Category: New Investments

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Shop Zetu, a fast-growing fashion marketplace based in Kenya, has raised $1 million in pre-seed funding to fuel its Africa expansion plans

New Investments

Shop Zetu, a fast-growing fashion marketplace based in Kenya has raised $1 million in pre-seed funding to fuel its Africa expansion plans

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Shop Zetu, a fast-growing fashion marketplace based in Kenya, has secured $1 million in pre-seed funding to fuel its ambitious expansion plans across Africa.

The funding round was led by Chui Ventures, with participation from Launch Africa Ventures, Roselake Ventures, and Logos Ventures. Notable angel investors who also contributed to the funding include Kendall Tang (CEO of RT Knits Ltd), Ben M. (co-founder and CEO of Nadine West), Sumit Bhasin (The Estée Lauder Companies Inc.), Patricia Ithau (CEO of WPP Scangroup), and Peter Njonjo (co-founder and CEO of Twiga Foods).

Shop Zetu’s latest round of investment marks a significant milestone for the company as it aims to revolutionize the fashion e-commerce landscape in the region. Founded in 2021, Shopzetu’s online platform connects fashion-conscious consumers with a wide range of trendy and affordable clothing, footwear, accessories, and beauty products.

 

The marketplace has gained popularity for its curated selection, convenient shopping experience, and reliable delivery services. With a focus on democratizing fashion and empowering local designers and vendors, Shopzetu has positioned itself as a platform that showcases and promotes African fashion and creativity.

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Kubik, a pioneering startup specializing in plastic waste upcycling, secures $3.34 million to promote sustainable practices across Africa

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Kubik, a pioneering startup specializing in plastic waste upcycling, secures $3.34 millionto promote sustainable practices across Africa

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Kubik, Inc., a pioneering African startup specializing in plastic waste upcycling, has secured $3.34 million in funding.

The investment aims to position Kubik as a leader in combating plastic pollution and promoting sustainable practices across Africa. The funding round was led by prominent venture capital firms, including Plug and Play Tech Center, BESTSELLER FOUNDATION, GIIG Africa Fund, Satgana, Unruly Capital, Savannah Fund, African Renaissance Partners, LLC, Kazana Fund, Princeton Alumni Angels, and Andav Capital.

 

Kubik’s unique upcycling process involves transforming post-consumer plastic waste into valuable and sustainable products. Founded in 2021, the startup repurposes plastic waste into building materials, furniture, and consumer goods. The latest funding round will enable Kubik to expand its operations, invest in research and development, and scale up its production capabilities.

The investment will also support establishing collection networks to ensure a steady supply of plastic waste and foster partnerships with local communities, waste management organizations, and government entities.

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Egyptian-based logistics startup Trella raises $3.5 million for scaling

New Investments

Egyptian-based logistics startup Trella raises $3.5 million for scaling

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Trella, an Egyptian-based logistics startup, has raised $3.5 million in a recent funding round led by Avanz Capital.

This significant investment will enable Trella to expand its operations further, enhance its technology platform, and solidify its position as one of the leading players in the logistics industry. With the newly secured funding, Trella plans to expand its operations, strengthen its presence in existing markets, and explore opportunities in new geographies.

 

The investment will also be allocated towards enhancing its technology platform, which leverages data-driven insights and machine learning algorithms to optimize freight matching, improve efficiency, and deliver a seamless logistics experience.

Launched in 2022, Trella aims to address the logistics challenges businesses face in emerging markets, particularly in the Middle East and Africa. The platform connects shippers with carriers by leveraging technology, streamlining the process and providing real-time visibility and transparency throughout the transportation journey.

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Kenyan startup Peach Cars secures $5 million seed investment

New Investments

Kenyan startup Peach Cars secures $5 million seed investment

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Kenyan startup Peach Cars KE has secured a $5 million seed investment to fuel its ambitious plans of transforming the automotive industry in Kenya.

Kenyan startup Peach Cars KE has secured a $5 million seed investment to fuel its ambitious plans of transforming the automotive industry in Kenya. The funding round was led by Japan-based UTEC – The University of Tokyo Edge Capital Partners and other angel investors, including Shintaro Yamada (founder and CEO of Mercari), Peter Kenevan (VP, Head of Japan at PayPal), and Hiroaki Ohta (general partner at Japan’s WASEDA University Ventures (WUV)).

 

Founded in 2020, Peach Cars aims to address the challenges faced by buyers and sellers in the used car market by providing a transparent, efficient, and trustworthy online platform. With a focus on enhancing the customer experience and streamlining the car purchasing process, the startup intends to disrupt the industry and create a new standard of excellence in the Kenyan automotive market.

The funding will enable the startup to expand its operations, strengthen its technological infrastructure, and drive user acquisition to establish itself as the go-to destination for buying and selling used cars in Kenya. Peach Cars’ online platform leverages advanced technologies to provide accurate vehicle valuation, comprehensive inspection reports, and personalized recommendations to potential buyers.

By fostering trust and transparency in the used car market, the startup aims to overcome the existing pain points and improve the overall experience for buyers and sellers alike.

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Nigeria’s Eze raises $3.7 million seed funding

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Nigeria’s Eze raises $3.7 million seed funding

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Nigerian B2B marketplace startup Eze has raised $3.7m to revolutionize the African electronics market.

The funding round, led by Right Side Capital Management, attracted investments from C2 Ventures, Boro Capital, EVPI Investments, and several angel investors. Founded in 2020, the YC-backed startup aims to bridge the gap between the global technology landscape and African consumers by providing them with access to electronics at competitive prices.

 

With this substantial investment, the company intends to ramp up its operations, enhance its product offerings, and expand its reach across the continent. The company’s innovative business model leverages e-commerce platforms and localized retail outlets to reach consumers in both urban centres and remote areas.

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Yellow raises $14 million in Series B funding

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Yellow raises $14 million in Series B funding

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Yellow, a leading PayGo solar startup in Africa, has secured $14 million in Series B funding to scale across Africa.

Convergence Partners led the funding round with participation from the Energy Entrepreneurs Growth Fund, managed by Triple Jump, and follow-on investment from Platform Capital Investment Partners. Founded in 2018, Yellow offers affordable and accessible solar energy solutions to off-grid households in Africa.

 

The company’s PayGo model enables customers to pay for solar energy products in installments, making clean energy solutions more affordable for low-income households. Yellow’s innovative approach has garnered recognition and support from various organizations, including the United Nations Development Programme and the World Bank.

The $14 million funding round will allow the startup to accelerate its expansion plans and increase its market penetration across the continent. The investment will be primarily allocated to expanding Yellow’s distribution network, enhancing its product offerings, and investing in research and development to improve technological advancements.

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CSIR secures $4m million in funding from Bill & Melinda Gates Foundation

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CSIR secures $4 million in funding from Bill & Melinda Gates Foundation

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The Council for Scientific and Industrial Research (CSIR) has secured a $4 million investment from the Bill & Melinda Gates Foundation to drive skills and health innovation.

The investment will accelerate the CSIR’s groundbreaking research and development efforts in healthcare, opening new avenues for advancements and solutions that address critical health challenges across the continent. The investment marks a significant milestone in the CSIR’s mission to promote scientific excellence and foster innovation for the betterment of African communities.

 

With the funding, the CSIR will boost the development of innovative healthcare solutions that are accessible, affordable, and tailored to meet the specific needs of the African population. The CSIR has a proven track record of delivering impactful healthcare innovations, from diagnostics and therapeutics to medical devices and digital health solutions.

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Helium Health raises $30 million in Series B funding to drive healthcare innovation in Africa

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Helium Health raises $30 million in Series B funding to drive healthcare innovation in Africa

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Nigerian healthtech startup Helium Health has raised $30 million in its recent Series B funding round.

The funding round saw participation from Capria Ventures, Angaza Capital , and Flatworld Partners, with existing investors like Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC | Asia Africa Investment & Consulting also taking part. Helium Health has been at the forefront of leveraging technology to drive healthcare innovation across Africa.

 

Founded in 2014, the company provides an integrated electronic medical records (EMR) and hospital management information system (HMIS) platform, empowering healthcare providers to streamline operations, enhance patient care, and drive overall efficiency. With the successful completion of its Series B funding round, Helium Health is now primed to advance its mission of revolutionizing healthcare financing solutions on the African continent

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Kena Health raises $2 million to improve access to quality healthcare services

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Kena Health raises $2 million to improve access to quality healthcare service

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South African health-tech startup, Kena Health, has raised $2 million in seed funding.

The startup secured the seed extension funding from NEXT176, a subsidiary of Old Mutual, and Tofino Capital, a US-based market investor. Launched in 2022, Kena Health aims to revolutionize the healthcare industry by leveraging technology to improve access to quality healthcare services.

 

The startup provides a comprehensive telehealth platform that connects patients with licensed healthcare professionals via a smartphone, allowing for remote medical advice, diagnoses, and prescriptions. The platform also incorporates digital health tools and features, such as electronic health records and remote monitoring, to enhance patient care and improve health outcomes.

 

The $2 million funding injection will enable Kena Health to accelerate its expansion plans, further develop its technology infrastructure, and strengthen its team of healthcare professionals and technical experts. The startup intends to utilize the funds to enhance the platform’s capabilities, extend its reach to underserved communities, and invest in research and development to innovate and refine its solutions continuously.

 

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