Startups
Startups

Kenya’s Ilara Health Raises $4.2M to Expand Clinic-Support Services and Improve Healthcare Access

Kenyan health tech startup, Ilara Health, has secured $4.2 million in debt-equity funding in a pre-Series A round led by DOB Equity, with participation from the Philips Foundation and existing investors. The funds will be utilized to scale operations within Kenya, aiming to enhance healthcare access through a B2B health and occupational service. Ilara Health, […]

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Startups

Ventures Platform names Damilola Teidi as Head of Platforms and Networks

Damilola Teidi has been appointed as the first-ever Head of Platform and Networks for African venture capital firm, Ventures Platform. Teidi, who before joining Ventures Platform was Director of Startup Support at Co-creation Hub, will now oversee the venture firm’s efforts to support its portfolio companies. She will lead a team focused on building and […]

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Business Startups

Kenya’s ARA drops fraud and laundering allegations against Nigerian fintech Korapay

Kenya’s Asset Recovery Agency (ARA) has dropped the allegations of laundering and fraud leveled against Korapay, a Nigerian payment company (TechCabal). In July, the ARA, which is charged with identifying and confiscating proceeds of crime committed in the East African country, had brought two separate suits against Korapay and Kandon Technologies Limited, another Nigerian fintech […]

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Startups

€30 million fund generated by Satgana to support African climate tech startups

A European venture capital (VC) firm headquartered in Luxembourg, has closed a €30 million fund to fund startups that tackle climate change problems in Africa. The fund will do so by investing up to €500K in the pre-seed and seed stages of startups across Europe and Africa.  The VC will leverage the network of its […]

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Startups

Google launches accelerator for circular-economy focused startups

Tech giant Google is launching a new startup accelerator that will be focused on the circular-economy. The project will aid Google in its stride on environmentally centered startups. The circular-economy is an alternative in how we produce and consume our goods. Instead of traditionally making products, using them and then discarding off their remains as […]

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Startups

Food procurement company Vendease raises $30 million in seed funding

Nigerian food procurement platform Vendease has raised $30 million in its Series A funding round which it aims to use in deepening operations and launching better services. Vendease, which was founded in January 2020, entered the market with the purpose of creating a platform that connected farms and food suppliers to restaurants and food businesses, […]

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Finance Startups Technology Venture Capital

Nigerian B2B fintech, Duplo, raises $4.3 million in seed round

Duplo, a Nigerian B2B payments startup, has raised $4.3 million in seed funding. This comes only seven months after the company announced a $1.3 million pre-seed investment, bringing its total funds raised to $5.6 million. According to the company, the funds will be used to launch new products and expand into new business areas in […]

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Startups Technology Venture Capital

Pezesha, a Kenyan Fintech, raises $11M with backing from Women’s World Banking, and others

Following an $11 million pre-Series A equity-debt round led by Women’s World Banking Capital Partners II and with participation from Verdant Frontiers Fintech Fund, cFund, and Cardano blockchain builder Input Output Global, Kenya’s embedded finance fintech Pezesha expands into Nigeria, Rwanda, and Francophone Africa (IOG). Talanton and Verdant Capital Specialist Funds also contributed $5 million […]

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Startups Technology

Risevest CEO and co-founder steps aside indefinitely following allegations of misconduct

Following allegations of sexual and non-sexual misconduct, an investor investigation panel has advised Risevest co-founder Eke Urum to step down as CEO. According to Techpoint Africa, this was confirmed in an official statement dated August 19, 2022, and also revealed that Tony Odiba, the startup’s Head of Operations, will serve as interim CEO.A three-person panel […]

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Startups Technology Venture Capital

Nigerian fintech startup, Grey, raises $2 million in seed funding

Grey, a Nigerian fintech startup, has raised $2 million in seed funding to expand into new African markets. According to the one-year-old company, the funding will also allow it to expand its product suite to include remittances and person-to-person and business-to-business payments, allowing every African to enjoy seamless cross-border payments with low fees. Y Combinator, […]

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