- The new Regional Emergency Solar Power Intervention Project (RESPITE), approved for a total of $311 million in International Development Association (IDA) finance, will help current and potential energy customers in Chad, Liberia, Sierra Leone, and Togo. To facilitate future regional power trading…
- PepsiCo plans to begin employing electric trucks to make deliveries to consumers in 2023, which is also the year that the company intends to roll out 100 heavy-duty Tesla Semis. As a means of reducing its environmental effect, PepsiCo is the first corporation to test out Tesla Semis that are…
- Sun King, an off-grid solar energy product provider in Africa and Asia, has received a $70 million equity investment led by LeapFrog Investments. This is an expansion of the $260 million Series D round that the solar startup announced in April. The round was led by BeyondNetZero. Sun King has now…
- Ventures Platform, an Africa-focused early-stage VC firm, has closed its $46 million early-stage and global fund. A to Z Impact, Proparco with FISEA, AfricaGrow, Standard Bank, the International Finance Corporation, British International Investment, and other investors were among the renowned …
- As the year 2022 comes to a close, we’d like to spotlight a few of our top publications from the year. What a year it has been, and certainly not one that anyone would have predicted. Looking back on the past year helps identify defining milestones and paves the way for a resilient future. In […]…
- Agritech startup Grow Indigo has raised over $6 million in the recent funding round with a cumulative capital raise thus far of over $13 million, the company informed through a media release. The round saw interest from investors globally including participation from Indigo AG, Mahyco and HNIs (…
- Munich-based allO has raised €1.4 million in seed funds. The round is led by the Amsterdam/London VC Keen Venture Partners, and Delivery Hero chairman Martin Enderle. Founders Benedikt von Lewinski, Cancan Liu, and Teodor Rupi aim to strip away siloed kitchen software tools, replacing them with a…
- Italy-based 3Bee, a climate tech scaleup, announced that it has closed €5M in a Series A round of funding from Ag funder Grow impact fund and Anya Capital. 3Bee says it intends to deploy the funds to: ▪ Strengthen its biodiversity impact ▪ Enhance technology data mapping infrastructure ▪…
- Madrid-based Samara, a solar tech startup that helps build homes of the future with solar energy, reportedly announced that it has raised €4.5M in a Seed round of funding. According to TechEU, the investment was led by Madrid-based Seaya Ventures, a multi-sector fund investing in outstanding and…
- Germany-based VMRay, a solution provider for dynamic analysis of advanced threats such as zero-day and targeted attacks, announced that it has extended its Series B funding to €32M. The company mentions in a statement that it will use the funds to further accelerate the expansion of its product…
- London-based Upstream, a startup specializing in mobile marketing, announced that it has secured €14M in a five-year loan agreement from the National Bank of Greece. The company says it will use the funds to accelerate expansion and technological development in mobile marketing. Upstream will also…
- Stockholm-based EnginZyme, a biotechnology company that creates biomanufacturing processes for the sustainable production of common goods, announced that it has raised €21M in a Series B round of funding. The investment came from new investors Almi Invest GreenTech, Navigare Ventures, and Bunge…
- Aviva, a Mexican-based fintech startup focused on bringing working capital to unserved communities has raised $2.2 million. The pre-seed was led by Wollef Ventures, joined by Newtopia VC, Seedstars International Ventures, 500 Startups, Magna Capital VC, Xtraordinary VP and a group of angel…
- Taeillo, a Nigerian-based online furniture eCommerce startup, has secured a $2.5 million funding round led by Aruwa Capital. Taeillo is an online furniture eCommerce company that serves B2B clients as a custom furniture designer, and it was founded by Jumoke Dada in 2018. However, the COVID-19…
- Kenya’s Mukuru Clean Stoves is one of the five 2022 winners of the second-annual Earthshot Prize awards, receiving a £1 million prize after a nine-month search for the most inventive and inspiring answers to the most pressing environmental problems the world is currently experiencing. Over a…
- The MEST Africa Training Program is now accepting applications for its 2024 cohort. This 12-month course, which will be physically held in Accra, is aimed at teaching young people from all across the continent commercial technology and entrepreneurial skills. Over 800 young African tech…
- Suplyd, an Egyptian startup, has announced a $1.6 million pre-seed funding round to digitize supply chain processes for the hospitality, restaurant, and food service (HORECA) sectors in the Middle East and North Africa (MENA). Endure Capital, Seedstars, Camel Ventures, Falak Start-ups, and other…
- The American business Equinix, which operates data centers, intends to spend 160 million dollars on the construction of its first data center on the African continent, which will be located in Johannesburg, South Africa. Eugene Bergen, the company’s president for EMEA, stated that the facility…
- As part of their partnership, TLG Capital and Future Africa have established a US$25 million venture debt fund from TLG’s existing funds, which will be allocated to companies in the Future Africa portfolio that match certain requirements. The two companies have joined forces to offer founders a…
- Finclusion Group, a South African company that is developing Africa’s first credit-led neobank, has announced that it has received an extra 2 million dollars in funding. Leonard Stiegeler, who is also joining the company’s board of directors, together with current investors Sudeep Ramnani and Jai…
- President of the Brazilian Central Bank Roberto Campos Neto has announced that the introduction of Brazil’s digital currency is planned for 2024, following a closed pilot test with financial institutions in 2019. According to Neto, the design of the digital currency issued by the central bank will…
- Ubongo, an African edtech startup, is one of the five recipients of the Lego Foundation’s global Build a World of Play Challenge, which awards grants to projects that use play to address pressing issues in early childhood education throughout the world. A total of US$ 117 million will be given by…
- Nelly Cheboi, the CNN Hero of the Year for 2022, reinvents outdated computer devices to provide young Kenyans access to new opportunities. Cheboi, accompanied by her mother, accepted the award in her honor.“I did not have much growing up, but I have had a lot of selfless people in my life. My mom…
- Mexican startup Welbe Care, which offers companies a health platform for their employees through a membership, raised $5 million in a seed round led by Brazilian fund Volpe Capital and Mexico’s Nazca. SVLC, Kortex, and GreenRock also participated. With the recent capital, Welbe Care, also known as…
- Mexico-based femtech Plenna secured a $4.4 million seed round led by Urban Innovation Fund, with participation from Canary VC, Collaborative, 1984 VC, 500 Global, Bridge Latam, Amador Holdings, Nido Ventures, Integra Groupe, Phoenix Club, and others. Plenna is the first Mexican femtech offering a…
- Open finance platform Syncfy announced a $10 million seed funding round led by Point72 Ventures. The round also included participation from JAM Fund, Ausum Ventures, Avalancha Ventures, FJ Labs, MANTIS Venture Capital, and XBTO Humla Ventures. Some angel investors are Tether Co-Founder Brock…
- The centuries-old story of Munich-based bank Bankhaus von der Heydt is ending, at least in its current independent form, following an agreed sale to the German crypto holding company Bitcoin Group for around €14 million. Bankhaus, which traces its roots back to 1754 as a family-owned cloth export…
- FashionCloud, a Hamburg-based B2B data and content exchange portal for fashion wholesalers and retailers, has raised €25 million in investment. The round is led by the pan-European growth investor Verdane with further participation from FashionCloud’s existing investors, including the Danish…
- Athens-based Welcome Pickups, a global travel transportation startup, announced that it has raised €5.3M in a fresh round of funding. The company says it survived the COVID pandemic by optimizing operations and achieving “remarkable” growth and financial results in 2022. The investment came from…
- Copenhagen-based OKTO GRID, a company that has developed a solution to digitize the energy industry, announced that it has raised €3M in a Seed round of funding. Elewit (Redeia’s corporate VC), Rockstart, and EMD Fonden participated in the current round to support the global energy industry as…
- Bordeaux-based api.video, a platform that helps build in-app video with a few lines of code, announced that it has raised approximately €11.37M in a Series A round of funding. The round was led by MMC Ventures, with participation from Open Ocean, Blossom Capital, and Financiere Saint James.…
- Helsinki-based The Upright Project, a company building an AI-enabled quantification model to measure the net impact of companies and funds, announced that it has raised €5M in a Seed round of funding. Founded in 2017 by Annu Nieminen and Juho Ojala, Upright’s AI-based impact data engine…
- Amsterdam-based TheyDo, a journey management platform, announced that it had raised €12M in a Series A round of funding led by Blossom Capital with participation from 20VC. Notable angels Des Traynor (Intercom), Grisha Pavlotsky (Miro), Jeroen Nieuwenhuijs (Snowflake), Elena Verna (PLG Amplitude/…
- Mobility for Africa, a Zimbabwean mobility business, has received US$2 million in funding from InfraCo Africa, a Zimbabwean investment firm, to deploy 400 electric vehicles in the country’s rural areas. Mobility for Africa, which was founded in 2019, asserts that its solutions would make it easier…
- Senegalese digital startup Kwely has been named the winner of the 2022 MEST Africa Challenge (MAC), a pan-African startup pitch competition. Birame Sock, a Senegalese entrepreneur, launched the digital platform Kwely to distribute products made in Africa. Kwely receives US$50,000 in equity…
- The Deji Alli ARM Young Talent Award (DAAYTA) finalists’ pitch event for the year 2023 will take place virtually on April 14, 2023, according to ARM in collaboration with TechnoVision (TVC). This announcement launches the formal application period for DAAYTA 2023 as ARM looks for Nigeria’s best…
- Gridless, a bitcoin mining company that is bringing new energy generation to remote areas in East Africa, has received a $2 million seed funding. Stillmark and Block, Inc. led the round, while Factor[e], which also participated in the pre-seed round, is a participant in the seed round. Erik…
- According to the Pentagon, the four major cloud providers (Amazon, Google, Microsoft, and Oracle) would receive a contract for up to $9 billion until 2028. At first, Microsoft was set to receive the Joint Enterprise Defense Infrastructure contract from the Pentagon in 2019. Amazon opposed the…
- The Democratic Republic of the Congo (DRC) will receive a $12 million grant to carry out the Financial Sector Development and Inclusion Support Project, according to a decision by the Board of Directors of the African Development Fund, the group’s concessional lending arm. The money will help the…
- An accelerator program is designed to help you learn the fundamentals of business management, such as how to sell and develop your product, communicate effectively, manage funds, and implement effective solutions. The fact that you were accepted into an accelerator program is in no way a definitive…
- The Mastercard Foundation Africa Growth Fund has launched a $200 million funding facility for African small and medium-sized enterprises. In order to help early-stage, growth-oriented SMEs on the continent, the Mastercard Foundation Africa Growth Fund (MFAGF) has been launched. By supporting and de…
- The Seedstars Enhancing Women Entrepreneurship in Africa (EWEA) program is seeking applications from women-led small to medium-sized businesses, as well as community enablers and entrepreneurship support programs across Africa, for its mentorship and skill-building workshop series. The EWEA…
- For its second batch of the VFA Fintech Product Management Bootcamp, Venture for Africa (VFA), an immersion program and talent community designed to help top local and international talent transfer into the African startup ecosystem, is now taking applications. Participants will learn about…
- Kapu, a social commerce start-up, has secured $8 million in seed funding to ease the financial strain of grocery shopping for Kenyan consumers. Giant Ventures and Firstminute Capital jointly led the seed round, which also included Founder Collective, Base Capital, Norrsken, and Raven One. Along…
- Uncover, a skincare startup based in Kenya has successfully raised one million dollars in seed funding. Investors in the seed round included several angel investors as well as FirstCheck Africa, Samata Capital, Future Africa, and IgniteXL. Sneha Mehta, Jade Oyateru, and Catherine Lee co-founded…
- OneOrder, an Egyptian startup that offers food supplies to hotels, restaurants, and cafés through a fintech-enabled restaurant management platform, has announced the closing of a US$3 million seed round. Nclude, VC A15, and Delivery Hero Ventures all contributed to the funding round, which was led…
- Badili, a smartphone reselling startup based in Kenya, has secured $2.1 million in pre-seed capital in order to expand across Africa. Family offices and angel investors from Kenya, Nigeria, South Africa, and India, as well as Venture Catalysts, V&R Africa, Grenfell holdings, and SOSV, all took…
- Paris-based Le Collectionist, a luxury travel platform that offers luxury villa rentals in Europe, announced that it has secured €60M in growth funding led by Highland Europe. Experiential luxury specialists OLMA, Famille C (the office of the Courtin and Clarins families), Swiss banks Pictet and…
- London-based AltoVita, a platform with a human-centric approach to power the corporate accommodations sector, announced that it has raised approximately €9M in an oversubscribed Series A round of funding. The company aims to deliver smart, safe, and sustainable living for employees anywhere in the…
- Netherlands-based Microwoning.com, a startup creating solutions for the housing shortage, announced that it has raised €2.5M in a Seed round of funding to further expand the number of microwoningen (micro homes) on private land in the country. The startup aims to fight the housing crisis by…
