Nigerian diagnostics startup Stack Dx has raised of funding from early-stage fund Microtraction to help it expand its market share. The Nigerian early-stage investment fund Microtraction, invests up to US$65,000 in two stages in early stage startups.
The journey of Copia started back in 2013 with a simple question: How do you get goods to people who live in rural areas and whose only access to shopping is a general store or vendor in the nearest village? In fact, there are three billion middle and low-income consumers at the base of the economic pyramid in the developing world.
MallforAfrica is the only e-commerce platform in Africa that provides access to UK stores and US directly. The platform has over 8.5 billion items for sale from over 150 UK and US stores. Some of the retailers include Amazon, Carters, Fashion Fair Cosmetics, Topshop UK, Barneys, Footlocker, Sports Direct, M&S, Bloomingdale’s, J. Crew, among others.
The Pan-African entrepreneurial training program, seed fund and tech incubator, Meltwater Entrepreneurial School of Technology (MEST), has launched its fourth incubator and tech hub in Nairobi, Kenya. The incubator will provide the same on-the-ground support, access to resources and global MEST network.
Norway-based Katapult Accelerator has selected three African startups from Kenya, Egypt and Tunisia to join its third cohort of 12 start-ups from around the world. The start-ups from Africa include Kenyan cloud-based core banking system FinAccess, Egyptian low-immersion virtual reality science labs PraxiLabs, and Tunisia’s Think.iT, which helps companies build top-performing engineering teams by investing in North Africa’s future technology leaders.
Goodwell Investments has launched a new EUR 20 million fund, aiming at investing in the inclusive economy in Sub-Saharan Africa. The launch of the fund is launched as a result of the growing demand for impact investments from private investors, family offices and foundations.
Paystack, the Nigerian fintech start-up providing payments tools to businesses across Africa, has raised $8 million in Series A funding. The round was led by U.S.-based online payments software company Stripe, and includes Tencent and Y Combinator, as well as angel investors Tom Stafford, Managing Partner at DST Global, Gbenga Oyebode The Founding Partner of Aluko and Dale Mathias Co-founder at Innovation Partners Africa).
Honeywell Group has officially launched its Itanna, a new accelerator in Lagos. The accelerator program will be led by Tomi Otudeko, Head of Innovation and Sustainability in Honeywell Group. Itanna will roll out four-month innovation programme for tech-enabled Nigerian startups from its newly built Enterprise Factory in Lagos.
Microsoft Invests in Three African Start-ups Delivering Internet-connected Solutions to Rural Communities
Microsoft has invested through its Airband Grant Fund, an undisclosed amount in three African based start-ups providing internet access and cloud-enabled solutions to underserved African communities. The three start-ups were part of eight startups from the US, Africa and Asia that the company has invested. The three startups include Mesh Power from Rwanda, ColdHubs from Nigeria and Agsol; which is registered in Hong Kong and Australia and has operations in Kenya.
Sokowatch is a B2B e-commerce platform connecting African retail stores with multinational companies such as Unilever and Procter & Gamble. The start-up ’s mission is to empower the informal retail sector to join the digital economy. Launched in Nairobi in 2016, Sokowatch allows storeowners to order fast-moving consumer goods at any time through SMS or mobile app for same-day delivery.
US-based innovation and start-up consulting firm Quesnay is calling Female Founders for its second Tech Competition. The competition is backed by Farmers Insurance, CSAA Insurance Group, Liberty Mutual Insurance, RGAX and QBE Insurance. The competition aims to address the gap in female leaders by recognizing and supporting female-founded startups that impact the financial services and/or insurance technology industries.