Tutoring startup Smartprof secures US$50k investment from UM6P Startgate and Plug and Play

MOROCCO – Smartprof, a Moroccan tutoring startup, has received US$50,000 in investment after graduating from the third cohort of the Mohammed VI Polytechnic University (UM6P) Startgate and Plug and Play Morocco startup competition. Smartprof, founded in 2021 by Hamza Faiz, Mustapha Faiz, and Ali Faouzi, is an on-demand tutoring software for school-aged pupils. UM6P Startgate and Plug and Play Morocco…

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Futuregrowth Asset Management launches US$11m fund to invest in startups

SOUTH AFRICA – Futuregrowth Asset Management, a South African manager of R193 billion (US$11.85bn) in fixed-income assets, is launching a fund to invest in startups with a significant developmental impact. According to a statement from Futuregrowth, the business intends to raise as much as R600 million (US$36m) by the end of the year for the Futuregrowth High Growth Development Equity…

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Home cleaning service startup SweepSouth launches its services in Nigeria

NIGERIA – SOUTH AFRICA-based SweepSouth, a home cleaning service startup, is looking to hijack some customers from its competitors in Nigeria by offering quality services. Launched in 2014, SweepSouth allows people to book home cleaning services at affordable prices and connects them with cleaners they call SweepStars, who are carefully vetted and are professionals with extensive experience in home cleaning.…

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Insurtech startup mTek secures US$3m investment from Finclusion Group

KENYA – mTek, an insurtech startup, has secured an additional US$3 million investment through both debt and equity from African-focused fintech platform, Finclusion Group. The startup had secured US$1.50 million (KSh170 million) investment from TrustGro- a non-deposit taking microfinance company to support the startup operations which primarily allows Kenyans access to paperless insurance products by partnering with local underwriters. The…

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Egyptian startup DXwand raises US$1m to fuel expansion across Middle East

EGYPT – DXwand, an omnichannel conversational AI and digital assistants tool, has announced the closed US$1 million in pre-Series A funding round to accelerate its growth across the Middle East, increase its market share, and accelerate its AI research to further differentiate its solutions on the market. The funding round was headed by Huashan Capital, and with commitments from angel…

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Fintech startup Chari launches in Ivory Coast with acquisition of Diago

IVORY COAST – Chari, a Morocco-based B2B e-commerce and fintech startup, has acquired Diago, an Ivorian app that connects neighborhood shops to FMCG producers and importers. Founded in 2021 by Amidou Diarra and Ali Ouattara, two former managers at Glovo and PepsiCo, Diago operates exclusively in Abidjan. Ali and Amidou will remain CEO and COO, respectively, and will oversee local…

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Retail-tech startup WafR raises US$455k to expand its network and expand its team

MOROCCO – WafR, a startup with an application that allows retail brands to broadcast smart promotions to grocers to increase their market share on the traditional channel, has announced that it has raised US$455,000 to provide the best possible support to retail brands. This new investment will allow the Moroccan startup to expand its network of partner grocers and grow…

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Nigerian Humansquad secures undisclosed pre-seed round for proprietary immigration tech products

NIGERIA – HumanSquad, a Nigerian immigration startup has announced securing a 6-figure pre-seed investment led by Calm Fund to boost its development of proprietary immigration tech products. The company’s Co-founder and CEO, Tunde Omotoye, who confirmed the development in a statement on Friday, said that the fund will help the startup boost its development of proprietary immigration tech products. HumanSquad,…

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UAE foodtech start-up Grubtech expands operations to Egypt

EGYPT – The UAE’s GrubTech, a platform that digitizes the back-end operations of restaurants and cloud kitchens, has expanded to Egypt, further diversifying its regional operations. Founded in 2019 by Mohamed Al-Fayed, Mohamed Hamidi, and Omar Al-Refaie, Grubtech is a cloud and dark kitchen solutions platform that enables its clients to digitize operations and management of online food orders. The…

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