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Philips Foundation backs Egypt’s Rology with funding to bridge the healthcare gap in underserved communities

New Investments

Philips Foundation backs Egypt's Rology with funding to bridge the healthcare gap in underserved communities

Egyptian health-tech startup Rology has secured funding from the Philips Foundation under a new partnership.
 

The strategic partnership aims to address healthcare challenges faced by marginalized populations, heralding a new era of improved medical access and innovative solutions.

Rology, known for its groundbreaking advancements in health technology, has garnered significant attention for its commitment to delivering accessible and innovative healthcare solutions.

The partnership with Philips Foundation further solidifies the company’s dedication to addressing the healthcare disparities in marginalized communities.

The Philips Foundation is renowned for its global efforts in promoting equitable healthcare and has chosen to back Rology’s ambitious endeavor to drive healthcare innovation.

This collaboration marks a pivotal moment in creating sustainable, technology-driven solutions for communities traditionally left without proper access to quality healthcare services.

The funding infusion from Philips Foundation is expected to propel Rology’s efforts in developing cutting-edge telehealth solutions, remote diagnostics, and telemedicine platforms tailored to the unique needs of marginalized communities.

By harnessing the power of technology, Rology aims to bridge the healthcare gap, bringing medical expertise and services closer to those who need them the most.

The partnership between Rology and Philips Foundation is driven by a shared vision of a future where quality healthcare is a reality for everyone, regardless of their geographical location or socioeconomic background.

The collaboration aims to pave the way for a more equitable healthcare landscape by focusing on technological innovation, capacity building, and sustainable solutions.

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Champions of Tomorrow: Recognizing 30 Inspirational African Youth Leaders on International Youth Day

Champions of Tomorrow: Recognizing 30 Inspirational African Youth Leaders on International Youth Day

Africa, with its vibrant cultures, diverse landscapes, and rich history, is a continent brimming with potential.

But the true driving force behind its transformation lies in its youth—the dynamic, ambitious, and innovative individuals who are shaping a brighter tomorrow.

In a world that’s constantly evolving, African youth are at the forefront of change. Their passion for progress, determination to break barriers, and hunger for knowledge are propelling the continent forward.

With a spirit of resilience born from overcoming challenges, they are rewriting narratives and building bridges towards sustainable development.

From bustling urban centers to remote rural communities, African youth are initiating transformation in every corner.

They are entrepreneurs developing cutting-edge solutions for local challenges, advocates for social justice raising their voices against inequality, and tech pioneers harnessing innovation to bridge gaps in education and healthcare.

As the world marks International Youth Day, Empower Africa proudly spotlights 30 exceptional individuals who are driving positive change, innovation, and progress across the continent.

At Empower Africa, our mission is to catalyze sustainable economic development through human capital investment, and these 30 young leaders are exemplary embodiments of that mission, carving paths of impact in various fields.

1. Jessica Annor – Head of the Youth, Gender and Women’s Empowerment Unit – African Union Development Agency-NEPAD


2. Chido Cleopatra Mpemba – Special Envoy on Youth to African Union Chairperson


3. Cynthia Chigwenya – African Youth Ambassador for Peace (AYAP) for Southern Africa (African Union)


4. Nicholas Addae Mensah – Founder & President – Youth Network For Health Promotion


5. Simi Nwogugu – CEO at JA Africa


6. Joshua Alade – Executive Director – Nigeria Youth SDGs Network


7. Kingsley Godwin – CYPAN Chairperson – The Commonwealth


8. Damilola Hamid Balogun – CEO – Youth Sustainable Development Network


9. Dr. Femi Awoyomi – African Youth Development Champion


10. Lucy Mutuku – CEO – National Youth Caucus Kenya


11. Rogers Omollo – East Africa Coordinator – African Youth Philanthropy Network (AYPN)


12. Arnold Gekonge – Founder – Champions for SDGs Youth


13. Christine Odera – Member Board Of Directors – National Youth Service Kenya


14. Doreen Moraa – AS Young leader 2021


15. Lennox Omondi – Global Youth Ambassador – Theirworld


16. Anita Soina – Head of Socials – African Youth Climate Assembly


17. Gathoni Kungu – Vice President at Youth Up Global


18. Sharmi Surianarain – Chief Impact Officer at Harambee Youth Employment Accelerator


19. Mariam Sedky – Youth Advocate Gender Innovation Agora (GIA) at UN Women


20. Emmanuel Wabwire – CEO & Founder Faraja Africa Foundation


21. Denis Wembi – Project CO- Lead, Youth Cast


22. Jovia Kisaakye – Youth Advocate


23. Rebecca Cherop – Youth Advisory Team for Health at Africa CDC


24. Emolot Allan David – Chairperson-AfCFTA Youth Advisory Council


25. Akuot Sarah – Minister of Information, Culture, Youth and Sports (South Sudan)


26. Floyd (Mr F) Mokhena – Youth Advocate


27. Risuna (O) Maluleke – CEO of Young African Entrepreneurs Institute


28. Valentine Mugun – Youth Leader at Global Partnership for Education


29. Mihret Walelgne – Youth Advisor at Mastercard Foundation


30. Zebiba Musema – Pan African Youth Leadership Program Adult Mentor

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Knife Capital closes $50 million Series B expansion fund to support African innovation

New Investments

Knife Capital closes $50 million Series B expansion fund to support African innovation

South African-based VC firm Knife Capital has closed its anticipated $50 million African Series B Expansion Fund. 

With the aim of fueling innovation and growth across the continent, Knife Capital’s Series B Expansion Fund has garnered substantial support from investors who are eager to tap into Africa’s burgeoning startup ecosystem.

This fund is designed to provide crucial financial backing to promising startups at a pivotal stage of their growth journey, helping them scale, expand their reach, and solidify their market presence.

A broad range of investors committed to Knife Fund III, including the team itself, the International Finance Corporation (IFC), the Mineworkers Investment Company (MIC), the SA SME Fund, and its new Venture Capital Fund of Funds.

Other investors include Standard Bank, AfricaGrow, Skybound Capital, Fireball Capital, and the Draper-Gain family office in partnership with Rand Merchant Bank.

Known for its proficiency in partnering with and nurturing startups, Knife Capital is poised to accelerate the growth of these ventures, thereby contributing to job creation, economic development, and technological advancement across Africa.

The fund is expected to cater to various sectors, including technology, healthcare, fintech, agri-tech, and more.

By doing so, Knife Capital is not only driving innovation but also contributing to addressing some of the most pressing challenges faced by the continent.

The closing of Knife Capital’s $50 million African Series B Expansion Fund comes at a time when global interest in African innovation and entrepreneurship is on the rise.

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Mobility fintech Moove secures $76 million funding to drive global expansion

New Investments

Mobility fintech Moove secures $76 million funding to drive global expansion

Moove, a leading technology-driven vehicle subscription platform, has raised an $76 million in its latest funding round consisting of $28m in equity from new and existing investors.

The substantial infusion of capital is set to propel Moove’s ambitious global expansion plans and enhance its innovative vehicle subscription offerings.

The funding round was led by Mubadala Investment Company (Mubadala), $10m venture debt from funds and accounts managed by BlackRock, and $38m in previously undisclosed funds raised during the prior twelve months.

This financial endorsement underscores the growing investor confidence in Moove’s disruptive business model and its potential to reshape the automotive industry.

Founded in 2020, Moove has been gaining traction for its unique approach to vehicle ownership, offering customers flexible and hassle-free vehicle subscription services.

Through its platform, customers can subscribe to vehicles on a monthly basis, providing an alternative to traditional ownership or long-term leasing arrangements.

The new funds will play a pivotal role in accelerating Moove’s international footprint.

The company’s expansion strategy aims to tap into various global markets, catering to diverse customer preferences and mobility needs.

The investment will also fuel the development of advanced technology solutions that enhance the user experience and streamline operations.

The success of this funding round not only highlights the attractiveness of Moove’s business model but also reflects the broader trends in the transportation and mobility sector.

As the automotive landscape evolves towards flexible and service-oriented solutions, Moove’s ability to secure significant funding underscores its potential to revolutionize how people access and utilize vehicles.

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As the CEO of OneHealth, she continues to inspire and pave the way for future health-tech entrepreneurs in Nigeria, showcasing the power of technology in improving healthcare outcomes and transforming lives.

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Cedric Atangana is a Cameroonian entrepreneur and technology innovator known for contributing to the African tech ecosystem.

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At Afrilabs, she is at the forefront of forging strategic collaborations that enable AfriLabs to extend its reach and impact across the continent.
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