Week in review
Instabug bags big, Applications for 2nd Cohort of Google for Startups Black Founders Fund for Africa, AutochekAfrica acquires Morocco-based Kifal Auto
The Week in Review is designed to inform curious minds interested in the latest activity in the African innovation ecosystem.
Funding Rounds 🚀
Instabug raises $43m | SaaS | Egypt - a startup that aims to help mobile developers monitor, identify and fix bugs within apps.
Nile raises $5.1m |Agri-tech| South Africa - enables buyers to purchase directly from Africa’s leading food producers through its marketplace.
Victory Farms raises $5M | Aquatech | Kenya - an aquaculture startup and farm for tilapia fish comprising hatcheries, nursery ponds and deep-water cages.
Bamba raises $3.2m | SaaS| Kenya - a mobile-based enterprise software for African micro-merchants.
Topship raises $2.5m | Logistics| Nigeria - Online freight forwarding platform.
Doxx raises $1.5m | e-health| Egypt - Doxx as developed a medical record compilation service, bringing together a network of 2,600 doctors, 52 pharmacies and 26 medical labs. Doxx allows users to book physical and virtual appointments, and track their consultations while choosing the best medical care through recommendations based on their medical history.
Zuri raises $1.3m | e-health| Kenya - a virtual, mobile-first, on-demand healthcare platform that helps patients quickly and easily access healthcare from certified healthcare providers, based on availability, location, and specialisation.
Flexpay raises undisclosed amount | Fintech| Nigeria - Flexpay operates an online and offline payment platform that offers convenience through bank and mobile payment options.
RapidDeploy secures undisclosed amount | Software | South Africa - open and integrated response platform, transforming first responder communications centres of any size into data-centric organisations.
🔦 Startup Spotlight: Bamba
What❓: Bamba is an android application allowing merchants to run their entire business from their phones. It focuses on simple tools for merchants to manage their customers, get paid, payout as well as takeout cash advances against their future cash flow.
Traction📈 : Currently in stealth. No traction reported.
Market opportunity 🌍 : In 2021, registered and unregistered merchants accepted over $250Bn in mobile money payments, recording rapid growth. The mixture of receiving/paying out cash or mobile money creates new complexities for merchants; however, it also creates opportunities to digitalise business payment and record-keeping processes further.
Competition⚡️: Sabi Cash, Bumpa, Kippa, Leja App, OZÉ.
Investors: 468 Capital, Presight Ventures and Jigsaw
🗞 Other News
Applications open for 2nd cohort of Google for Startups Black Founders Fund for Africa. The Black Founders Fund Africa is open to startups that meet the eligibility criteria in Botswana, Cameroun, Ivory Coast, Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda and Zimbabwe. Selected startups will receive between US$50,000 and US$100,000 non-dilutive cash awards, and up to US$200,000 per startup in Google Cloud credits, support in the form of training, and access to a network of mentors.
M&A
AutochekAfrica acquires Morocco-based Kifal Auto - Nigerian auto-tech startup Autochek has acquired Moroccan counterpart KIFAL Auto to drive its expansion into the North Africa region.
📢 Tell a friend to tell a friend 📩
The Week in Review is designed to inform curious minds interested in the latest activity in the African innovation ecosystem.