- The first unicorn and fastest-growing fintech company in Egypt, MNT-Halan, revealed that it has closed five tranches of securitized bond issuances through its wholly-owned subsidiaries in consumer finance and microfinance in 2023 thus far. This latest investment through CI Capital follows four…
- AFEX, a Nigeria-based commodities platform, has received $26.5 million in capital from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. AFEX is a commercial platform that facilitates effective commodity trade in Africa. Through its three…
- Norrsken22, based in Kigali, has raised US$205 million, exceeding its goal of US$200 million, to close its first African tech growth fund. One of the founders of the Swedish fintech unicorn Klarna, Niklas Adalberth established Norrsken in 2016 with the intention of assisting entrepreneurs in their…
- Novastar Ventures, a pan-African VC firm, has raised $80 million from Japan’s SBI Holdings. Together, Novastar and SBI Holdings will work to get Japanese institutional investors to make matching commitments to the firm’s funds. To help further develop the Novastar platform, SBI Holdings has…
- Elon Musk launched an AI bot Grok to compete with ChatGPT, stating the prototype is already more advanced than ChatGPT 3.5. Musk’s xAI startup has released its first product, termed Grok, and is currently undergoing beta testing with a select set of users. According to the company website, Grok…
- Elon Musk launched an AI bot Grok to compete with ChatGPT, stating the prototype is already more advanced than ChatGPT 3.5. Musk’s xAI startup has released its first product, termed Grok, and is currently undergoing beta testing with a select set of users. According to the company website, Grok…
- Inclusivity Solutions, a South African insurtech startup, has secured a US$1.5 million Series A extension round to fund its plans for pan-African expansion. The funding round was led by impact investing firm Goodwell Investments, which has supported Inclusivity Solutions in its last two rounds of…
- Meta is launching a new subscription plan in the European Union (EU), the European Economic Area (EEA), and Switzerland to accommodate the region’s continually evolving regulatory framework. Meta will provide Facebook and Instagram users in these regions the option to use the services for free…
- Almouneer, a pioneering digital transformation platform that is redefining healthcare for physicians and patients throughout the Middle East and Africa (MEA), has announced that it has raised US$3.6 million for its seed round of funding. The Bridge Fund, Wrightwood Investments, the family office…
- My Easy Transfer, a fintech company based in Tunisia, has secured a $423,000 investment from 216 Capital. 216 Capital has invested 400,000 euros in the Franco-Tunisian business My Easy Transfer, which enables safe money transfers from the diaspora, as part of its commitment to supporting value-…
- BluePeak Private Capital, an alternative asset manager firm that helps expand rapidly expanding businesses in Africa with the help of privately negotiated and structured debt-like instruments, has closed its first private capital fund at a total of US$156 million. The African Development Bank (…
- Maisha Meds, a pioneering digital health organization in Africa, received US$5.25 million in scale-up stage 3 funding from USAID’s Development Innovation Ventures (DIV). Over the course of three years, Maisha Meds will use the US$5.25 million in funding from DIV to support its expansion efforts.…
- The Global Startup Awards Africa (GSA) Africa, in collaboration with the Global Innovation Initiative Group (GIIG), the Ethiopian Ministry of Labour and Skills (MOLS), the Ethiopian Ministry of Innovation and Technology (MInT) with the support of the Entrepreneurship Development Institute (EDI)…
- Formerly known as Twitter, social media company X has introduced two new subscription plans, one of which is a Premium+ tier for those who are ready to pay to remove ads from their feed. According to a post made by the company on the platform, the Premium+ plan, which costs roughly $16 a month, has…
- According to a slide released in a federal antitrust trial against Google, the corporation paid $26.3 billion in 2021 to be the default search engine on mobile phones as well as web browsers. This figure provides a more precise estimate of how much Google pays companies like Apple to use its search…
- Supporting companies from seed to Series A, the THRIVE Global Accelerator program is a 12-week award-winning program that helps businesses get ready for growth and scale. The THRIVE Global Accelerator supports businesses along the whole agrifood value chain, with a particular focus on those using…
- OBM Education, an Egyptian ed-tech startup, has announced a substantial six-figure funding round to increase its market share in Saudi Arabia. Value Maker Studio (VMS) has contributed six figures to the current funding round, which has made it possible for the round to take place. OBM Education…
- Due to its continuous austerity effort and a resurgence in digital advertising investment in anticipation of the holiday season, Meta’s third-quarter profit and sales surpassed projections. In addition to reporting its highest operating margins in the past two years, Meta the company that owns…
- Following a three-day selection event attended by approximately 40 mentors, investors, partners, and industry experts, ten startups have now been chosen to participate in the fourth edition of the Startupbootcamp AfriTech’s ASIP Accelerator. They will now take part in the three-month program, where…
- Husk Power Systems, a clean technology firm based in the United States, has successfully completed its Series D funding round, raising a total of $103 million. This includes $43 million in equity financing and $60 million in debt financing. The US International Development Finance Corporation (DFC…
- COVA Africa, an insurtech dedicated to French-speaking Africa, has won the sixth edition of CATAPULT: Inclusion Africa. From October 16 to 20, 2023, representatives of ten African fintechs traveled to Togo in Lomé to take part in the latest edition of CATAPULT: Inclusion Africa, an accelerator…
- Brazilian maritime tech company, TideWise, raised a $1.9M round led by MSW Capital through the MSW MultiCorp2 fund. TideWise invested $5.9M in research and development, resulting in the creation of Brazil’s first registered unmanned vessel, the USV Tupan, which has provided services to prominent…
- Lyon-based Mon Petit Placement, a fintech company that claims to simplify the investment experience by making it accessible to everyone, announced that it has secured €6.5M in a fresh round of funding. The company aims to become the key player in accessible savings in France (and beyond). The…
- Denmark-based Creative Force, an end-to-end creative operations workflow platform, announced that it has raised $8.9M in a Series A round of funding, bringing the company’s total funding to $17.9M. The investment comes from the Export and Investment Fund of Denmark (EIFO) and Hearst Ventures, the…
- Stockholm-based Ankra, a cloud infrastructure automation platform, announced that it has raised €1.1M in a pre-seed funding round led by UK-based B2B investor Superseed, alongside industry-leading angel investors. Ankra says it will use fresh capital for the development of its platform to…
- According to a company regulatory filing, Microsoft has completed the $69 billion acquisition of video game publisher Activision Blizzard. It’s the biggest acquisition Microsoft has ever made, and it comes after the corporation addressed regulators’ concerns about competition in the U.K. and Europe…
- Crafty Workshop, an Egyptian startup in the education technology sector, has successfully raised $400,000 in a round of seed funding. EdVentures, the region’s first corporate venture capital firm with a specific focus on educational technology, led the funding round. Crafty Workshop, an…
- According to reports, Microsoft is in discussions to sign Amazon as a customer for its Microsoft 365 cloud productivity tools in a deal worth more than $1 billion. Microsoft would benefit greatly from the deal, which would be among the biggest cloud software transactions in history. The agreement…
- Meta is bringing its ‘broadcast channels’ feature to Facebook and Facebook Messenger after first launching it to Instagram and WhatsApp earlier this year. The feature will be available on the two platforms in the upcoming weeks, according to the company. Creators and prominent personalities can…
- Copenhagen-based Klimate has secured €3.5 million in a Seed funding round led by Eneco Ventures and Helen Ventures and was joined by existing investors Rockstart and the Export and Investment Fund of Denmark. The startup provides a CO2 asset management platform to give companies carbon removal…
- Amsterdam-based PULSE Sport, an athlete performance monitoring and sports management platform announced that it has secured its first investment funding of €250k in a pre-seed round from SportInnovator. PULSE Sport says it will utilize the investment to advance its pilot phases, enhancing its…
- Zurich-based Lakera AI, announced the formal launch of its AI security platform, enabling developers to secure generative AI applications in the enterprise. In addition to the launch, Lakera AI has secured $10M in a fresh funding round led by Redalpine. Other founders, including Fly Ventures,…
- Heliup, a French startup that develops and produces lightweight photovoltaic panels, has raised €10M in funding. The company aims to transform the large roofs of existing buildings into a clean energy source. Starquest Capital led the financing round, along with participation from EIT InnoEnergy, …
- Scottish insect genetics company Beta Bugs announced that it has raised €1.46M to scale up the production, sale, and supply of its black soldier fly (BSF) eggs and larvae. The insect farming sector will use them as a sustainable alternative to current protein sources for animal feed. The funding…
- Wareclouds, the promising Chilean collaborative logistics startup founded in 2020 by Nicolás Aramayo and Arturo Quiroz, has successfully concluded its third financing round, attracting $2 million. Of this amount, 2048 Ventures, a New York-based firm, led the round, contributing $1.8 million, while…
- Foreign investment and partnerships play a pivotal role in shaping the growth trajectory of the tech sector in Africa. Here are key ways in which they impact African tech growth: 1. Access to Capital: – Foreign Investment: Foreign investment injects much-needed capital into African tech startups…
- Microsoft and Flutterwave have entered into a five-year strategic technological partnership. Flutterwave will develop its next-generation platform on Microsoft Azure as a result of the new partnership, with the intention of boosting payment innovation in Africa and, in turn, the expansion of small…
- Amenli, an Egyptian insurtech startup, has completed a US$1 million equity investment round to support team growth, product development, and brand development. One of the largest insurance groups in the MENA region, Qatar Insurance Company’s corporate VC arm Digital Venture Partners (DVP), joined…
- To help fast-growing health and financial services firms in Africa, South Asia, and Southeast Asia gain access to growth capital and support the creation of new jobs, IFC has made an equity investment of US$50 million in a new fund by LeapFrog Investments, one of the largest private equity groups…
- Sanari Capital, a majority black and female-owned South African private equity firm run by women, has raised US$65 million for its growth fund, which will be used to create jobs and promote economic development throughout Africa. Sanari Capital makes investments in well-established companies at…
- Intella, an Egyptian deep tech startup, has completed a US$3.4 million pre-Series A funding round that will support its Saudi market expansion and the creation of end-to-end AI models tailored to the MENA region. The startup has raised US$3.4 million in a pre-Series A investment, with the same…
- WATT Renewable Corporation (WATT) in Nigeria has raised US$13 million to expand its business as an independently owned provider of hybrid solar systems. Empower New Energy, a lender, and co-developer of renewable energy, provided the US$13 million funding. Empower New Energy funds, constructs, and…
- Stitch, a South African fintech startup, has announced a US$25 million Series A extension round led by Ribbit Capital, which will be used to extend its end-to-end payments solutions and enter new markets. Following a US$6 million seed funding in 2021, the startup swiftly advanced to Series A with a…
- Google has recently launched new consumer products, including the Pixel 8 smartphone and a new smartwatch, both of which incorporate the company’s artificial intelligence (AI) technologies more fully integrated into Google’s consumer electronics. The Google Pixel smartphone was designed to…
- The “Sony Innovation Fund: Africa” program has been unveiled by Sony Group Corporation as a means of fostering the expansion of Africa’s entertainment industries. Through its “Sony Innovation Fund” (2016), which invests in seed to early-stage companies, “Innovation Growth Fund” (2019), which was…
- Lipa Later, a Kenyan fintech platform that enables e-commerce, financial inclusion, and shopping on a centralized and fully integrated platform, has secured US$3.4 million in a privately placed debt issuance to help it grow its operations. The funding round was backed by KN Law, a preeminent legal…
- Root Platform, a South African startup that offers an end-to-end, low-code, API-first insurance technology platform, has raised US$1.5 million in funding to speed up its expansion plans. Invenfin, a South African venture and growth capital firm affiliated with Remgro, which participated in Root’s…
- Revio, a South African payment orchestration platform that assists merchants in optimizing their order to cash lifecycle, has announced a seed financing round of US$5.2 million to support its growth across Africa and the expansion of its capabilities. Late last year, the startup raised US$1.1…
- Fixit45, a pioneer in the aftermarket for automotive technology and an innovative startup in Nigeria has received US$1.9 million in pre-seed funding to help it grow. Launch Africa Ventures led the pre-seed round, which also included a variety of angel investors and investors like Soumobroto Ganguly…
- Untapped Global, a revenue-based asset finance platform, has successfully raised US$3 million in seed funding led by E3 Capital. With this investment from E3 Capital, Untapped Global has now raised more than US$14 million in debt and equity from early-stage venture and angel investors. Through…
