OmniRetail's $20M Raise

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⟹ 🚀 STARTUPS WATCH 🚀 ⟸

Here are the 5 top startups in the African ecosystem we think you need to know:

Elloe AI is a full-stack enterprise platform helping companies build and deploy trustworthy AI at scale. From GenAI to RAG and hallucination detection, Elloe powers everything from prototypes to production in minutes—not months.

With tools like TruthChecker™ 2.0 and AI Guardrails, Elloe ensures secure, compliant, and accurate AI across industries. Trusted by global enterprises and built for scale, Elloe is the backbone of responsible AI. 🧠⚙️

Yalelo is Zambia’s leading aquaculture pioneer, sustainably farming tilapia in the open, pristine waters of Lake Kariba. With some of Africa’s largest fish cages and a best-in-class feed made from locally grown soy, maize, and wheat, Yalelo produces healthier, tastier fish—without compromise.

From harvest to plate, a cold chain-driven distribution network ensures freshness and traceability across Zambia and beyond, reaching customers in Uganda, Kenya, DRC, Malawi, and South Africa. 🧊🚛

DataProphet is an AI platform transforming industrial manufacturing by reducing scrap, boosting yield, and optimizing plant efficiency through machine learning. Its flagship solution, PRESCRIBE, delivers real-time prescriptions to operators, cutting defects by 50%+ and achieving up to 30x ROI for clients.

Serving global automotive, foundry, and metals clients, DataProphet’s plug-and-play suite bridges complex factory data and actionable AI—empowering teams to visualize, control, and continuously optimize production performance. 🏭📈

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

This week’s standout capital flows and liquidity events across Africa’s startup ecosystem:

🔹 OmniRetail secured $20M in Series A funding to expand its B2B e-commerce platform across Nigeria, Ghana, and Côte d’Ivoire.

The round was led by Norfund and Timon Capital, with participation from Flour Mills of Nigeria, Ventures Platform, and others. With this raise, OmniRetail has now processed over $800M in transactions and scaled its BNPL platform to 19 billion Naira in monthly credit disbursement.

🔹 Kofa raised $8.1M (equity + debt + grants) to scale its battery-swapping infrastructure across Ghana and Kenya.

The round was co-led by E3 Capital and Injaro Investment Advisors, with support from Shell Foundation. With over 200 daily battery swaps and a clear $30B market opportunity in sight, Kofa is positioning itself as Africa’s clean energy backbone.

🔹 MYDAWA landed a fresh growth round backed by IFU, Alta Semper, and Japanese pharma firm Ohara.

The Kenya-based digital health platform will use the funds to expand its “bricks-and-clicks” model across East Africa, enhance chronic disease care, and deploy AI for logistics and inventory optimization.

🔹 Silverbacks Holdings achieved a 29x return by exiting its stake in LemFi during the fintech’s $53M Series B round.

This marks Silverbacks’ eighth profitable exit — and its sixth from a Nigerian tech company — further cementing fintech as Africa’s most exit-ready vertical.

🔹 Arnergy quietly delivered a rare win for employees by enabling staff to cash out millions of naira in a partial liquidity event ahead of its $15M Series B.

The solar startup’s decision to honour employee stock options at this stage reflects a growing maturity in Nigeria’s startup equity culture.

🔹 Aruwa Capital Management closed $35M for its second gender-lens fund, reaching 90% of its $40M target.

Backers include Visa Foundation, Mastercard Foundation Africa Growth Fund, BII, and Nigeria’s Bank of Industry. The fund is focused on underserved markets in Nigeria and Ghana, with a spotlight on essential goods, financial inclusion, and women-led ventures.

👀 This Week’s Featured Investor: Addis Ababa Angels Network  👀

📍 Based in: Addis Ababa, Ethiopia | 🎯 Focus: Early-Stage Tech & Tech-Enabled Startups

The Addis Ababa Angels Network (AAAN) is Ethiopia’s pioneering angel group, bringing together seasoned professionals and founders to fuel innovation at the earliest, riskiest stage — with capital, mentorship, and deep local context.

Formed to catalyze Ethiopia’s startup ecosystem, AAAN backs scalable, tech-driven solutions that can create jobs, build resilience, and drive digital transformation across critical sectors.

Its members include leaders from top firms like Paga Ethiopia, Yaya Investment, Kazana Group, and Nest Ventures — offering not just funding, but strategic support and ecosystem access.

🎯 What They Invest In:

• Tech-first or tech-enabled startups

• Pre— or post-revenue businesses with MVPs

• Strong co-founding teams (minimum of two)

• Startups solving large, meaningful problems in Ethiopia

• Businesses with proven product-market fit or early traction

In a market where early-stage capital is scarce, AAAN is taking real risks, while offering liquidity-limited founders an alternative to donor dependency or bank loans. It’s also sending a strong message: Africa’s angel networks are maturing, and Ethiopia is ready for its startup moment.

⟹ 📺️ MEDIA WATCH 📺️  ⟸

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

1. OmniRetail Raises $20 Million to Expand Across West Africa - Tech In Africa

2. Lemfi’s $53 million Series B delivers 29x return for Silverbacks Holdings - Techcabal

3. Kenyan e-health startup MYDAWA secures undisclosed funding round for expansion - Disrupt Africa

4. Kofa raises $8.1 million to expand battery-swapping energy network - Techcabal

5. Lagos-based VC firm Aruwa raises $35m, hits 90% of its Fund II at 2nd close - Disrupt Africa

And that’s your weekly dosage of the African startup ecosystem! Have a lovely week ahead!

Gitonga, the Stoic Founder at StartupHub.Africa 🚀

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