The Latest from Tage Kene-Okafor
As the global venture capital market slows, Africa charts its own course
Experts say that most recent deals were finalized months before macroeconomic challenges hit the global VC landscape. This means there’s a lag in what’s reported as the current state of VC in Afri
A look into the British DFI’s plan to invest in African economies, venture funds and tech startups
On April 4, the U.K.’s development finance institution, Commonwealth Development Corporation (CDC) Group, formally changed its name to British International Investment. As part of the name change, t
Sava, a spend management platform for African businesses, gets $2M pre-seed backing
When Yoeal Haile started Aspira, a lending service, in 2017, he wanted to give Kenyans more choice about buying stuff on credit. The business eventually grew to a point where it offered over $1 millio
Kukua, creators of ‘Super Sema,’ raises $6 million, led by Alchimia and Tencent
Kukua, a Nairobi- and London-based educational entertainment company and the creators of “Super Sema,” the first African animated superhero franchise, has raised $6 million in its latest round of
Egyptian healthtech startup Vezeeta cuts 10% of 500-person staff
Vezeeta, a healthtech startup operating in the Middle East and Africa, reportedly laid off about 10% of its staff last week. The number of affected employees isn’t known; however, multiple sources
TLcom Capital appoints Eloho Omame as partner to back more pre-seed and female-led startups
Africa-focused venture capital firm TLcom Capital has appointed Eloho Omame as a partner six months after announcing the first close of TIDE Africa Fund II, its $150 million second fund (it expects to
Zenysis raises $13.3M to scale its big data platform for emergencies across Africa, Asia and South America
Zenysis Technologies, a big data startup headquartered in San Francisco and Cape Town, announced today that it has closed $13.3 million in a Series B round. The financing was led by the Steele Founda
African health tech startups in the supply chain segment show rapid growth, spurring a $7M investment initiative
While Africa’s health systems are still reeling from the effects of the COVID pandemic, the adoption of digital health services has been revved up in some countries. Telemedicine, the standout offer
Thepeer, an API-based startup that connects African businesses, raises $2.1M, led by Raba Partnership
Thepeer, an African tech infrastructure startup connecting businesses’ wallets, has raised a $2.1 million seed round led by the Raba Partnership. The news comes a year after the startup raised $220,
Nigerian at-home lab testing platform Healthtracka gets $1.5M, backed by female VCs
According to this World Health Organization (WHO) article on treating cancer, detecting symptomatic patients as early as possible gives them the best chance for successful treatment. Though the piece
Sequoia Capital India and Founders Fund back UAE-based proptech startup Huspy in its $37M round
Founders Fund has made its first investment in the Middle East by backing UAE-based proptech startup Huspy. The $37 million Series A round, one of the largest at this stage in MENA, was led by Sequoia
Afropolitan raises millions from Balaji Srinivasan and others to build a digital nation
Last April, Balaji Srinivasan, a high-profile figure in the crypto space and the ex-CTO of Coinbase, wrote a piece titled “How to Start a New Country” in the 21st century. His view was that this n
Jumia’s venture into quick commerce could slow its path to profitability
Some investors believe African e-commerce giant Jumia is light-years from achieving profitability, and it’s not difficult to understand their perspective.
Khazenly, an Egyptian on-demand warehousing and fulfillment platform, raises $2.5M seed funding
The e-commerce market in Egypt is expected to grow 30% to $7.5 billion this year, spurred by a growing number of younger shoppers and rising incomes. Local merchants are essential in driving this grow
MFS Africa raises additional equity and debt capital to take its Series C to $200M
Pan-African digital payments network MFS Africa has raised $100 million in equity and debt, additional funding that takes its Series C round to $200 million. African investment manager Admaius Capital
Launch Africa, the VC firm that has backed over 100 startups, closes first fund at $36.3M
Pan-African venture capital fund Launch Africa Ventures today is announcing the close of its $36.3 million fund, which it has primarily used to invest in B2B and B2B2C startups across Africa. In an in
Nigeria’s internet regulator releases draft to regulate Google, Facebook, TikTok and others
Nigeria has announced plans to regulate internet companies like Facebook, WhatsApp, Instagram (all owned by Meta), Twitter, Google and TikTok in a draft shared by the country’s internet regulator.
Tunisian edtech startup GOMYCODE raises $8M to expand across Africa and the Middle East
Yahya Bouhlel started coding in his early teens. Within this timeline, he interned at several companies in Palo Alto, California. Most of his work revolved around building apps and iPhone games. When
New report examines Africa’s growth in the digital economy and VC investment landscape
A new report from Endeavor Nigeria reveals that Africa’s digital economy and tech ecosystem is set to experience exponential growth periods. The report is dubbed “The Inflection Point: Africa’
Nigerian startup Klasha gets an additional $2.1M for its cross-border commerce play
Lagos and San Francisco-based Klasha has received an additional $2.1 million to complete its $4.5 million seed round. The startup, which provides multiple products for the cross-border commerce space