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⟹ 🚀 STARTUPS WATCH 🚀 ⟸

Here are the 5 top startups in the African eco-system we think you need to know:

Terawork is a Nigerian startup redefining the freelance marketplace by bridging the gap between clients and skilled service providers. Through its secure and innovative platform, Terawork connects businesses and individuals with vetted freelancers for one-off or short-term projects. Service offerings span software development, content writing, creative design, SEO, digital marketing, event planning, and more.

Born from its founder's mission to create trust and efficiency in remote work, Terawork provides a seamless, pay-as-you-go system ensuring transparency and value for money. It empowers African freelancers by creating economic opportunities and enabling businesses to thrive without geographical limitations.

Diago is an innovative Ivorian startup revolutionizing last-mile distribution by connecting retailers directly with distributors through its unified platform. Diago's streamlined solution ensures seamless stock purchases and guarantees free delivery within 10 hours, transforming how retail logistics operate in the region.

By eliminating intermediaries, Diago empowers retailers to maintain direct contact with brands while performing all related transactions and services online. The platform aligns with its vision of digitizing and optimizing retail supply chains for efficiency and growth.

Bookings Africa is a groundbreaking African startup that leverages technology to economically empower individuals across the continent. By connecting creative freelancers with clients, the platform enables users to unlock and monetize their talents, fostering freelance entrepreneurship.

Specializing in creative fields, Bookings Africa offers services ranging from models, makeup artists, photographers, and voice-over artists to hair stylists, clothing stylists, and even production locations. This comprehensive marketplace makes it easier to bring any creative project to life, catering to diverse needs across industries.

By focusing on people-to-people interactions, Bookings Africa creates value for service providers, clients, employees, and the broader media communities it serves. The platform is reshaping the creative landscape in Africa, offering opportunities that drive economic growth and creative innovation.

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

This week, Africa's VC ecosystem witnessed several exciting developments across various industries, showcasing increased investor confidence.

Kenya’s Hydrobox secured $9M in debt funding from FMO and ElectriFI to expand eight hydro mini-grids, aiming to provide affordable electricity to over 10,000 people in underserved regions. Senegal's Solarbox raised $1M in pre-seed funding to scale solar-powered EVs, offering sustainable mobility solutions across West Africa.

Egypt's Sylndr closed a $7.45M asset-backed financing deal to enhance its used car e-commerce operations, while Ariika, a home décor e-commerce platform, raised $3M to expand into Saudi Arabia, accelerating its regional growth.

Egyptian home décor platform Ariika secured a $3M Series A extension to expand into Saudi Arabia by January 2025. Founded in 2016, it specializes in innovative home products, serving 800,000+ customers globally and growing at over 85% annually.

These investments highlight Africa's potential as a hub for sustainable and tech-driven innovations. 🚀

👀 This week’s featured investor is Oak Capital. 👀

Oak Capital is a venture capital management firm based in Lagos, Nigeria, dedicated to making outstanding investment deals across Africa. Founded in 2013, the firm is committed to driving technological innovations, financial inclusion, healthcare advancements, and agricultural growth.

Oak Capital positions itself as the go-to investor for visionary founders developing groundbreaking solutions to Africa’s unique challenges. Beyond providing capital, the firm offers strategic partnerships, connecting entrepreneurs with expertise, funding stages, and operational support to scale their businesses effectively.

With a mission to catalyze Africa’s growth through strategic investments, The Oak Capital has a proven track record of empowering startups that redefine industries, foster inclusivity, and create lasting impact. 🌍💼

Their investment portfolio includes; Moni, DialAfrika & Veend. Visit their profile on SHA to learn more about their investments.

⟹ 📺️ MEDIA WATCH 📺️  ⟸

Here are the 5 key things in the news this week that you need to know:

1. Kenyan energy startup Hydrobox raises $9m debt funding to support 8 hydro projects - Disrupt Africa

2. Egyptian online car retailer Sylndr secures $7.45m working capital facility - Disrupt Africa

3. PalmPay hires ex-Opay and Moni executive to lead marketing in Nigeria - Techcabal

4. Egyptian home décor e-commerce platform Ariika raises $3m Series A extension round  - Disrupt Africa

5. Senegal’s Solarbox raises $1m pre-seed funding to drive solar-powered e-mobility solutions - Techcabal

And that’s your weekly dosage of the African startup ecosystem! If you have any comments or feedback, just respond to this email. We are always looking to hear from our community.

Thanks for reading. See you next week.

Gitonga, the Stoic Founder at StartupHub.Africa 🚀

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