nations in which it conducts business are Tanzania, Ghana, the Republic of Congo (Congo Brazzaville…
- Orca, a South African startup, has raised $550,000 in a pre-seed round. The startup collaborates with emerging market banks and fintechs to combat all kinds of fraud. Norrsken22 led the round, in which First Circle Capital, Musha Ventures, Kara Ventures, many key business angels, and family and…
- OneOrder, an Egyptian startup that provides tech-enabled wholesale distribution and suppliers to the food and beverage industry, has raised a US$16 million Series A debt and equity round of funding and plans to expand into the Gulf Cooperation Council (GCC). Former backer Delivery Hero Ventures led…
- Collaborating with the Ministry of Information, Communications and the Digital Economy of the Republic of Kenya, Microsoft and G42 have unveiled several digital investments in the country. G42 will lead the effort to get a one billion dollar seed investment for the comprehensive package’s various…
- As Africa faces increasing environmental challenges such as climate change, deforestation, and pollution, green innovation emerges as a critical solution to mitigate these issues while fostering sustainable development. This article explores innovative initiatives and technologies that offer…
- Microsoft wrapped up its annual developer conference, Build 2024, by presenting Copilot+ PCs powered by Snapdragon X Elite/Plus CPUs. Satya Nadella, the CEO of Microsoft, said that technology should not be celebrated in and of itself but rather used to make people’s lives better. During the…
- OpenseedVC, a new operator-led fund, officially launched and announced the first closure of its $10 million angel-style early-stage fund. The fund aims to be the first investor in seasoned operators establishing their technology startups across Africa and Europe. The fund, supported by LPs…
- Accion, a global non-profit organization, has launched the US$152.5 million Accion Digital Transformation Fund (ADTx), which aims to help financial institutions meet the needs of small businesses that are currently excluded from the financial system by providing growth capital and strategic support…
- Maad, a Senegalese logistics platform for informal retailers, received US$3.2 million in seed funding to expand domestically and globally while also launching new products. Ventures Platform led the round of seed funding, which included debt and equity. Seedstars International Ventures, Reflect…
- Axmed, an innovative two-sided B2B marketplace platform, has announced a $2 million seed funding round, marking a significant step forward in tackling global health disparities. Founderful Ventures led the funding round, which brings the total amount secured to $7 million. The funding is in…
- MNZL, an Egyptian fintech startup, has acquired $3.5 million in seed capital to improve its technology and scale operations to empower more Egyptians. P1 Ventures, Localglobe, and Ingressive Capital spearheaded the seed round of fundraising, which also included 500 Global, Flat6Labs, First Circle…
- Swypex, an Egyptian startup, has announced the debut of its all-in-one financial services platform for businesses, following a $4 million seed investment round. Leading the seed funding round was the international venture capital firm Accel, which is investing in fintech for the first time in the…
- Adumo, a South African fintech company, has been bought by Lesaka for ZAR1.59 billion (US$85.9 million), subject to shareholder and regulatory approvals. With over 23,000 active merchants, Adumo is the largest independent payments processor in South Africa, helping them with tasks including card…
- Apple recently unveiled revised models of its iPad Air and iPad Pro tablets. Since the iPad’s 2011 launch, Apple has not released new models until October 2022, which is the longest period between updates. In a brief video that was uploaded on the company’s website, Apple CEO Tim Cooksaid, “This is…
- Seamfix, a global provider of digital identity solutions, has raised $4.5 million in a private equity funding round from Alitheia IDF, a gender lens investing fund, to expand the technology infrastructure supporting its solutions, enhance data flow that is essential for continental trade and…
- Google for Startups Accelerator Africa is now accepting applications for its eighth cohort. This year’s programme will highlight startups in Africa that are using AI and ML to solve pressing problems and open up opportunities to new opportunities. A three-month virtual programme called Google for…
- Amazon has officially launched its online shopping service in South Africa. The company’s service launch coincides with a spike in online sales in South Africa as a result of the pandemic’s opening up of opportunities for e-commerce to finally take off and merchants’ subsequent increases in…
- The rise of fintech in Africa is an exciting trend that has the potential to revolutionize the continent’s financial landscape. Fintech, short for financial technology, refers to the use of technology to provide financial services and products more efficiently and effectively. In Africa, where…
- The Intel Community Reach Programme was launched by AfriLabs, Intel Corporation, and Prosper Africa to use artificial intelligence (AI) and broadband access to address important socioeconomic issues in underprivileged African communities. Through the Intel Community Reach Programme, communities…
- Renda has raised $1.9 million in equity and debt financing to complete its pre-seed round. Lead investor Ingressive Capital contributed $1.3 million in equity, with participation from Techstars Toronto, Founders Factory Africa, Magic Fund, Golden Palm Investments, Reflect Ventures, and Vastly…
- Venture for Africa, a talent network and the continent’s premier source of top tech startup recruits, has teamed up with Africa Product Peers, a community for African professionals in product, design, and technology professions, to establish a career bootcamp for mid-level professionals in Africa.…
- BuuPass, a Kenyan mobility startup, has bought QuickBus in an effort to expand in Nigeria and South Africa. BuuPass is a B2B2C travel marketplace that was founded in 2016 and allows users to search, compare, and book tickets by USSD, mobile app, or web. The startup has raised over US$100 million in…
- Chowdeck, a leading on-demand delivery service in Nigeria, has raised $2.5 million in seed capital to help improve operations and expand to more locations in the country. YCombinator, Goodwater Capital, FounderX Ventures, Hoaq Fund, Levare Ventures, True Culture Funds, and Haleakala Ventures were…
- NBA Africa is now accepting applications for Triple-Double, an accelerator program designed to give financial awards and other forms of support to early-stage African start-ups. Triple-Double, run by tech incubator ALX Ventures, targets early-stage African businesses creating products in the areas…
- Farm to Feed, a Kenyan agri-tech startup, has received an undisclosed sum of funding from Renew Capital to assist it in scaling up its operations. Farm to Feed has established a business-to-business platform that connects leftover products with new purposes. Farm to Feed was founded in 2020 to…
- Standard Chartered has announced that it has joined Visa B2B Connect, a multilateral payment network that allows its business clients to make cross-border payments between their accounts more quickly and easily. With a focus on enabling quicker and more affordable cross-border business-to-business…
- Kubik, an innovative sustainable technology firm based in Africa, has announced the successful completion of its $5.2 million seed funding round. With the seed round, Kubik became the first business in Ethiopia to raise millions of dollars for solutions related to sustainability and the climate.…
- Waffarha, an Egyptian group-buying business, has received a seed round of funding in the seven figures. The funds will be used to enhance the company’s technology, recruit top people, and expand its reach beyond Saudi Arabia. Waffarha is a group-buying website and mobile app that was founded in…
- Bokra, a fintech company based in Cairo, has successfully closed a $4.6 million pre-seed funding round led by DisrupTech Ventures and SS Capital, along with other investors. As the first platform in the MENA region to offer goal-based investment and saving products through asset-backed securities,…
- Home Grown Solutions Accelerator for Pandemic Resilience, a programme run by AUDA-NEPAD, is accepting applications from healthcare businesses in Africa for its fourth cohort. According to the objectives of Agenda 2063 and the African Union’s Energise Africa Initiative, the Home Grown Solutions (HGS…
- Spatialedge, a South African startup providing data and applied artificial intelligence (AI) solutions, has raised ZAR60 million (US$3.1 million) to further its goal of revolutionising the retail sector. Spatialedge is a big data and applied machine learning solutions firm that was founded in…
- TLcom Capital, a venture capital firm with a focus on Africa, has announced the completion of TIDE Africa Fund II, a $154 million fund established to support seed and Series A startups on the continent. For its second fund, the company had originally aimed to raise $150 million, but it surpassed…
- Apple has deleted Threads and WhatsApp from its Chinese app store in response to a directive from the nation’s internet watchdog, which raised issues related to national security. “We are obligated to follow the laws in the countries where we operate, even when we disagree,” an Apple spokesperson…
- The renowned tech conference Africa Tech Summit (ATS) London, which promotes trade and investment opportunities throughout the continent, will hold its eighth edition at the London Stock Exchange on June 7, 2024. Over 300 African and international tech executives, policymakers, investors,…
- Pula, an agricultural insurance and tech startup, has announced the closing of a $20 million series B funding round. The funding will go towards providing insurance to thousands of smallholder farmers in developing countries who would otherwise be unable to afford it in the case of natural…
- The Mastercard Foundation Fund for Resilience and Prosperity is looking for small and medium-sized enterprises (SMEs) and entrepreneurs in the agriculture sector. The fund will allow selected businesses to receive grants ranging from $500,000 to $2.5 million, which will be distributed over a period…
- Smart cities are emerging as a key solution to address the rapid urbanization and infrastructure challenges facing African cities. These cities leverage technology, data, and innovation to improve efficiency, sustainability, and quality of life for residents. Here are some aspects of building the…
- SunCulture, a Kenyan climate tech startup, has secured $12 million to expand its solar irrigation solution in Sub-Saharan Africa and reach hundreds of thousands of smallholder farmers with Internet-of-Things (IoT)-enabled solar-powered irrigation by 2030. The historic collaboration between InfraCo…
- The Global Startup Awards Africa is now accepting applications from African innovators, startups, and ecosystem facilitators who are committed to addressing major global concerns. African startups operating in the e-health, agri-tech, fintech, mobility and logistics, green-tech, and women in tech…
- Zeepay, a Ghanaian fintech startup, has completed a round of equity funding to support its plans to expand throughout Africa and the Caribbean. Zeepay has now obtained additional financing from pan-African investment groups Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and I&P,…
- Google has announced that all Google Photos users will have free access to a number of its generative AI-powered picture editing tools. Among the AI capabilities available in Google Photos are Magic Eraser, which eliminates undesired objects from images, Photo Unblur, which sharpens out-of-focus…
- Verod-Kepple Africa Ventures (“VKAV”) has closed its first fund of $60 million. SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, and Japan ICT Fund are among the fund’s major institutional investors. Additionally, a few more institutional…
- The Africa Tech Startup Forum, a market access and accelerator programme created to prepare, teach, expose, and connect tech startups with opportunities is now accepting applications. The Africa Tech Startup Forum, supported by the African Development Bank’s (AfDB) Innovation and Entrepreneurship…
