Life science startup Nawah Scientific offloads strategic stake to Essam Abdelhadi

EGYPT – Nawah Scientific, an Egypt-based life science startup, has sold a strategic stake to Essam Abdelhadi, the former vice president Middle East, Turkey, Africa and Pakistan (METAP) of Abbott, a US-based healthcare multinational, ahead of its upcoming Series A round.  Having concluded a US$1 million pre-Series A round earlier in the year, Nawah Scientific is now working on a Series A, and has part of that has secured backing from Abdelhadi and added him to its advisory board.   The startup recently expanded to Jordan, and is also growing its offerings to pharmaceutical companies to…

Read More

Wicrypt startup US$1.5m funding round to help in expanding to new countries

NIGERIA – Wicrypt, a blockchain-based Wi-Fi sharing startup, has raised US$1.5 million in a strategic funding round to help it expand into new countries.  The round was led by AU21 Capital, with participation from Polygon founder Sandeep Nailwal, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, Cardano and PolkaFoundary.    “While we have formed substantial business partnerships in Africa, this funding allows us to grow into new countries by increasing our marketing efforts,” said Ugochukwu Aronu, chief executive officer (CEO) of Wicrypt.    “Wicrypt is providing last-mile internet to people of the world who need it,…

Read More

Nigeria’s Eden Life closes US$1.4m Seed Funding Round

NIGERIA – Africa’s first home services app for scheduling food, laundry and cleaning services, has completed a US$1.4 million Seed round, led by UK-based LocalGlobe, along with participation from Samurai Incubate, Future Africa, Village Global, Rising Tide Africa and Enza Capital. The funding round brings Eden Life’s total investment to date to US$2 million following pre-seed backing from all of Andela’s original co-founders, and additional accelerator support over the last 18 months. The new capital raised will be deployed to build out Eden Life’s in-house technology and develop its own…

Read More

Pay@ and FinChatBot partner to launch a first of its kind payment solution in South Africa

SOUTH AFRICA – Pay@, South Africa’s leading payment solutions provider, has announced its partnership with FinChatBot, a global technology company specializing in conversational Artificial Intelligence (AI) solutions to develop a first-of-its-kind payment solution for the South African market. The payment solution will be launched in the last quarter of 2021, with plans to expand it to other territories in the future. By combining conversational AI with the ability to process payments via a number of channels (including in-store, mobile payment processing apps, EFT and bank card payments over USSD, and…

Read More

Cellulant confirms Akshay Grover as Chief Executive Officer

KENYA – Fintech company Cellulant has announced that acting Chief Executive Officer (CEO), Akshay Grover, has been appointed as Group Chief Executive Officer and Director of Cellulant with effect from 1 October 2021. The appointment follows an executive search process following the announcement in January 2021 by then Group Chief Executive Officer Ken Njoroge of his intention to transition from his position. Akshay has been serving in an acting capacity since April 2021. “We are delighted to appoint an executive of Akshay’s calibre and experience to the role,” said Cellulant…

Read More

Tech startup Sanergy secures US$2.5m funding from Japanese investor JICA

KENYA – Sanergy, a tech-enabled startup and the owner of the Fresh Life toilets franchise, has received US$2.5 million funding from the Japan International Cooperation Agency (JICA). This is in an effort to address the city’s growing sanitation needs while also helping farmers across Kenya produce more crops with fertilizer produced as a byproduct. Sanergy plans to expand its reach into additional African and Southeast Asian cities, on the wings of the investment. “We are thrilled to expand Sanergy’s pioneering circular economy model which solves multiple social problems, such as…

Read More

Tech company Klasha raises US$2.4m seed fund to improve on its infrastructure

NIGERIA – Klasha, cross-border technology company, has announced that it has raised US$2.4 million in seed funding that it plans to use to build the necessary technology infrastructure for cross-border commerce in Africa. Greycroft led Klasha’s funding round, while Seedcamp, Berrywood Capital, AVG Basecamp Fund, Practical VC, Plug and Play, First Round VC, Expert Dojo, 2.12 Angels, MiLA Capital and several angel investors also participated in the effort. Klasha will use the new money to help international B2B and B2C businesses take in online payments in African currencies from consumers…

Read More

Private equity firm Castle One secures investment from HL Hall to help extend its offering

SOUTH AFRICA – Castle One, a prop-tech venture capital and private equity organisation, has reportedly secured an undisclosed notable investment from HL Hall and Sons Holdings (Halls). The investment will be used to help the prop-tech venture builder assist the real estate industry in optimising technology to benefit this sector. In addition, the investment will assist Castle One is accelerating its existing objectives and help extend its offering and presence to foreign markets. “Our investment into Castle One is tremendously exciting as our companies have strong shared values and a…

Read More

Tech logistics firm Sendy to raise US$100m for Africa growth

KENYA – Sendy, a Kenyan tech logistics startup, is seeking to raise US$100 million by 2022 to fund the digital logistics platform’s plan to expand in western and southern Africa, reports Bloomberg. The Nairobi-based company, which facilitates door-to-door deliveries between individuals and businesses, will use the funds to commence business in the new markets, including Nigeria, Egypt, Ghana and South Africa, co-founder Malaika Judd said in an interview. Sendy, backed by Toyota Tsusho Corp, is seeking growth and partnerships amid the continent’s push to boost trade through the African Continental Free…

Read More

PE firm 1K1V acquires minority stake in tech company Digital Ecosystems

SOUTH AFRICA – One Thousand & One Voices (1K1V), a private equity firm that invests in sub-Saharan Africa with an exclusive limited partners (LP) base of leading family offices, has announced a R200 million (US$13.5 million) investment in a minority stake in Digital Ecosystems (DigiCo), a market-leading investment holding company that provides integrated technology services to the telecommunications sector, as well as various SaaS platforms. This investment marks 1K1V’s second investment in the technology space this year and the third technology investment in its portfolio. DigiCo operates at the forefront…

Read More