Category: New Investments

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Ethiopian health tech YeneHealth raises Pre-Seed funding to bridge the healthcare gap in Africa

New Investments

Ethiopian health tech YeneHealth raises Pre-Seed funding to bridge the healthcare gap in Africa

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Ethiopian health-tech startup YeneHealth has raised Pre-Seed funding to bridge the healthcare gap in Africa.

YeneHealth’s latest funding round was led by African VC and Jaza Rift Ventures, a leading health-tech-focused venture capital firm.

Founded in 2021, the company is committed to unlocking the digital door of healthcare services for African women of reproductive age.’

YeneHealth’s web and mobile application is designed to provide African women of reproductive age with confidential and comprehensive access to sexual and reproductive healthcare services.

The platform offers a range of features, including health information, telehealth services with verified providers, an e-pharmacy service with discreet delivery, and personalized tools such as period tracking and medication monitoring.

The latest round of investment will accelerate YeneHealth’s role as a frontrunner in the femtech space on the continent.

The funds will be utilized to expand the platform’s reach, enhance product development, and establish strategic partnerships, ultimately enabling YeneHealth to build on the foundation needed to serve the more than 280 million women of reproductive age across Africa.

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South African solar energy firm GoSolr secures new investment from African Rainbow Capital for clean energy acceleration

New Investments

South African solar company GoSolr secures new investment from African Rainbow Capital for clean energy acceleration

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South African solar energy firm, GoSolr, has secured a substantial new investment from African Rainbow Capital (ARC), a leading investment firm.

The strategic investment marks a significant milestone for GoSolr and paves the way for accelerated growth and expansion in the country’s clean energy landscape.

GoSolr has been at the forefront of harnessing solar power to drive sustainable and eco-friendly solutions in South Africa.

With a mission to promote clean energy adoption and combat climate change, GoSolr’s innovative solar technologies have already positively impacted both residential and commercial customers seeking renewable energy alternatives.

ARC’s investment in GoSolr is aligned with its commitment to fostering sustainable businesses and promoting a greener future for Africa.

The collaboration aims to create a stronger clean energy ecosystem in South Africa and facilitate the widespread adoption of renewable energy solutions.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Kasha, a Rwandan-based e-commerce platform that provides access to women’s health and personal care products, has raised $21 million in a Series B funding round

New Investments

Kasha, a Rwandan-based e-commerce platform that provides access to women’s health and personal care products, has raised $21 million in a Series B funding round

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The investors who participated in the funding round include Knife Capital, Finnfund, DFC, Tim Koogle (ex-Yahoo CEO), Beyond Capital Ventures, Altree Capital, Bamboo Capital Partners’s BLOC Smart Africa Fund and Five 35 Ventures

Founded in 2016, Kasha aims to bridge the gap in access to women’s health products and personal care items, addressing the challenges faced by many women in obtaining these essential items discreetly and conveniently. The latest funding round marks a significant milestone for the company, enabling Kasha to expand its health access platform across Africa and further its mission of empowering women with affordable and confidential health solutions.

 

The $21 million Series B investment comes when there is a growing focus on women’s health and empowerment in Africa.Kasha’s efforts align with the United Nations Sustainable Development Goals (SDGs), particularly SDG 3 (Good Health and Well-Being) and SDG 5 (Gender Equality).

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Kenyan Agtech Startup Farmworks Raises $4 Million in Pre-Series A Funding to Revolutionize Agriculture Technology

New Investments

Kenyan agtech FarmWorks secures $4 million in pre-Series A funding to revolutionize agriculture technology

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Kenyan agtech startup Farmworks has secured $4 million in pre-Series A funding to fuel its mission to transform agricultural practices in Kenya and beyond.

The investment will allow Farmworks to enhance its technology platform further and expand its reach, empowering farmers and revolutionizing the agriculture sector.

The funding round was led by Acumen Resilient Agriculture Fund, an existing investor. Livelihood Impact Fund, Vested World, several family offices, and angel investors also participated in the round.

Founded in 2018, Farmworks has gained recognition for its cutting-edge technological solutions to boost agricultural productivity and efficiency.

The platform leverages data analytics, artificial intelligence, and Internet of Things (IoT) sensors to provide farmers with valuable insights into crop management, weather forecasting, and pest control.

With a user-friendly mobile application, Farmworks enables smallholder farmers to access personalized recommendations and timely information on crop care, disease prevention, and optimal harvesting periods.

Agriculture is a vital sector in Kenya, employing a significant portion of the country’s population and contributing substantially to its economy.

However, farmers often face challenges such as unpredictable weather patterns, limited access to resources and information, and fluctuating market prices.

Farmworks aims to bridge these gaps by providing farmers with actionable insights to make informed decisions and improve their overall productivity.

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Nigerian health-tech startup Clafiya raises $610,000 to reimagine healthcare service delivery in Africa

New Investments

Nigerian healthtech Clafiya raises $610,000 in funding to reimagine healthcare delivery in Africa

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Clafiya, a Nigerian health-tech startup, has secured $610,000 in a pre-seed funding round to further its mission of transforming healthcare access and services across Africa.

The funding round attracted participation from Norrsken Accelerator, Acquired Wisdom Fund (AWF), Hustle Fund, Voltron Capital, Microtraction, Ajim Capital, HoaQ, Bold Angel Fund, Shivdasani Family and other angel investors.

Launched in 2021, Clafiya aims to bridge the gap between patients and healthcare providers through its innovative platform.

The startup is on a mission to enhance healthcare accessibility and affordability in Africa through its comprehensive digital platform that aims to streamline communication and services between healthcare providers, patients, and other stakeholders in the healthcare ecosystem.

The platform offers features such as telemedicine consultations, online appointment scheduling, medical records management, and medication delivery services.

By leveraging technology, Clafiya aims to make healthcare services more convenient and efficient, especially for patients in remote or underserved areas.

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Nigerian fintech startup Kuda hits 6 million customer milestone as it continues to redefine financial inclusion in Africa

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Nigerian fintech startup Kuda hits 6 million customer milestone as it continues to redefine financial inclusion in Africa

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Kuda, one of the leading digital banks in Africa, has surpassed the six-million customer milestone, solidifying its position as a trailblazer in driving financial inclusion across the continent.

Founded in 2019, Kuda has rapidly evolved into one of the most prominent fintech startups in Africa, offering innovative financial solutions and reshaping the way individuals access and manage their money.

As the fintech sector continues to gain momentum across Africa, the company has been at the forefront of revolutionizing traditional banking services and making them accessible to the unbanked and underbanked populations.

Through its mobile app, the digital bank addresses the challenges of physical branches, reaching remote areas where banking services were once scarce.

By providing access to essential banking services, Kuda empowers individuals to save, invest, and engage in economic activities that were previously challenging due to the lack of access to traditional financial services.

As Kuda continues to flourish, its sights are set on broader horizons. The company plans to expand its presence into more African countries, cementing its position as a pan-African financial institution.

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Egyptian fintech startup Money Fellows secures $4 million from Arzan Venture Capital

New Investments

Egyptian fintech startup Money Fellows secures $4 million from Arzan Venture Capital

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Arzan Venture Capital, a leading venture capital firm, has announced a significant investment of $4 million in Egyptian fintech startup, Money Fellows.

The strategic funding is set to accelerate Money Fellows’ mission of transforming traditional savings and credit associations through its innovative tech-driven platform.

Money Fellows has been gaining widespread recognition for its groundbreaking approach to ROSCAs, traditional rotating savings and credit associations that have been a cornerstone of financial solidarity for generations.

By harnessing the power of technology, Money Fellows has reimagined this centuries-old practice, providing users with a modern, efficient, and inclusive digital platform to participate in these financial circles.

Arzan Capital’s decision to invest $4 million in Money Fellows underscores the startup’s potential and its immense promise for revolutionizing Egypt’s fintech landscape.

One of Money Fellows’ primary objectives is to foster financial inclusion across Egypt by offering accessible financial services to individuals underserved by traditional banking institutions.

The platform enables members to pool their financial resources, creating a cycle of contributions and payouts, eliminating the need for high-interest loans or credit cards.

With Arzan Capital’s investment, Money Fellows plans to accelerate the platform’s expansion, reaching out to a broader audience in both urban centers and rural areas.

This will empower more Egyptians to take control of their finances, build creditworthiness, and achieve their financial goals, ultimately contributing to the country’s overall economic development.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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MyCover.ai, a Nigerian startup specializing in insurance technology solutions, has secured $1.25 million to disrupt the traditional insurance industry in Africa

New Investments

MyCover.ai, a Nigerian startup specializing in insurance technology solutions has secured $1.25 million to disrupt the traditional insurance industry in Africa

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The investment was led by prominent venture capital firms led by Ventures Platform Fund, with participation from Founders Factory Africa and Techstars, who are making a follow-on investment.

Founded in 2021, MyCover.ai aims to disrupt the traditional insurance industry in Africa by leveraging cutting-edge technology to provide accessible, transparent, and personalized insurance products to individuals and businesses alike. This recent pre-seed funding will play a crucial role in supporting the startup’s expansion plans and advancing its mission of fostering financial inclusion across the continent.

MyCover.ai’s innovative approach to insurtech centers around harnessing the power of artificial intelligence (AI) and data analytics to create tailored insurance solutions that meet the unique needs of customers. Through their platform, users can easily access a range of insurance products, from health and life coverage to property and auto insurance, all at competitive and affordable rates.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Egyptian fintech startup Flash has raised $6 million in seed funding to expand its product offerings and accelerate its growth in Egypt and beyond

New Investments

Egyptian fintech startup Flash has raised $6 million in seed funding to expand its product offerings and accelerate its growth in Egypt and beyond

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The investment round was led by Addition Capital , a venture capital firm headed by former Tiger Global executive Lee Fixel, Flourish Ventures and strategic angel investors.

Founded in 2021, Flash offers cashless payment solutions through its scan-and-pay service, allowing consumers and businesses to make transactions conveniently using QR codes. The startup is on a mission to eliminate the need for cash and physical cards, providing an alternative to expensive NFC-enabled point-of-sale (POS) systems.

Flash’s flagship product is a mobile app that allows users to make and receive cashless payments at merchants across Egypt. Flash also offers a variety of other financial services, including loans, savings accounts, and insurance. With the new funding, Flash plans to expand its product offerings and accelerate its growth in Egypt and beyond. The company plans to launch new lending, savings, and insurance products.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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