Day: March 13, 2024

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Flat6Labs and Organon Partner for Second Women’s Health Tech Incubator in MENA

Key Developments

Flat6Labs and Organon Partner for Second Women's Health Tech Incubator in MENA

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Flat6Labs, a leading seed-stage venture capital firm in the Middle East and North Africa (MENA) region, and Organon, a global healthcare company devoted to women’s health, have joined forces to launch the second cycle of the Women’s Health Accelerator Program.

This initiative seeks to empower digital health startups that develop solutions to improve women’s health across the MENA region.

The program will prioritize three crucial areas: family planning, fertility planning, and women’s overall well-being.

It aims to tackle specific health challenges faced by women in the region by fostering the development of long-lasting, sustainable solutions.

The program plans to support the growth of 15 selected startups. This will involve engaging various stakeholders and equipping the ventures with the tools and resources necessary for a successful launch.

Flat6Labs and Organon will also host a combination of virtual and in-person community events, including information sessions, roadshows, pitch contests, and webinars.

These events aim to broaden outreach, identify promising startups, and facilitate a strong selection process.

Aspiring startups can apply for the program until May 16th.

Link – https://www.flat6labs.com/program/womens-health-accelerator-program/

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South African Satellite Tech Company Simera Sense Secures $14.5 Million Funding For Growth

New Investments

South African Satellite Tech Company Simera Sense Secures $14.5 Million Funding For Growth

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Simera Sense, a leading provider of optical solutions for Earth observation satellites, has secured €13.5 million (US$14.75 million) in a growth funding round.
 
This investment, led by NewSpace Capital and Knife Capital, will fuel the company’s expansion plans. Simera Sense aims to establish additional production facilities in Europe, potentially multiplying output by five.

The funding will also be invested in developing new offerings to cater to growing customer needs and enhancing efficiency to deliver products faster.

Simera Sense, founded in 2018, offers a range of high-resolution cameras used in the global small satellite industry.
 
The company boasts an active European presence, collaborating with key players like AAC Clyde Space, Open Cosmos, and the European Space Agency.

“This funding is a crucial step in addressing the increasing demand for our solutions,” said Johann du Toit, CEO of Simera Sense.
 
“We are excited to expand our production capacity, bring innovative technologies to market faster, and solidify our position as a leader in the Earth observation sector.”

Simera Sense’s growth trajectory reflects the booming Earth observation market, expected to reach $20.73 billion by 2029.
 
This investment positions the company to capitalize on this potential and deliver advanced satellite imaging solutions.

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FSD Africa’s Bimalab Africa Insurtech Accelerator Program Gets $600,000 For Africa Expansion

New Investments

FSD Africa's Bimalab Africa Insurtech Accelerator Program Gets $600,000 For Africa Expansion

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The Bimalab Africa Insurtech Accelerator Program has secured a significant funding boost of $600,000 from the Swiss Re Foundation.
 

This investment will fuel the program’s expansion into five additional African countries: Tanzania, Tunisia, Senegal, Zambia, Malawi, and Somalia.

Previously operating in 10 countries, Bimalab’s reach will now encompass 15 nations across the continent by 2025. This growth is anticipated with the continued support from the Swiss Re Foundation.

Launched in Kenya by FSD Africa in 2020, Bimalab offers practical assistance to insurtech startups.

These ventures focus on developing sustainable solutions for underserved communities and businesses particularly vulnerable to climate-related challenges.

The program fosters a collaborative environment where stakeholders like insurance innovators, technology partners, established insurance firms, investors, and regulatory bodies can work together.

“Bimalab Africa is creating an insurtech ecosystem that empowers startups to reach previously underserved markets,” said Elias Omondi, Bimalab Africa Programme Lead.

“This expansion will enable us to have a wider impact and contribute to a more resilient Africa.”

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