This funding brings Aya Data’s total investment to $1.15 million, following a previous raise of $255,000 from investors such as Microtraction, Savannah Fund, and Scott Bell.

The company, founded in 2021 by Freddie Monk and Larbi-Siaw, specializes in data collection and annotation services, which are critical for the development of large language models (LLMs) like ChatGPT and Gemini.

With this fresh funding, Aya Data plans to expand its two flagship products: AyaGrow, an AI-powered precision agriculture tool, and AyaSpeech, a speech-to-speech solution enabling communication in local African languages.

Aya Data’s funding round consists of a mix of equity and debt, and part of the investment will be used to hire new talent to enhance its workforce.

The startup has already gained global recognition, working with notable clients such as MIT, Nvidia, Seedtag, and Unilever.

Aya Data reported $500,000 in revenue in 2023, attributed to its growing client base and expanding service offerings.

AyaGrow aims to assist smallholder and commercial farmers by providing AI-powered monitoring for crops and fields, while AyaSpeech offers businesses and governments the ability to interact with citizens using local languages.

Aya Data’s innovative approach is placing it at the forefront of Africa’s AI ecosystem, addressing key challenges in sectors like agriculture and communication.

Co-founder and COO, Larbi-Siaw, emphasized the company’s mission:

“We are dedicated to building local expertise that can leverage AI to tackle the continent’s most pressing challenges.”

According to Marketing and Strategy Officer Gillian Hammah, the startup is focused on helping African businesses adopt AI technologies to boost their competitiveness.

Hammah highlighted Aya Data’s commitment to supporting local enterprises while continuing to collaborate with international partners.

This strategic move comes at a time when the country is grappling with rising energy costs and an ongoing electricity crisis, exacerbated by Eskom’s proposed tariff increases, which could rise by up to 43.55% by mid-2025.

In April 2024, Eskom already implemented a 13% price hike, further escalating the pressure on both businesses and consumers.

To combat these rising costs, Grid Africa plans to develop solar energy solutions aimed at reducing dependency on the national grid.

According to Norman Moyo, CEO of Grid Africa, the current energy landscape presents a unique opportunity for businesses to adopt solar energy projects as a cost-saving measure.

“Recent changes in energy security in South Africa present a unique opportunity for businesses to deploy more solar energy projects, providing a buffer against escalating energy prices,” Moyo stated.

He also noted that with the declining costs of solar technology and lithium batteries, Grid Africa can offer more energy-efficient solutions, including peak shaving, which allows clients to avoid costly peak charges.

Founded in 2015, Grid Africa has played a key role in advancing renewable energy solutions across the continent.

The company has successfully developed hybrid energy projects in countries like Zimbabwe, Kenya, and Ivory Coast, showcasing its ability to operate in challenging environments.

Recently, it expanded into Zambia, a country facing frequent power outages, further emphasizing its commitment to providing reliable energy solutions across the region.

AfricInvest will provide $2.5 million in financing, while Proparco, through its Bridge by Digital Africa facility, will contribute EUR 450,000 (approximately $490,278).

This funding aims to enhance access to optical care in Africa, where the World Health Organization (WHO) estimates that 80% of visually impaired individuals do not receive proper treatment.

With this financial boost, Lapaire plans to strengthen its presence in the countries it already serves and expand its operations to new markets, including Senegal, the Democratic Republic of Congo, and Tanzania.

The investment comes just nine months after the startup raised $3 million for its previous expansion efforts across the continent.

Founded in 2018 by Swiss entrepreneur Jérôme Lapaire, the company has established itself as a key player in providing affordable eyewear in West and East Africa.

Lapaire operates over 80 optical stores in countries such as Ivory Coast, Benin, Togo, Mali, Burkina Faso, and Uganda.

It offers free eye tests and flexible payment options to make essential eye care more accessible to low- and middle-income populations.

The need for optical care in Africa is pressing. According to the WHO, one in six blind people globally resides in Africa, alongside 26 million individuals with varying levels of visual impairment.

Despite this, only 14% of those in need of cataract surgery receive treatment, and over 80% of individuals with short-sightedness go untreated.

Jérôme Lapaire highlighted the importance of the financial and technical support from AfricInvest and Proparco in expanding the startup’s optical network, with the goal of improving the lives of one million people by 2026.

Faisal Jiwa, Senior Partner at AfricInvest, expressed pride in supporting Lapaire through the Transform Health Fund, which is dedicated to making healthcare services more accessible and affordable for underserved populations in Africa.

AfricInvest’s Transform Health Fund, which raised $111 million in October 2024, focuses on scaling innovative healthcare models that provide affordable services to vulnerable communities across the continent.

The funding round was led by Blockchain Capital, with participation from notable investors such as Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.

This latest round brings Yellow Card’s total funding to $88 million.

The company previously raised $15 million in a Series A round in 2021, followed by $40 million in a Series B round in 2023.

The newly acquired funds will be used to further develop Yellow Card’s API and widget products, which act as gateways for international businesses, including Coinbase and Block, to enter African markets.

Additionally, Pan-African companies will benefit from these products by enabling international payments and treasury management using stablecoins.

Yellow Card has also announced its plans to introduce innovative new products, strengthen its team, enhance its systems, and maintain its leadership in regulatory engagement across Africa.

The company has a proven track record of establishing partnerships that strengthen its service offerings.

In January 2024, Yellow Card partnered with Coinbase, a major cryptocurrency exchange based in the United States, to provide easy access to USDC and digital assets across 20 African countries.

This integration allows Coinbase wallet users in Africa to make payments in their local currency via local bank transfers and mobile money, providing a seamless customer experience and streamlined KYC processes.

Founded in Nigeria in 2019, Yellow Card has expanded its operations to 20 countries and has facilitated over $3 billion in transactions across the continent.

The fintech company is recognized as Africa’s largest licensed stablecoin on-ramp/off-ramp, offering businesses secure and cost-effective methods to buy and sell stablecoins like USDT, USDC, and PYUSD through its local currency and Payments API.

In 2022, Yellow Card became the first cryptocurrency company in Africa to be granted a Virtual Asset Service Provider license in Botswana.

The technology permanently stores CO2 in geological formations, setting it apart from traditional carbon capture methods, which focus on emissions at their source.

Founded in 2022, Octavia Carbon is building and deploying DAC machines in Kenya, positioning the country to become the most cost-effective hub for CO2 removal by 2025.

The company’s pilot project, known as Project Hummingbird, will launch by the end of 2024, marking a significant milestone in its journey toward scalable carbon removal solutions.

The $5 million seed round was co-led by African venture capital firms Lateral Frontiers and E4E Africa, with additional contributions from Catalyst Fund, Launch Africa Ventures, Fondation Botnar, and Renew Capital.

Octavia Carbon also secured $1.1 million in non-dilutive carbon finance, underscoring the growing market demand for its carbon credits.

Martin Freimüller, co-founder and CEO of Octavia Carbon, highlighted the significance of the funding, stating:

“This allows us to soon become the world’s second DAC company to complete the full cycle of deploying both CO2 capture and geological storage.”

Samakab Hashi, general partner at Lateral Frontiers, praised Octavia Carbon’s impact, saying:

“Their groundbreaking technology is revolutionizing economic development in Africa, proving that Africans are at the forefront of building a sustainable future.”

The round was led by venture capital firm 500 Global, alongside Untapped Global, known for its expertise in smart asset financing, with participation from a number of local and international angel investors.

This funding marks a key milestone for Rabbit Mobility, aligning with its goal of promoting sustainable urban mobility solutions.
The startup’s mission centers on providing eco-friendly transportation options designed to reduce traffic congestion and environmental pollution in Egypt’s densely populated cities.

Founded in 2020 by Kamal ElSoueni (CEO), Mohamed Mansoury, and Bassem Magued, Rabbit Mobility offers electric scooters and bikes as a cleaner, more convenient alternative for urban commuters.

ElSoueni emphasized the importance of the investment, stating, “It will enable us to scale our growth, expand our fleet, and enhance the user experience, making micromobility more accessible across Egypt.”

Since its launch, Rabbit Mobility has achieved notable success, completing over one million rides and growing its user base to 400,000 within the past five months.

The company also introduced its locally assembled Gen 2 scooters, and more recently, it has tripled the size of its fleet, reflecting the rising demand for micromobility solutions in Egypt.

With this latest investment, Rabbit Mobility aims to further strengthen its position in Egypt’s micromobility market and extend its reach into other North African countries.

The funds will be used to expand the availability of its electric scooters and bikes, addressing urban transport challenges while contributing to a greener future.

David Kleiterp, Co-Head of Investments at Untapped Global, expressed confidence in Rabbit Mobility’s ability to continue scaling and growing sustainably, highlighting the potential for the startup to achieve profitability by the end of 2024.