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[Free Webinar] Accelerating FX Success: Expansion Strategies for Marketing Agencies in Eastern, Western Africa
This event is tailored for marketing executives and CFOs looking to gain actionable insights into international expansion, building a global clientele and establishing strong online presence.
STHL East Africa bets on demand for power tools to grow revenues
German power tools manufacturer, STIHL East Africa, has reported a significant increase in revenue in its first year of operation since upgrading its marketing office to a fully-fledged sales subsidiary.
STIHL EA to invest Sh100 million to boost local manufacturing
Power tools manufacturer STIHL East Africa has announced it will invest Sh100 million in local accessories manufacturing every year as it seeks to localise its product development in the region.
[Column] Hardeep Sound: Close the tech skills gap to unlock East Africa’s economic growth
Is a lack of tech skills hampering East Africa’s economic growth? The World Bank data suggests that the digital economy contributes more than 15% of total global GDP.
African fintech Flutterwave secures two additional licenses in Rwanda
Flutterwave, Africa's payments technology company, has announced that it has received its Electronic Money Issuer and Remittance Licenses from the National Bank of Rwanda.
EG Capital announces anchor closing of its maiden fund to invest in startups across East Africa and Zambia
EG Capital, a growth-oriented private equity impact firm has announced the anchor closing of its first EG-Economic Empowerment Fund LP (EG-EEF), which will invest in medium-sized businesses.
African tech startup SeamlessHR picks Nairobi as its East African Hub
Nigeria’s tech startup SeamlessHR has launched its offices in the Kenyan market, choosing Nairobi as its East African Hub.
Nigerian fintech startup Pivo raises $2m seed round to accelerate growth
Nigerian fintech startup Pivo, announced the closing of $2 million seed round with participation from Precursor Ventures, Vested World, Y Combinator, FoundersX and existing investor, Mercy Corp Ventures.
Tanzanian CPG startup Ramani raises $32m to digitize supply chains
Ramani, a Tanzanian startup focused on consumer-packaged goods (CPG) supply chains, has raised $32 million in Series A debt-equity funding to introduce new financial services as it expands its operations.
Kenyan fintech startup Tanda announces agency banking entry in Uganda, Rwanda, Tanzania
Kenyan fintech startup Tanda announced plans for agency banking entry in Uganda, Rwanda, Tanzania to accelerate growth within the East African markets.
Project points East African women livestock holders to cost effective vaccines
To address these barriers faced by women in East Africa, and generate new evidence on how they can better benefit and participate in these systems, SheVax+ – a regional livestock vaccine initiative – was launched in 2019.
Ugandan agritech startup Inputi receives investment to boost inputs distribution
Ugandan agritech startup Inputi announced it received an investment funding to boost inputs distribution across the country.
Ugandan fintech startup Tugende raises $10m pre-Series B funding to increase portfolio growth
Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding from existing shareholders led by Partech and two new investors, including Women’s World Banking.
German manufacturer The Stihl Group enters Kenyan market
The subsidiary dubbed Stihl East Africa will be its Eastern Africa hub servicing countries that include Kenya, Uganda, Tanzania, DRC, Rwanda, and Burundi among others.
Kenyan-based startup FaidiHR secures funding, eyes expansion
The startup, which offers digital human resource solutions to African companies, said they would use the investment to expand their business in East Africa, eyeing entry into Uganda, Tanzania and DRC.
Ugandan fintech platform Tugende closes pre-Series B investment round to accelerate growth
Tugende, the East African fintech platform providing asset financing and digital services to small businesses, announced it has raised a pre-Series B investment round led by current shareholder Partech Africa.
Nigerian fintech startup Grey partners with Cellulant for East Africa expansion
Nigerian fintech startup Grey, announced the launch of its service to East Africa starting with Kenya in partnership with payments company, Cellulant.
Microsoft launches accelerator program for East and West African startups
Microsoft has announced a new partnership with GreenHouse Labs to facilitate the acceleration of African startups that are at the pre-series A stage.
On-demand transport platform Bolt launches 2nd edition of its Women in Tech internship program in Kenya
On-demand transport platform Bolt announced it has rolled out the second edition of its Women in Tech internship program in Kenya.
Uganda is the happiest country in East Africa, Happiness Index
Uganda topped the position as the happiest country in the East African Region while Tanzania dropped further to position 139 compared to position 94 the previous year.
Kenyan retail tech startup MarketForce raises $40m Series A to scale up super app for Africa’s informal merchants
MarketForce, the Nairobi-headquartered B2B platform for retail distribution of consumer goods and digital financial services in Africa, announced the closing of a $40 million Series A round.
Kenyan BNPL startup Lipa Later secures $12m funding to expand across Africa
Lipa Later, one of it’s kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda and Nigeria, has raised $12 million from a consortium of investors.
AUDA-NEPAD, JICA, Afreximbank & BCG partner to support 5 East African healthcare startups
The 5 healthcare startups were feted for their completion of the Home Grown Solutions (HGS) Accelerator for Pandemic Resilience.
Kenyan-based Penda Health partners with femtech e-Commerce startup Kasha to ease contraceptive access for consumers
Healthcare solution provider Penda Health announced a partnership with Rwandan femtech e-Commerce startup Kasha, to enable increase access to contraceptive products via the Kasha digital platform.
English cyber security startup CultureAI raises $4m seed round to measure and mitigate human cyber security risk
CultureAI, the human cyber security platform founded by professional hackers, announced the closing of a $4 million Seed round to fuel its rapid growth.
[Startup Interview] Sophie Tarif, Nina van Boxtel, Founders, BOETIEK, Netherlands
BOETIEK, a Dutch startup, works with local boutiques and brands to increase audiences and increase online sales. The platform offers a wide range of products and services from latest fashion trends to new online boutiques and concept stores.
[Startup Interview] Dave Withers, CEO, Vertis, USA
Vertis is a US-based startup that leverages billions of data points and proprietary data science to help business leaders implement data-driven talent and location strategies.
Heritage enters strategic partnership with insurtech startup Slide to accelerate growth
Heritage Insurance, a super-regional property and casualty insurance holding company, announced it has entered into a strategic partnership with Slide, a startup InsurTech P&C carrier led by Bruce Lucas, Heritage's former Chairman and CEO.
Wellington-based metal casting startup Foundry Lab emerges from stealth, raises $8m Series A round
Digital metal casting startup Foundry Lab emerged from stealth, announcing a $8 million Series A raise led by Blackbird and showcasing its ability to create functional metal parts in less than a day.
French high-tech startup PlanetWatch selects city of Miami to deploy air quality monitoring network
PlanetWatch, the world's first decentralized indoor and outdoor air quality monitoring network built on the Algorand blockchain, has selected the city of Miami to deploy a network of its sensors citywide.
Canadian startup OutPoint raises $1.2m to help high-growth brands improve paid marketing effectiveness
OutPoint, an automated media mix modeling (MMM) platform, announced it raised $1.2 million in pre-seed funding to transform how high-growth consumer brands measure paid media effectiveness and diversify marketing investments.
Axelar secures investment from Crypto.com Capital to bolster its efforts to connect blockchain ecosystems
Axelar, the universal interoperability network connecting all blockchain ecosystems, applications, assets, and users, announced it has secured a strategic investment from Crypto.com Capital, the investment arm of cryptocurrency giant Crypto.com.
Lithuanian peer-to-peer crypto-asset swapping startup 123swap closes $210k seed round
Lithuanian peer-to-peer crypto assets swap platform123swap Finance announced it closed $210k seed round funding from a number of angel investors, including Becker Venture Capital and Steven Becker.
Estonian startup Gelatex raises €1.2m seed round for affordable and scalable manufactured cell-cultured meat
Estonian startup Gelatex announced it raised €1.2m seed round for affordable and scalable manufactured cell-cultured meat, making it cheaper than ever.
Croatian AI startup Mindsmiths receives $1.4m seed funding to develop and expand its ASS platform
Globally awarded Croatian AI startup Mindsmiths received $1.4 million in seed funding from Feelsgood investment fund which supports companies with proven positive social impact.
Chinese gaming and entertainment startup Talon closes $5m Series A funding to accelerate growth
Talon, the Hong Kong headquartered competitive gaming, entertainment and culture brand announced it has secured $5 million in equity capital in its Series A financing round.
KingsCrowd partners with Backstage Capital to educate new generation of startup investors
KingsCrowd, the online private market's first and only data-driven ratings and analytics platform, has reached a strategic partnership with Backstage Capital, to educate a new generation of startup investors.
Bio-material tech startup Cruz Foam closes $2.5m seed funding to accelerate circular protective packaging solutions
Cruz Foam, a mission-driven sustainable materials company, announced it has closed $2.5 million in seed funding in a raise led by At One Ventures to enable the transition toward a circular economy.
Robotics startup HaptX raises $4m investment from Crescent Cove Advisors to accelerate expansion
HaptX, the provider of realistic haptic gloves for VR and robotics, announced it has secured a $4 million credit facility from Crescent Cove Advisors, bringing HaptX's Series A funding to $28m, and the company's total funding to $35m.
Kenyan fintech startup Asilimia raises $2 million funding to expand into new markets
The startup raised $1 million in pre-seed funding from a wide range of investors, including two-time unicorn founder, Fredrik Jung Abbou (co-founder of Kry and Lendo), Norrsken Impact Accelerator and other prominent founders from across Europe.
Agritech startup FarmSense receives $2.2m SBIR funding for development of biosecurity measures against native and invasive pests
FarmSense, the agritech startup and creator of Smart Flight Sensors, announced it has been awarded Small Business Innovation Research (SBIR) funds in the amount of more than $2.2 million.
Brazilian fintech startup TruePay raises $32m Series A funding for team and product development
TruePay, a Brazilian startup whose innovative payment solution helps small and medium sized retailers have free and secure access to credit, has raised $32 million in Series A funding led by Addition.
Miami-based VC firm Borderless Capital closes $10m PLANETS.Fund to build green data economy on Algorand
Borderless Capital, the Miami-based venture capital firm dedicated to the Algorand ecosystem, announced the closing of PLANETS.Fund, a $10 millionn fund focused on building a green data economy.
Kigali-based agriculture startup AflaSight, partners launch innovative projects to improve maize quality in Rwanda
The World Food Programme, IFC, Kigali-based agriculture startup AflaSight, and research firm Vanguard Economics launched innovative projects to help farmers and grain traders reduce the prevalence of aflatoxins in crops and grains in Rwanda.
Toronto-based mobility startup Treepz expands to East Africa, acquires Uganda's Ugabus
In a bid to digitize the public transportation system and provide safer, reliable and comfortable commute options across Africa, Toronto-based shared mobility company Treepz, announced its acquisition of a similar Ugandan bus company Ugabus.
Africa-based cryptocurrency exchange Busha raises $4.2m seed round to deepen its market positioning
Africa-based cryptocurrency exchange Busha, raised $4.2 million seed round led by Jump Capital. Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and other investors also participated in the financing round.
Israeli foodtech startup Imagindairy closes $13m seed round to advance animal-free dairy
Imagindairy, a foodtech company creating milk proteins identical to those from cows, announced completion of a $13 milion seed round, led by MoreVC, a leading seed stage investor in Israel managing $275 million across three funds.
Crowd Capital joins FinHealth US 2021 accelerator program for early-stage startups
Crowd Capital has been selected to participate in FinHealth US 2021. This will enhance Crowd Capital's mission to offer families facing financial hardship.
Fintech startup and shareholder loyalty pioneer TiiCKER launches Android app
TiiCKER hit the trifecta with the addition of an Android app to its web and iOS portals, giving America's estimated 130 million retail investors instant access to loyalty rewards.
Kenyan gaming startup Usiku Games develops Africa’s first mobile football game
Kenyan gaming startup Usiku Games unveiled an amateur football mobile game to promote outdoor physical activities and encourage sportsmanship among youths in East Africa.
South African fintech firm Ozow raises $48m Series B round to accelerate growth
South African fintech firm Ozow raised $48 million Series B funding round led by Chinese internet giant Tencent. Other investors Endeavor Catalyst and Endeavor Harvest Fund participating also participated in the round.
Seattle-area startup Lassen Peak raises $10m seed funding for weapons search technology
Seattle-area startup Lassen Peak announced the completion of Seed financing of $10 million with Alpha Intelligence Capital, Lauder Partners, Orbit Venture Partners, and other strategic seed investors participating in the investments.
Virginia medtech and sportstech startup OxiWear closes pre-seed funding round at $1.25m
OxiWear announced it successfully closed a pre-seed funding round at $1.25 million, oversubscribed above its goal of $750,000.
World's innovation platform Plug and Play launches in Basel, Switzerland
The largest innovation enabler in the world, Plug and Play, announced the launch of a new office in Basel, Switzerland, in partnership with the first Founding Partner, uptownBasel.
Israeli Medical device startup Filterlex closes $6m Series A1 investment to accelerate CAPTIS cardiovascular clinical program
Filterlex Medical, a cardiovascular medical device startup, announced it completed a $6 million series A1 investment round from private healthcare investors.
London-based healthcare startup Gravitiq raises $55m seed round to expand portfolio of e-Commerce healthcare brands
Gravitiq, the doctor-founded and led healthcare brand aggregator, announced the close of its seed funding round, raising a total of $55 million.
Crypto Valley Venture Capital initiates investment strategy to build blockchain accelerator for African startups
African blockchain disruptors and early-stage startups have joined CV Labs Global Incubation Program Batch 03. The African contingent of incubatees is reflective of Crypto Valley Venture Capital’s (CV VC) global investment strategy.
GROWMARK and CHS launch Cooperative Ventures to drive technology advancements for agritech startups
GROWMARK and CHS announced the formation of Cooperative Ventures, a new capital fund that will focus on creating advancements in breakthrough technologies for the agriculture industry.
Nigerian healthtech startup Helium acquires doctor booking platform Meddy
Helium Health (Helium), the healthcare technology provider in Africa, announced it has completed the acquisition of Meddy, the GCC-based doctor booking platform, which has operations in Qatar and the U.A.E.
Fort Ross Ventures announces first closing of $200m late-stage fund
Fort Ross Ventures, an international venture-capital firm focused on startups in the U.S. and Israel, announced the $100 million first closing of its late-stage fund.
Israeli logistics AI startup Amphorica partners with Swiss investor Falco Capital to accelerate growth
Falco Capital and Amphorica jointly announced the closing of a capital investment and cooperation agreement. As part of the agreement, Amphorica appoints Falco Capital partner Peter Salzer, as Director of the company's board.
Illumina and Sequoia Capital select first startups to join Genomics Incubator in China
Illumina and Sequoia Capital China, an investment firm, jointly announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina.
Israeli femtech startup illumigyn partners with Peramare Pharmaceuticals to bring innovative gynecological imaging platform to Nigeria
illumigyn, world's first remote gynecological imaging platform, announced its new distribution agreement with Peramare Pharmaceuticals Nigeria, to deploy 5,000 Gynescopes in Nigeria by 2026.
Robert Bosch Venture Capital GmbH joins Variantyx's $26m Series C funding round
Robert Bosch Venture Capital GmbH, the corporate venture capital company of the Bosch Group, has completed an investment in Variantyx, to improve personalized oncology treatment.
Indonesia's Hypefast emerges from stealth mode as the largest house of e-Commerce native brands in Southeast Asia
Hypefast, Southeast Asia's (SEA) largest house of e-Commerce native brands, announced it has grown its portfolio to more than 25 brands and has been achieving full profitability.
Israeli startup EasySend raises $55.5m to help enterprises build, maintain digital customer journeys with its no-code platform
EasySend, a no-code digital customer journey platform announced a $50.5 million Series B funding round led by Oak HC/FT. Existing investors Vertex IL, Intel Capital, and Hanaco Venture also participated in the round.
Firmware security startup NetRise emerges from stealth with $6.8m seed round
NetRise, the company solving the world's firmware security problem, has emerged from stealth by closing their $6.8 million Seed Round led by Miramar Digital Ventures, with Sorenson Ventures, DNX Ventures and multiple strategic angels.
AI-informed physical security startup Hakimo raises $4m seed round
Hakimo, an AI platform designed to bring cybersecurity-like tools to the physical security industry, announced $4 million seed funding.
Finnish heathcare startup Valo Tx raises €11m to advance PeptiCRAd immunotherapy platform into the clinic
Valo Therapeutics Oy (Valo Tx), the developer of novel, adaptable immunotherapy platforms for cancer and infectious diseases, raised €11 million in an oversubscribed Pre-IPO funding round.
Japanese VR startup HIKKY raises $57m Series A funding to expand its services domestically and abroad
Virtual reality (VR) startup and organizers of VR events in the world HIKKY raised 6.5 billion yen ($57 million) in an initial stage of its Series A funding round.
BrokerTech Ventures accelerator opens for 2022 cohort applications
BrokerTech Ventures (BTV), the industry's first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry, has opened the application window for its 2022 BrokerTech Ventures Accelerator program.
Kenyan fintech startup Kwara launches regional offices to reach SACCOs across the country
Kenyan fintech startup Kwara opened regional offices in the Western, Central, Rift Valley and Coastal regions of Kenya as part of its expansion in the country.
South Africa's emergency marketplace startup AURA secures R62m Series A funding for global expansion
AURA, the African-based security and medical response marketplace secured R62 million in a Series A funding round, led by MultiChoice Group (MCG), KLT Holdings and Buffet Investments, positioning AURA favourably for its global expansion plans.
Home fashion startup Modern Matter raises $1.2m seed round to accelerate growth of its e-Commerce platform
Modern Matter, a design company and manufacturer of decorative and architectural hardware, raised $1.2 million in seed capital. Modern Matter collaborates with leading designers to develop exclusive hardware designs for luxury homeowners.
Healthtech startup Sigrid Therapeutics raises $8.4m from US, Irish and Swedish investors for diabetes breakthrough
Swedish healthtech startup Sigrid Therapeutics is set to prevent two of the world's biggest health challenges, type 2 diabetes and obesity with its SiPore15® powder.
Investor Advisor Seed Ventures closes first round
Investor Advisor Seed Ventures (IA Seed Ventures) announced the first closing of its new venture fund with investments in five companies. These deals mark the beginning of active investment for this new network of accomplished investors.
South African fleet-tech startup KeyTec and LocoNav enter Africa's video telematics market
South Africa fleet-tech startup KeyTec has partnered with LocoNav to capture the emerging and high-growth video telematics market throughout Africa.
Kenyan Mental health startup Shamiri Institute raises $1m, expands to the rest of Africa
Shamiri Institute, a Kenyan mental health startup has raised $1 million in funding from the Templeton World Charity Foundation to tackle the scourge of mental health in Kenya and the rest of the African continent.
Community knowledge sharing startup 7th Ave raises $2.5m seed round
7th Ave, a knowledge sharing platform for Black professionals, creatives, entrepreneurs, and students announced a $2.5 million seed round to create a space where mindful discovery, discussion, and community take place.
Compliance startup Laika raises $35m Series B to help companies ace security audits
Laika, the industry's first unified compliance-as-a-service platform, announced it has closed $35 million in Series B funding led by J.P. Morgan Growth Equity Partners with participation from PayPal Ventures.
London-based insurtech startup Collective Benefits announces $10m investment from Prosus
Collective Benefits, an insurance and benefits marketplace for independent workers, announced a $10 million investment from Prosus Ventures, the venture investing arm of Prosus, one of technology investors in the world.
Indian full-stack agritech startup DeHaat raises $115m Series D round
DeHaat, the technology-based platform offering end-to-end agricultural services to farmers in India, announced it has raised $115 million in Series D funding, led by Belgium based investment firm Sofina and Lightrock India.
Romanian startup Flip lands €1.5m from Prosus-owned eMAG, plans CEE leadership in refurbished products
Flip, a Romanian startup in the Recommerce market, landed the first eMAG Ventures accelerated investment worth 1.5 million euros and targets the leading position in Central and Eastern Europe.
Israeli medical device startup Innoventric wins Horizon Europe Grant, secures $14m Series A investment
Israeli medical device startup Innoventric, secured $14 million through its Series A financing, including the prestigious Horizon Europe Grant for the sum of €2.5 million.
Berlin-based investment platform Moonfare raises $125m Series C to accelerate global growth
Moonfare, the digital private equity investment platform for individual investors, raised $125 million in Series C funding, led by New York-based Insight Partners, to continue to develop innovative investment solutions and accelerate its international expansion.
Kenyan fintech startup Kwara partners with Lami Technologies to give SACCO members access to insurance products
Kenyan digital banking fintech startup Kwara has partnered with insurance technology company, Lami Technologies, to provide SACCO members with affordable and transformational insurance products.
Four Ghanaian startups join the Catalyst Fund Inclusive Digital Commerce accelerator
Four startups from Ghana have joined The Catalyst Fund Inclusive Digital Commerce Accelerator, a programme that supports innovators building digital commerce solutions.
Kenyan-based payroll startup Workpay expands to Nigeria
Workpay, a Nairobi-based YC graduate, is expanding its operations to Nigeria. The cloud-based workforce management startup will now offer Core HR, Payroll, and employee record services to organizations in the country.
DFC invests $1m in femtech e-commerce startup Kasha Global to support women’s health in East Africa
The U.S. International Development Finance Corporation (DFC), disbursed a $1 million equity investment in Kasha Global, an e-commerce company that provides women’s health and personal care products to customers in Rwanda and Kenya.
Kenyan logistics startup Amitruck secures pre-seed funding for expansion across East Africa
Kenyan trucking logistics marketplace startup Amitruck secured an undisclosed investment led by US-based Dynamo Ventures with participation from Plug and Play Ventures and a collection of strategic angel investors.
Interviews.
[Interview] Caroline Mutuku, General Manager, Glovo, Kenya
Caroline Mutuku is Kenya's General Manager of multi-category app Glovo. Caroline joined Glovo in December 2022 from Swvl Kenya where she also served as the General Manager from December 2021. In this interview...read more here
[Interview] Renate Swanepoel, COO, INC. Networking
Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose. She has gained significant networking and communication...read more here
[Interview] Anne-Marie Chidzero, Chief Investment Officer, FSD Africa
Anne-Marie Chidzero is the Chief Investment Officer at the Financial Sector Deepening Africa (FSD Africa) Investments. In this interview, she talks about the risks and opportunities in backing Africa’s early-stage startups...read more here
[Interview] James Kilpatrick, Chair, Gravitilab, UK
Gravitilab is a "Space as a Service" business providing research, testing and qualification facilities to space agencies, government, academia and commercial enterprises. The company’s Chair and Chief Finance Officer...read more here
[Interview] Ramanjeet Singh, CEO, Woosper, USA
Woosper is a US-based digital advertising and marketing agency focused on creating experiences that help clients discover their place in the digital world. The CEO Ramanjeet Singh...read more here