Tag: Startup News

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Chari, a Moroccan e-commerce startup, raises $1.5 million to revolutionize the African retail industry

New Investments

Chari, a Moroccan e-commerce startup, raises $1.5 million with a goal to revolutionize the African retail industry.

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The startup secured the investment from Verod-Kepple Africa Ventures (“VKAV”).

Chari | YC S21 | Ecom and Fintech apps for retailers in Francophone Africa, a Moroccan startup aiming to revolutionize the African retail industry, has secured $1.5 million in funding to fuel its growth. Founded in 2020, Chari has developed an advanced e-commerce platform that aims to bridge the gap between traditional brick-and-mortar stores and online shopping experiences.

 

The startup’s cutting-edge technology and user-friendly interface provide customers with a seamless and personalized shopping experience while empowering local retailers to digitize their operations. The $1.5 million investment will be instrumental in supporting Chari’s expansion plans, which include scaling its operations.

 

In addition to financial backing, Chari will benefit from the extensive industry expertise and network of its investors following the appointment of Ryosuke (Rio) Yamawaki, a Partner at VKAV, as a Strategic Advisor to Chari.

 

 

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Nigerian fintech Zuvy secures $4.5 million debt funding to provide invoice financing for African SMEs

New Investments

Nigerian fintech Zuvy successfully secures $4.5 million in debt funding to provide African SMEs with invoice financing to fund its expansion in Africa

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Nigerian tech startup, Zuvy Technologies, has raised $4.5 million in a recent funding round to provide invoice financing for African SMEs.

Zuvy aims to bridge the gap between vendors and buyers by leveraging innovative digital solutions. The company’s platform provides a user-friendly marketplace that connects small-scale vendors with potential customers, enhancing accessibility and expanding the customer base for these entrepreneurs.

 

The startup’s latest funding round was led by TLG Capital, Dunbar Capital, David Mussafer (chairman of Advent International), Next Chymia Consulting HK Limited, Khalil Osman from Vicus Ventures, and others. The capital injection will enable Zuvy to scale its operations, improve its technology infrastructure, and drive customer acquisition efforts.

Zuvy aims to provide a platform that supports small-scale businesses’ growth while offering customers a superior shopping experience. Since its launch in 2021, Zuvy has steadily gained traction in the Nigerian market.

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MYDAWA, a leading Kenyan e-health startup, has raised $20 million to fund its mission of becoming an all-in-one health platform for consumers

New Investments

MYDAWA, a Kenyan e-health startup with an all-in-one health platform for consumers has secured $20 million to fund its expansion in Africa

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MYDAWA, a leading Kenyan e-health startup, has raised $20 million to fund its mission of becoming an all-in-one health platform for consumers.

The investment was made by Alta Semper Capital LLP, a dedicated frontier-markets private equity firm investing in flexible and strategic capital in healthcare and consumer opportunities. MyDawa aims to provide convenient access to quality healthcare products and services through its innovative online platform.

 

The company has gained prominence by offering customers a seamless experience of ordering prescription medication, over-the-counter drugs, health supplements, and personal care products, which are then delivered directly to their doorstep. The startup’s innovative approach has played a pivotal role in addressing the challenges faced by traditional brick-and-mortar pharmacies, such as long wait times, limited inventory, and counterfeit medications.

 

The e-health industry has witnessed substantial growth in Kenya and across Africa, driven by increasing internet penetration, the rise of mobile technology, and the growing demand for accessible healthcare services. MyDawa’s success story highlights the potential of digital health platforms to transform the healthcare landscape, ensuring that individuals can easily access essential medications and healthcare products.

 

With the new funding, MyDawa aims to expand its network of partner pharmacies, strengthen its supply chain capabilities, and further invest in customer support and user experience. The company also plans to explore strategic collaborations with healthcare institutions and insurers to create a comprehensive ecosystem that caters to the holistic needs of patients.

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Nuru, a leading renewable energy company, has secured over $40 million in funding to expand its efforts in providing access to clean and sustainable energy solutions

Key Developments

Nuru, has received funding of over $40 million to scale its renewable energy business in the DRC

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Nuru, a leading renewable energy company, has secured over $40 million in a Series B equity funding round. Nuru, a leading renewable energy company, has secured over $40 million in a Series B equity funding round.
 

This significant investment will empower Nuru to expand its efforts in providing access to clean and sustainable energy solutions in DR Congo, heralding a new era of progress and environmental stewardship. The funding round was led by prominent international investors, including the IFC – International Finance Corporation, The Global Energy Alliance for People and Planet (GEAPP), the REPP (Renewable Energy Performance Platform), Proparco, E3 Capital (formerly Energy Access Ventures), Voltalia, The Schmidt Family Foundation, Gaia Impact Fund, and the Joseph Family Foundation.

 

Founded in 2015, Nuru has emerged as a frontrunner in the renewable energy landscape, leveraging innovative technologies to deliver affordable and reliable energy solutions to underserved communities in the DRC. With this latest funding injection, Nuru is poised to accelerate its operations and make substantial strides in expanding renewable energy access, particularly in remote areas where traditional energy infrastructure is limited.

 

The investment will be utilized to bolster Nuru’s existing operations, including the deployment of additional solar power systems, the establishment of mini-grids, and the implementation of energy storage solutions. Nuru aims to address the diverse energy needs of communities, supporting households, businesses, and public institutions with reliable and sustainable power sources by adopting this multi-faceted approach,

 

As Nuru sets its sights on scaling up its operations, the Series B funding marks a turning point in the quest for widespread renewable energy access in the DRC. It serves as a beacon of hope, showcasing the potential of innovative solutions to address energy poverty while mitigating climate change’s adverse effects.

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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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IntiGo: The Tunisian e-mobility startup revolutionizing urban mobility for a sustainable future.

StartUp Spotlight

IntiGo: The Tunisian e-mobility startup revolutionizing urban mobility for a sustainable future.

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In this week’s edition of the startup spotlight, we feature Tunisian e-mobility startup IntiGo, which is making waves in the urban mobility sector with its innovative solutions.

Founded in 2018, IntiGo has swiftly emerged as a frontrunner in providing convenient and sustainable transportation options in urban areas. At its core, IntiGo aims to transform the way people move around cities by offering efficient and eco-friendly transportation services. Their mission is to alleviate the challenges associated with congestion, pollution, and limited mobility options, ultimately creating a more sustainable and livable future for urban communities. With a fleet of electric vehicles and advanced technology infrastructure, IntiGo offers on-demand ride-sharing and micro-mobility services tailored to the unique needs of urban dwellers. 

IntiGo’s impact on urban communities has been profound. By promoting shared transportation, IntiGo reduces the number of private vehicles on the road, leading to decreased traffic congestion and improved air quality. The use of electric vehicles further contributes to a significant reduction in carbon emissions, paving the way for greener and cleaner cities.

Additionally, IntiGo’s services have enhanced accessibility, particularly for underserved neighborhoods and areas with limited public transportation options. IntiGo’s commitment to sustainability extends beyond its operations. They actively partner with local governments, urban planners, and communities to develop smart transportation solutions that align with citywide sustainability goals.  In a world where urbanization is rapidly increasing, IntiGo’s dedication to providing efficient, eco-friendly, and accessible transportation options is crucial.

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Changing the Game: What Can Africa Learn From This Startup Disrupting Healthcare Access In Nigeria?

StartUp Spotlight

Changing the Game: What Can Africa Learn From This Startup Disrupting Healthcare Access In Nigeria?

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In this week’s edition of the startup spotlight, we feature Nigerian health-tech startup Wella Health.

With a mission to make quality healthcare accessible to all Nigerians, Wella Health is harnessing the power of technology to bridge the gap between patients and essential medical services. Founded in 2014, Wella Health is a Nigerian-based startup driven by a vision to revolutionize healthcare delivery. 

 

Under the leadership of Ikpeme Neto, they have set out on a mission to leverage technology and innovation to ensure that no Nigerian is left behind when it comes to accessing vital medical care. Wella Health created a user-friendly and accessible digital platforms that connect individuals with healthcare providers, making the process seamless and convenient.

 

Their flagship product, the Wella Health app, serves as a one-stop solution for Nigerians to find trusted doctors, book appointments, and receive personalized healthcare recommendations – all at their fingertips. By leveraging technology and human capital, they are breaking down barriers that hinder healthcare accessibility and ensuring that Nigerians can receive the care they need, regardless of their location or financial situation.

 

Wella Health has successfully connected thousands of patients with reputable healthcare providers, improving access to critical services such as primary care, mental health, and women’s health. Through their innovative platform, they are reducing waiting times, improving patient-doctor communication, and enhancing overall healthcare experiences for all.

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Unleashing the Power of Tech Education: How Ethiopia’s Gebeya is Bridging the Skills Gap and Driving Tech Excellence

StartUp Spotlight

Unleashing the Power of Tech Education: How Ethiopia's Gebeya is Bridging the Skills Gap and Driving Tech Excellence

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This week on the Startup Spotlight, we feature Gebeya, an innovative ed-tech startup based in Ethiopia.

Gebeya is revolutionizing the education landscape and empowering individuals to thrive in the digital era. At Gebeya, their mission is to bridge the skills gap and unlock the potential of talented individuals across Africa by providing them with high-quality tech education and connecting them with rewarding job opportunities.

 

Founded in 2016, Gebeya aims to democratize access to tech education and opportunities, particularly for underrepresented communities in Ethiopia. They aim to equip individuals with in-demand tech skills, foster a culture of continuous learning, and facilitate seamless integration into the digital workforce.

 

By doing so, they are building a future where talent knows no boundaries and every individual has the chance to thrive. Their comprehensive training programs have empowered thousands of students and professionals to acquire skills in software development, data science, AI, cybersecurity, and more.

 

Gebeya’s impact extends beyond individual success stories. By nurturing a skilled tech workforce, they drive innovation, foster entrepreneurship, and attract investment in Ethiopia’s tech ecosystem.

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