This strategic partnership aims to expand access to efficient cold storage infrastructure across the continent, tackling food waste and empowering rural communities.

Only 5% of African fresh produce enters the cold chain compared to Europe’s 94%. This stark disparity results in devastating losses – 30-50% of food spoils before reaching consumers.

InspiraFarms Cooling has stepped in with its innovative precooling and cold chain technology, tailored for African markets. From cold rooms and pre-coolers to packhouses and long-term storage facilities, their solutions offer:

• Reduced food loss: Extending shelf life and minimizing spoilage.
• Lower energy costs: Utilizing renewable energy options for sustainable operation.
• Market access: Equipping producers to meet stringent export standards.
  Economic empowerment: Generating high-quality rural jobs and boosting incomes.
• Beyond Profit: CEI Africa’s investment recognizes InspiraFarms Cooling’s commitment to both economic and environmental impact. Their solutions not only combat food waste but also:
• Reduce greenhouse gas emissions: Food loss accounts for 3.7% of global GHGs, and minimizing it plays a crucial role in climate change mitigation.
  – Promote renewable energy: Their designs prioritize compatibility with clean energy sources.

InspiraFarms Cooling’s journey embodies the potential of technology to drive positive change.

With CEI Africa’s backing, they are poised to revolutionize Africa’s cold chain landscape, ensuring a future where food loss is minimized, rural communities thrive, and sustainability reigns supreme.

This capital injection will enable the company to empower more small-scale farmers with the tools and resources they need to increase their profits, adopt sustainable practices, and boost food security.

Apollo Agriculture leverages cutting-edge technologies like machine learning and automation to address the unique challenges faced by smallholder farmers.

Their platform provides access to top-quality farm inputs, optimized financing and digital advice.

Since its inception, Apollo Agriculture has already made a significant impact, reaching over 350,000 farmers in Kenya and Zambia.

The new investment will allow the company to expand its reach further within Kenya, empowering even more farmers with the digital tools and financial resources they need to thrive.

The funding will not only enhance productivity and profitability but also play a crucial role in promoting sustainable farming practices.

By equipping farmers with the knowledge and resources to adapt to climate change, Apollo Agriculture is contributing to long-term food security across the continent.

Eli Pollak, CEO of Apollo Agriculture, expressed his enthusiasm about the collaboration, stating:

“This partnership with Swedfund and ImpactConnect is a significant milestone for Apollo Agriculture. The investment positions us to rapidly scale our operations, enabling more farmers to access the essential products and financial services they need to feed their families and communities and adapt to climate change.”

“This funding unlocks the potential to serve 400,000 additional farmers during the loan’s term, accelerating Apollo’s growth. We are grateful for the trust and confidence that both Swedfund and ImpactConnect have placed in our vision, and we look forward to achieving transformative growth together.”

The investment round was led by prominent regional investors Shorooq Partners and Algebra Ventures, with participation from existing backer Dubai Future District Fund.

This fresh capital injection will fuel DXwand’s research and development efforts in key areas like knowledge mining, generative AI, and omnichannel conversational AI.

The company’s AI-powered software automates text and voice interactions between businesses, employees, customers, and even government services, available across platforms like call centers, social media, SMS, and websites.

Founded in 2018, DXwand initially focused on building custom chatbots for small businesses.

However, recognizing the need for broader solutions, the company pivoted in 2021 towards corporations and enterprises, offering advanced knowledge mining and Retrieval Augmented Generation (RAG) capabilities.

“Our initial goal was to overcome the challenge of developing AI that understands Arabic dialects,” shares Mahmoud, CEO of DXwand. “But success led us to refine our business model, targeting a wider market and achieving profitability.”

Today, DXwand boasts over 200 clients across diverse sectors like healthcare, e-commerce, fintech, and government, with its chatbot serving over 40 businesses in the MENA region.

The company facilitates over five million monthly conversations and generates annual recurring revenue exceeding $5 million, demonstrating impressive 2x year-over-year growth.

The funding was led by the 212Founders program and backed by Kima Ventures and others.

Founded in 2021, Crealo aims to ease the often bureaucratic process of managing artistic rights.

Their online platform caters to institutions of all sizes, from prominent galleries like Palais de Tokyo to smaller publishers. Features like streamlined royalty distribution and frequent settlements.

This funding round is more than just a financial win as it will fuel Crealo’s ambition to become the go-to solution for Europe’s cultural and creative sector.

The company plans to use the money to upgrade its platform, forge strategic partnerships, and expand its team.

The 212Founders program, a dedicated supporter of Moroccan entrepreneurs, played a key role in securing the funding. Their investment of 4.9 million dirhams reflects their commitment to nurturing innovation and driving economic growth in the country.

The combined debt-equity investment, including $1.7 million in equity, will fuel Shamba Pride’s expansion plans and empower both farmers and retailers across Kenya.

This latest funding round, led by the European Union’s EDFI AgriFI initiative and Seedstars Africa Ventures (SAV), builds upon Shamba Pride’s previous $1.1 million capital raise in 2021.

Since its 2016 launch, the company has established itself as a crucial ecosystem for agricultural trade, offering an online-to-offline platform that empowers “agro-dealers” with tools and technology to better serve farmers.

“Agro-dealers play a vital role in rural areas, providing farmers with access to crucial inputs, services, and training,” says Shamba Pride CEO Samuel Munguti.

“This new funding will equip them with the tools and technology they need to enhance their businesses, support local farmers, and expand their commercial reach.”

Shamba Pride’s focus on empowering small-scale farmers, who contribute significantly to Kenya’s GDP and employment, aligns with the nation’s broader push towards technological innovation in agriculture.

The sector accounts for 65% of export revenue and offers immense potential for further development.

Shamba Pride’s platform provides farmers with valuable resources, including market links, Buy Now, Pay Later (BNPL) financial services, and training information accessible through a USSD platform.

Currently operating in 24 counties, the company has already enrolled over 60,000 farmers and partnered with 2,700 agro-retailers, covering more than half of Kenya.

With this new funding, Shamba Pride aims to expand its reach further, incorporating more retailers and agricultural areas throughout the country in the coming year.

This fresh capital injection will fuel the venture capital fund’s mission to empower high-growth, innovative businesses across Africa.

The AfDB investment comes in two parts: $7 million from its own resources and $3.5 million from the European Union Boost Africa program.

This initiative, launched in 2019 by the AfDB and the European Investment Bank, aims to empower young African entrepreneurs to build impactful businesses, creating jobs and boosting economic growth.

“This new investment will have a significant economic impact, generating an estimated 9,000 full-time jobs, half of which will be reserved for women,” the AfDB stated in a press release.

“This aligns with the Bank’s Jobs for Youth in Africa Strategy, demonstrating its commitment to supporting youth entrepreneurship and development.”

Seedstars Africa Ventures, launched in 2020, identifies and invests in promising early-stage businesses across sub-Saharan Africa.

With a focus on companies tackling critical market challenges and demonstrating revenue potential, the fund has already invested over $7 million in 25 startups.

“This additional capital from the AfDB will be instrumental in expanding our reach and impact,” says Seedstars Africa Ventures’ Maxime Bouan.

“It will allow us to support more innovative startups, create new jobs, and contribute to the development of Africa’s vibrant entrepreneurial ecosystem.”

The fund, with backing from prominent corporations and institutional investors, prioritizes early-stage investments in underserved markets, often overlooked by traditional investors.

While focusing on French-speaking countries like Senegal and Côte d’Ivoire, it also invests in Ghana, Uganda, and Tanzania, showcasing its commitment to pan-African entrepreneurship.

This latest investment solidifies Seedstars Africa Ventures’ position as a leading supporter of early-stage innovation in Africa.

This new injection of fuel will propel Zeal’s ambitious expansion plans across Europe, the Middle East, and Africa, following its recent entry into the UK market.

Founded in 2019, Zeal empowers retailers and businesses with innovative payment solutions that go beyond mere transactions.

Their game-changer? The SmartPOS Plugin, a technology that transforms existing credit card machines into powerful customer engagement tools.

“This investment fuels our mission to bridge the gap between billions of customers and millions of retailers,” says Ebeid. “We’re using AI to revolutionize retail customer engagement on a global scale.”

The SmartPOS Plugin leverages standard POS terminals to understand customer behavior, enabling retailers to identify, segment, and retarget customers with personalized experiences.

“Zeal’s comprehensive solution holds immense potential for the global payment landscape,” says Wael Nafee of Raed Ventures. “We’re thrilled to support their vision and watch them transform in-store customer engagement.”

This strategic investment, fueled by Ezdehar’s Mid-Cap Fund II, aligns with the firm’s mission to empower promising startups.

Founded in 2018, Yodawy has gained prominence with its health-tech platform.

Patients can access a comprehensive healthcare marketplace, order medication, connect with labs and insurance companies, and experience a streamlined healthcare journey.

“This investment is a game-changer for Yodawy,” says CEO Karim Khashaba.

“Ezdehar’s support will fuel our expansion, enhance prescription fulfillment capabilities, and solidify our position as a key player in Egypt’s digital health landscape.”

Yodawy boasts partnerships with 35 health insurance providers, 800 companies, 20 hospitals, and 3,000 pharmacies, serving both chronic and non-chronic conditions.

Ezdehar, backed by renowned institutions like the European Bank for Reconstruction and Development, recognizes Yodawy’s potential.

“They’ve identified a gap in the healthcare system and developed a model that benefits both patients and providers,” remarks Ezdehar General Manager Amir El-Sharqy.