The company secured the funding from a consortium of investors, including Sanofi Global Health Unit Impact Fund, Pontem Ventures, Warioba Ventures, Villgro Africa, Axian Group, and other local venture capitalists.

This financial injection will fuel their mission to ensure everyone has access to the medicines they need.

“This vote of confidence from leading investors validates our vision,” says Joseph Paul, Dawa Mkononi co-founder and CEO.

“Their support will be instrumental in expanding our reach and improving healthcare access across Tanzania.”

Dawa Mkononi, meaning “Medicine at your Palms,” tackles the pharmaceutical supply chain head-on.

Their mobile app empowers pharmacies, clinics, and hospitals to order medicines conveniently, with FinTech options streamlining payments.

This not only saves time and money but also combats price fluctuations and counterfeit drugs.

Already serving over 1,000 healthcare businesses in Dar es Salaam alone, Dawa Mkononi’s reach extends beyond major cities.

The new funding will fuel expansion to remote areas, ensuring life-saving medicines are within reach for all.

Dawa Mkononi’s innovative approach demonstrates the power of technology to bridge healthcare gaps and ensure everyone has access to vital medical supplies.

Led by impact investor Investisseurs & Partenaires (I&P), the new funding round brings together AAIC, FINCA Ventures, and Beyond Capital, alongside advisory support from CrossBoundary under USAID’s Africa Trade and Investment activity.

The capital injection will fuel Lapaire’s ambitious expansion plans, aiming to bring the gift of clear sight to millions across Africa.

Founder Jérôme Lapaire, a Swiss entrepreneur inspired by the continent’s potential, started Lapaire in 2018 after recognizing the vast need for accessible eyewear.

“Reports highlighted the huge unmet demand for glasses in Africa,” Lapaire explains. “I knew this wasn’t just about selling a product; it was about improving lives.”

With no prior experience in the industry, Lapaire took a bold step. He bypassed traditional retail, partnering with employers to offer free eye tests and affordable glasses directly to employees.

By prioritizing social impact and a sustainable business model, Lapaire is not just selling eyewear; it’s building a brighter future for millions across Africa.

This latest investment paves the way for Lapaire to expand its reach, opening new eye care centers and making a clear vision an achievable reality for all.

The program is an 8-week session with $125,000 upfront funding and access to a network of unicorn mentors and top investors.

This Stockholm-based accelerator goes beyond conventional programs as it connects successful startups with world-class advisors who share their passion for using technology and entrepreneurship to drive positive change.

These mentors have walked the startup path themselves, offering invaluable insights and support as you navigate challenges and reach for the stars.

In November 2023, Norrsken22 raised $205 million for its debut fund aimed at supporting African startups during critical growth stages.

Founded by VC and PE veterans, the firm operates across Nigeria, South Africa, Kenya, and Ghana.

Their African Tech Growth Fund secured $110 million in its first close, backed by 30 global unicorn founders.

Despite a dip in global VC activity, Norrsken22 is seeking to bridge the gap between growth and late-stage investments, focusing on Series A and B rounds.

Around 50% of their capital builds a portfolio of promising companies, with the rest reserved for follow-on investments.

Norrsken22 backs fintech, edtech, medtech, and market-enabling solutions that deliver strong returns and positive impact across Africa. Their portfolio boasts stellar names like TymeBank, Sabi, Smile Identity, Autochek, and Shara.

Interested entrepreneurs can apply via – https://airtable.com/app7bGSveZe9qXGM5/pag01no0ldy3Ae7Br/form

These exciting additions to the company’s portfolio showcase the impact of their Fuzé initiative, dedicated to bridging the funding gap for Francophone startups.

The four startups include:

1. Valorigo – a Democratic Republic of Congo-based online marketplace that simplifies access to healthcare products for consumers while boosting visibility and sales for pharmacies. Supported by IMPACT Lab and Kobo Hub, Valorigo is revolutionizing healthcare access in the region.

2. Kwely Inc. – a B2B e-commerce platform championing Made-in-Africa products. The startup aspires to become the continent’s leading B2B marketplace. By connecting African buyers and sellers globally, Kwely aims to reshape perceptions of African products and streamline cross-border trade.

3. MONSAPO – a Tunisian startup specializing in eco-friendly cleaning products, is committed to circular economy principles, catering to both individuals and professionals. Their innovative, sustainable solutions offer an eco-conscious alternative in the cleaning industry.

4. REasy – a startup empowering African SMEs with efficient and cost-effective global financial transactions. By prioritizing speed, traceability, and cost reduction, REasy simplifies payment processes for African businesses, saving them valuable time and resources.

Digital Africa’s Fuzé initiative has been instrumental in transforming funding accessibility for Francophone startups.

Backed by Proparco, Fuzé fosters opportunities, facilitates funding, and amplifies visibility for tech solutions addressing Africa’s specific economic needs.

With an investment envelope of €6.5 million, Fuzé offers ideation tickets of €20K, follow-on tickets of €30K, and cumulative tickets of €50K, catering to startups at various stages of growth. 

Led by the Catalyst Fund, a group of investors committed to sustainable agriculture and rural prosperity, the funding will fuel Zebra CropBank’s expansion and empower farmers.

The investment targets scaling Zebra CropBank’s operations, primarily through deploying solar-powered micro-warehouses and strengthening its integrated trading platforms.

This addresses key challenges faced by smallholder farmers: limited storage capabilities, weak market linkages, and climate change vulnerability.

Zebra CropBank’s innovative model relies on constructing and leasing solar-powered micro-warehouses near farming communities.

These facilities enable farmers to securely store and insure their harvests, while a USSD platform ensures transparent storage and trading.

The impact is already tangible, with farmers experiencing up to 90% income increases and minimized storage losses.

Investors were drawn to Zebra CropBank’s potential for significant positive impact, recognizing its fact-based approach to tackling multifaceted challenges faced by smallholder farmers.

Its unique focus on post-harvest solutions – storage and market access – sets it apart in the agritech sector.

Currently operating in Enugu State with five established micro-warehouses and 1,400 registered farmers, Zebra CropBank offers climate-smart solutions tailored to smallholder needs.

The investment, led by San Francisco-based venture capital firm 1984 Ventures, will fuel Cleva’s expansion and development of new products aimed at simplifying cross-border financial transactions.

Founded in 2023 by Tolu Alabi and Philip Abel, Cleva addresses a pressing need in Africa’s burgeoning digital economy.

The platform helps users open US-based bank accounts, simplifying the process of receiving international payments in USD. This eliminates reliance on traditional remittance channels, often plagued by high fees and complex procedures.

With a user-friendly onboarding process requiring only a Bank Verification Number (BVN) and government-issued ID, Cleva has already witnessed impressive traction. In just four months since its Nigerian launch, the platform has processed over $1 million in monthly payments for thousands of users.

Cleva’s focus on customer experience and a unique business model differentiates it from competitors.

By providing a platform designed for ease of use and affordability, Cleva aims to democratize access to international financial services.

With the backing of established investors like Y Combinator, FirstCheck Africa, The Raba Partnership, and Byld Ventures, Cleva is poised to make a significant impact on the African financial landscape.

The investment, backed by prominent names like Tunde Akinnuwa (Duplo co-founder), Cameroon Angels Network, and Catalytic Africa, will fuel Koree’s mission to tackle the challenge of spare change in cash-heavy economies.

“We’re thrilled by the investor confidence in our vision,” says Koree founder Magalie Gauze-Sanga. “This funding will allow us to onboard more merchants, grow our user base, and refine our platform to achieve the perfect product-market fit.”

Koree’s platform tackles the problem of loose change by linking cards and digital wallets to a network of merchants.

Customers earn cashback on everyday purchases, while merchants gain access to tools for creating loyalty programs.

But Koree’s ambitions extend beyond spare change. Gauze-Sanga reveals plans for a new marketplace on the Koree app, offering shoppers rewards in 14 categories, from groceries and dining to movies and pharmacy.

To simplify the redemption process, Koree will collaborate with popular mobile money providers.

Since its launch in September 2022, Koree has amassed over 13,000 users, processed 50,000+ transactions, and generated 30,000 private wallets. Its revenue model combines merchant subscription fees and transaction commissions.

Koree’s achievements haven’t gone unnoticed. The startup emerged victorious in both the Orange Fab Cameroon and Ecobank Fintech Challenges, earning $50,000 in non-dilutive funding and valuable mentorship.

With a fresh round of backing and a clear roadmap, Koree seeks to disrupt the financial landscape in Cameroon and beyond, empowering both businesses and consumers through innovative savings and rewards solutions.

The investment, led by VentureWave Capital, will serve as a springboard for iSchool to reach new markets and solidify its position as a leader in coding education for children.

Founded in 2018, iSchool offers live, gamified coding classes for students aged 6-18. Its curriculum covers a range of in-demand skills, including Artificial Intelligence, Virtual Reality, app development, game development, and web development.

The startup has garnered significant traction in the Middle East and North Africa, boasting leadership roles in computer science labs, technical training, and partnerships with 35 schools.

Notably, iSchool has spearheaded national-level initiatives in Egypt, Saudi Arabia, and the United Arab Emirates.

With over 26,000 students, 1 million training hours, and 10 million lines of code written by their young learners, iSchool has established a strong foundation for further growth.

The $4.5 million investment will fuel iSchool’s ambitious expansion plans.

The Dublin office will serve as a strategic hub for its international operations, facilitating entry into new markets and fostering collaboration with global talent.

Additionally, the funding will enable iSchool to expand its reach in the MENA region, scale its online platform. and extend its reach in Sub-Saharan Africa.