Tage Kene-Okafor
In the face of South Africa’s worsening energy crisis, marked by increasingly severe power shortages, implementing daily electricity rationing has become imperative to avert the risk of a nationwide grid collapse. According to the state-owned power generator Eskom, the country witnesses a significant power deficit, surpassing 6,000 megawatts on...
Nigerian online teaching platform Klas has raised $1 million in pre-seed funding led by Ingressive Capital, with participation from Techstars, HoaQ Capital, and several angel investors. Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas enables users to create and sell ebooks, courses, and live classes.
The platform offers...
Nigerian fintech Cleva, focused on creating a banking platform for African individuals and businesses to receive international payments by opening USD accounts, has raised $1.5 million in pre-seed funding.
The round was led by 1984 Ventures, an early-stage venture capital firm based in San Francisco. Other participants in the round...
South African aerospace startup Cloudline has secured $6 million in funding as it aims to lead the global frontier of carbon emissions-free autonomous flight.
Schmidt Futures, the philanthropic venture founded by ex-Google CEO Eric Schmidt and Wendy Schmidt, is an investor in the seed round. Other backers include pan-African funds...
Pan-African e-commerce platform Jumia has disclosed its intention to discontinue its food delivery service, Jumia Food. The company said its food delivery business is not aligned with the current operational landscape and prevailing macroeconomic conditions in the seven markets, including Nigeria, Kenya, Uganda, Morocco, Tunisia, Algeria and Ivory Coast.
As...
Maka, an African fashion and beauty e-commerce platform, has raised a $2.65 million pre-seed round led by Pan-African venture capital firms 4DX Ventures and Janngo Capital. Other investors include Palm Drive Capital, angel investor Jonathan Shipman, founder of EVP and Twitch founding member, and executives from delivery platform Wolt.
In...
Egyptian online auto parts marketplace Mtor has raised $2.8 million in pre-seed investment led by MENA-focused venture capital firm Algebra Ventures. Other investors that participated in the round include Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital and other local and global angel investors, the startup said in a...
GoMetro, a South African tech company that operates in the fleet management space, has raised £9 million (~$11.4 million) in a Series A funding round led by Zenobē Energy, a strategic investor renowned for financing and operating electric buses.
Zenobē Energy also engages in large-scale battery projects for wind farms,...
It’s exciting times for growth-stage investment in Africa as Norrsken22, a Pan-African venture capital firm, achieves the final close of its debut fund, raising a total of $205 million, surpassing its initial target. This also highlights a keen interest from institutional investors in supporting African startups at an...
Obesity and prediabetes are major health concerns in Africa and the Middle East, affecting over 40% of the population. In Egypt, 20% of adults have diabetes; the figure in Saudi Arabia is 30%. In Nigeria, 1 in 17 adults has diabetes. The issue of prediabetes and obesity is...
