Category: New Investments

PowerLabs, a Nigerian energy and climate technology startup, has raised pre-seed funding in a round led by venture firm Breega, with additional backing from Catalyst Fund, Mercy Corps Ventures, and Kaleo Ventures.

South Africa-founded startup, Refiant AI, has secured $5 million in seed funding as it looks to reshape how artificial intelligence systems are built and deployed.

Endeavor South Africa has secured R230 million (approximately $13.6 million) for its third Harvest Fund aimed at supporting fast-growing technology companies in the country.

Egyptian fintech startup Lucky has secured $23 million in fresh funding as it accelerates its push to expand credit services and enter new markets across North Africa.

Oikocredit has joined forces with the Global Climate Partnership Fund (GCPF) to extend a $10 million debt facility to Sawa Energy, a fast-growing provider of solar and battery systems for businesses in East Africa.

The African Development Bank (AfDB) has committed $15 million to a private equity fund managed by SPE Capital, in a move aimed at expanding financing for growing businesses across the continent.

Savannah Impact Advisory has announced the first close of its Ci Gaba Fund of Funds, securing GHS 383 million (approximately $35 million) in commitments.

Novastar Ventures has secured $147 million for its third investment vehicle, marking a significant step in financing African startups focused on climate and inclusive growth.

The African Development Bank Group has committed €7.5 million to the Breega Africa Seed I Fund, strengthening efforts to finance early-stage technology startups across the continent.