🔥🔥 More Turmoil At Copia 🔥🔥

⟹ 🚀 STARTUPS WATCH 🚀 ⟸

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

MuduPay is a pioneering payment platform based in Conakry, Guinea, designed to facilitate seamless local and online payments across Sub-Saharan Africa via mobile money accounts. Founded by Ousmane Seidy Diallo, MuduPay aims to bridge the financial inclusion gap in underdeveloped communities, leveraging modern technology to empower individuals and foster economic growth.

The platform was born from the vision of addressing the financial challenges faced by many Africans, striving to create a world where financial empowerment transcends borders. MuduPay’s mission is driven by resilience and innovation, aiming to enable every individual to seize opportunities and contribute to the continent’s economic development, reinforcing its commitment to a financially inclusive Africa.

Seater is an innovative tech-driven solution for school and employee transportation, offering streamlined services through a user-friendly mobile app and web platform. Designed to enhance the commuting experience, Seater leverages cutting-edge technology to optimize routes and manage logistics efficiently.

The platform supports various transportation needs, including daily routes, private lines, and special requests, with features like live tracking and real-time communication to ensure seamless service. Seater also provides fleet management solutions for institutions, enabling them to oversee and maintain their transportation assets through an integrated system. With a focus on cost-effectiveness and convenience, Seater aims to redefine mass transportation services for both schools and businesses.

Infiuss Health is transforming the landscape of clinical research by offering a scalable, unified platform that addresses all research needs. Founded with a mission to decentralize clinical research, Infiuss Health bridges the gap between researchers and millions of eligible participants through a direct-to-patient approach. The company aims to streamline the research process, enabling fully remote or hybrid studies by connecting sponsors with the right participants, hospitals, partners, and physicians.

Infiuss Health's innovative platform focuses on diversifying participant cohorts and accelerating drug development timelines, providing essential access to a wide range of participants, healthcare professionals, and facilities. Through its flexible, study-specific solutions, Infiuss Health is redefining the future of clinical research, making it more inclusive and efficient.

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

It was another great week in the VC space with over $5M being raised by African startups. While there may be some turmoil with shutdowns as reported in our extensive coverage, we remain bullish! Investor confidence is rising by the week and we will keep covering it.

Ivory Coast-based cloud communication startup LAfricaMobile has raised US$4.6 million in a Series A funding round to expand across French-speaking Africa. Founded in 2014, LAfricaMobile facilitates large-scale communication campaigns using mobile technologies such as SMS, USSD, voice, WhatsApp, airtime, and text-to-speech, and has processed nearly 100 million transactions in over 15 countries. The funding round, led by Janngo Capital and supported by investors including French footballers Aurélien Tchouaméni and Jules Koundé, and VC firms SouthBridge Investments and Ciwara Capital, will be used to consolidate the company’s financial position, expand operations in Central Africa, and invest in AI-driven product development.

South African VC firm 4Di Capital, known for its investments in startups across Southern and Eastern Africa, is planning to raise its third venture fund to support seed to Series A investments. Established in 2009, 4Di has backed notable companies such as Snapt, LifeQ, and Wasoko. As it nears the end of its second fund, the firm is optimistic about the market's recovery from the global funding winter and plans to explore overseas fundraising to tap into growing international interest in African startups. With a proven track record, 4Di aims to attract new limited partners for its upcoming fund.

Egyptian prop-tech startup Birdnest has secured pre-Series A funding to bolster its expansion in Egypt and other regional markets. Founded in 2020 by Mostafa El-Nahawy and Ahmed Fadda, Birdnest specializes in furnishing services and rental management, aiming to maximize returns for real estate investors while adding value for tenants. The undisclosed funding round, backed by Beltone Venture Capital and CI Venture Capital, was raised in exchange for a 20% stake, enabling Birdnest to enhance its tech, expand its regional team, and implement aggressive marketing strategies. This investment is set to accelerate Birdnest's growth and solidify its presence in key markets such as Athens, Dubai, and Riyadh.

👀This week’s featured investor is Kalon Ventures. 👀

Kalon Venture Partners is a disruptive technology VC fund based in South Africa, renowned for its dynamic and experienced team with over 200 years of combined expertise.

They focus on post-revenue startups, targeting African solutions with global scalability potential. Kalon Ventures emphasizes providing both smart capital and value, believing in creating a ripple effect of returns by generating substantial non-financial value alongside financial gains.

Their diverse portfolio includes startups like Talk360, GoMetro, iXperience, Carscan, Mobiz, Sendmarc, Flow, FinChatBot, Ozow, and SnapnSave, each revolutionizing their respective sectors with innovative technologies.

⟹ 📺️ MEDIA WATCH 📺️  ⟸

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

1. Copia Global seeks fresh funding after this week’s layoffs - Techcabal

2. Ivory Coast cloud communication startup LAfricaMobile raises $4.6m Series A funding - Disrupt Africa

3. Nigerian fintech startups could spend over $1 million on KYC address verification - Techcabal

4. Starting in war-torn Sudan, YC-backed Elevate now provides fintech to freelancers globally - Techcrunch

5. Egyptian startup Mal Bazaar acquires licensed brokerage to expand insurtech platform  - Disrupt Africa

And that’s your weekly dosage of the African startup ecosystem! If you have any comments or feedback, just respond to this email.

Thanks for reading. Have a great weekend.

Gitonga, the Stoic Founder at StartupHub.Africa 🚀

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