The funding will be used to develop Anka’s digital lending platform and to increase its reach to underserved borrowers in Ivory Coast.

Founded in 2016, Anka is on a mission to provide affordable and accessible financial services to micro, small, and medium-sized enterprises (MSMEs) in Ivory Coast.

Anka’s digital lending platform allows businesses to apply for loans online and to receive funds within 24 hours.

The IFC funding will help Anka to expand its reach to more MSMEs in Ivory Coast.

The company plans to use the funding to develop its digital lending platform and to hire more staff.

Anka also plans to use the funding to research the needs of MSMEs in the Ivory Coast and develop new products and services to meet those needs.

IFC, a member of the World Bank Group, provides loans, equity, and technical assistance to private companies in developing countries.

The IFC’s investment in Anka is part of its commitment to supporting Africa’s financial sector growth.

The funding will further enhance and expand the company’s innovative agri-tech solutions, enabling increased productivity and sustainability within the agricultural sector.

The investment was in the form of grant and debt funding.

Founded in 2018, Oyster Agribusiness is on a mission to empower farmers through cutting-edge technology.

The startup has developed a range of digital tools and services that address critical challenges faced by farmers, including access to real-time weather data, crop monitoring, pest prediction, and market insights.

These solutions aim to improve crop yields, reduce losses, and ultimately increase farmers’ income.

The new investment will enable Oyster Agribusiness to accelerate its product development, expand its market reach, and further invest in research and development to refine its solutions continually.

The startup also aims to establish strategic partnerships with local agricultural organizations, cooperatives, and government agencies to foster knowledge exchange and collaborative initiatives.

As Oyster Agribusiness embarks on this exciting phase of growth, it holds the promise of transforming how farmers approach agriculture in Ghana, potentially serving as a model for innovation in agri-tech across the continent.

Ed Partners received the funding by partnering with the renowned international social impact investor.

This collaboration has been strategically designed to amplify educational opportunities for marginalized communities in Kenya and empower them through enhanced access to quality education and cutting-edge technology.

Oikocredit, distinguished for its unwavering dedication to fostering positive social and economic transformations, has established its position as a trailblazer in impact investing.

This partnership with Ed Partners is a testament to Oikocredit’s commitment to driving change within the educational sector and, by extension, the lives of individuals living in underserved communities.

Ed Partners’ focus on leveraging technology and forming strategic partnerships underscores its commitment to overcoming the multifaceted challenges faced by students in low-income areas.

The primary objective of Ed Partners is to ensure equitable access to high-quality education, effectively dismantling the barriers that often hinder educational progress.

The substantial $1.5 million investment from Oikocredit will be strategically allocated across several key initiatives, all poised to drive tangible change within the Kenyan education landscape.

A considerable portion of the funding will be dedicated to infusing technology into the learning experience.

With plans to equip schools with computers, tablets, and internet connectivity, Ed Partners envisions a future where students can seamlessly access online educational resources and platforms.

Social impact venture capital (VC) fund, The Nebula Fund, led the funding round.

The investment is set to catalyze the growth and expansion of VirtruvianMD’s cutting-edge medical technologies, with the potential to revolutionize healthcare services in South Africa and beyond.

The startup’s achievement follows a growing trend of African startups securing funding for groundbreaking initiatives.

The funding injection is expected to accelerate VitruvianMD’s efforts to address critical healthcare challenges by leveraging advanced technologies.

The company’s core focus lies in developing innovative solutions that enhance patient care, diagnostics, and medical data management.

These endeavors align with the global shift towards technology-driven healthcare solutions.

VitruvianMD’s flagship products include state-of-the-art medical devices that integrate artificial intelligence, data analytics, and user-friendly interfaces to improve patient outcomes and streamline medical processes.

As part of its expansion plans, VitruvianMD aims to further collaborate with medical institutions, research centers, and healthcare providers to integrate its technologies into existing healthcare systems.

The MedTech sector in South Africa has witnessed significant growth over the past few years, driven by a combination of factors, including an increasing demand for advanced healthcare services.

The substantial investment underscores the confidence in the continent’s burgeoning tech ecosystem and its potential to drive innovation and economic progress.

Founders Factory’s funding will be strategically distributed across a diverse portfolio of startups spanning various sectors, including fintech, health tech, agritech, edtech, and more.

This approach reflects the company’s commitment to nurturing innovation across multiple industries, focusing on harnessing technology for positive societal impact.

The significance of Founders Factory’s approach extends beyond monetary investment.

Selected startups will receive financial support and access to a network of seasoned mentors, industry experts, and successful entrepreneurs.

This comprehensive support system aims to accelerate the growth trajectory of these companies and position them as leaders in their respective fields.

“We are excited to have new and dynamic funding, which follows on from previous investments into Founders Factory Africa by Standard Bank Group, Small Foundation and Netcare Group,” Founders Factory Africa co-founder Alina Truhina said.

The Ksh.16 billion funding milestone marks a significant leap forward for Founders Factory and the African tech ecosystem, emphasizing the value of strategic investment in nurturing innovation and fostering sustainable development on the continent.

Since its inception in 2018, Founders Factory has catalyzed over 55 African tech startups.