Tag: Startup News

Standard Bank has committed $10 million to the African Women Impact Fund (AWIF), a move aimed at empowering women fund managers across Africa.

Egyptian fintech startup Munify has successfully closed a $3 million seed funding round, spearheaded by the Silicon Valley accelerator Y Combinator, with backing from BYLD and Digital Currency Group (DCG).

Koolboks, a cleantech venture operating in Nigeria and France, has secured $ 11 million in Series A financing to expand its cooling-as-a-service model across Africa and establish its inaugural assembly facility in Nigeria.

Intella, the Egyptian-founded leader in dialectal Arabic speech AI, has raised US$12.5 million in a significantly oversubscribed Series A funding round.

Babban Gona, a leading agricultural technology social enterprise headquartered in Lagos, has secured a $7.5 million debt facility from British International Investment (BII), the United Kingdom’s development finance institution.

In a keynote delivered at the Tokyo International Conference on African Development (TICAD 9), Japan unveiled plans to mobilize $1.5 billion in impact investments to support African nations’ transition to sustainable development and reduced carbon emissions.

Inside Capital Partners, a prominent private equity group operating across southeastern Africa, has injected fresh capital into RDG Africa, a solar home systems and clean-energy firm active in Zambia and the Democratic Republic of Congo (DRC).

Finnfund, a Finnish development finance institution, has committed a $4 million debt investment to Kenyan internet provider Poa Internet to accelerate the rollout of affordable, high-speed broadband across underserved and low-income communities in Kenya.

Uncovered Fund, a Tokyo-based venture capital firm, has teamed up with Japanese financial services group Monex Ventures to roll out the Uncovered Monex Africa Investment Partnership (UMAIP)—a $20 million fund designed to fuel early-stage innovation across Africa and the Middle East.