Health tech startup launches Trust for investing 5% of future proceeds

AFRICA – 54gene, a health tech startup, is creating a Trust which it will use to invest up to 5% of future proceeds from the company’s commercial drug discovery program. The creation of the trust is part of its Commitment to Africa in establishing a more sustainable and thriving cyclical ecosystem across Africa’s scientific development space, as well as ensuring better quality healthcare delivery for the communities in which the company operates. 54gene is focused on creating a pipeline of novel drugs for global populations, based on insights drawn from…

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Oxford Foundry, FMDQ Private Markets partner to accelerate the growth of Nigeria’s startup ecosystem

NIGERIA – Oxford Foundry and FMDQ Private Markets, a subsidiary of FMDQ Holdings Nigeria, Africa’s first vertically integrated financial market infrastructure group, have launched a global partnership to accelerate the growth of Nigeria’s startup ecosystem and nurture a future generation of young Nigerian leaders in entrepreneurship, through knowledge exchange and collaboration. The partnership will support Nigeria’s future business leaders and high growth startups to access the networks and skills they need to grow and sustain their businesses, create jobs and inclusive socioeconomic growth, and facilitate the growth of Nigeria’s venture…

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Healthtech startup RxAll raises US$3.15m funding to develop its technology

NIGERIA – RxAll, a startup based in the United States and Nigeria that uses deep technology to offer patients with high-quality medication, has raised US$3.15 million in funding to expand into other countries and develop its technology. This funding round combines a recently closed US$2 million seed round (which was oversubscribed by US$2.25 million) and a US$900,000 pre-seed round raised at the end of last year. The financing was led by Launch Africa, with participation from SOSV’s HAX and Keisuke Honda’s KSK fund. With the latest funding, the company hopes…

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Fintech startup Chaka raises US$1.5m pre-seed funding to expand its footprint

NIGERIA – Chaka, a fintech startup, has raised a US$1.5 million pre-seed funding round as it aims to expand its footprint to Ghana and other West African markets. The funding round was led by Breyer Capital and also featuring 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures. The funding will enable Chaka to continue on its mission to enable borderless investments across Africa and deliver digital investments solutions for African businesses. It will also be used towards the expansion of the startup’s footprint in West Africa to…

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Tech startup Ekeneze Technologies launches Inyinya Delivery App

NIGERIA – Ekeneze Technologies Limited, a technology start-up, has announced the launch of its first instant delivery services aggregation technology, Inyinya Delivery App, in Lagos State, reports This Day Live. Ekeneze Technologies is a technology start-up founded by Nigerian diaspora technology professionals in the UK, and also registered in Nigeria. According to the compay’s Managing Director/Chief Executive, the app is a mobile phone platform which will enable users of instant delivery services to be able to hail bicycle, motorcycle, car and van delivery riders and drivers at comfort and affordably…

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Health-tech startup Estshara raises US$500,000 seed funding round to expand its user base

EGYPT – Estshara, a teleconsultations health-tech startup, has announced that it has raised US$500,000 in a Seed funding round led by Egypt Ventures. The Cairo-based healthtech startup plans on employing its newly acquired fund to expand its current user base from two million to six million by the end of the year, as well as further develop its offerings and customer care activities. The funding will allow the startup to grow faster, expand beyond its current offerings and scale up the organization with the fitting team and resources. Estshara also…

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Ride hailing startup Plentywaka patners Autochek Africa for efficient services to its customers

NIGERIA – Plentywaka, an on-demand ride hailing startup, has announced a partnership with Autochek Africa to facilitate vehicle inspection, financing and maintenance for its teeming number of vehicle partners.  This partnership comes in the wake of plans to expand the Plentywaka Dailywaka ride-sharing service to over 7 new routes in a few days. “Just like Plentywaka, Autocheck Africa was born out of a need to disrupt an underutilized and unstructured industry,” Speaking on the partnership Onyeka Akumah, Co-Founder and CEO of Plentywaka said. “Now, a partner or heroes on Plentywaka…

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Lending startup Akiba Digital raises US$1.1m pre-seed funding to scale up

SOUTH AFRICA – Akiba Digital, a fintech startup that is lowering the barriers to entry to enable small businesses to unlock financing through their lending partners, has raised over US$1.1 million in pre-seed funding to help it grow its market share. Founded in 2017, Akiba Digital enables lenders to better extend capital to small businesses and individuals, providing nuanced credit insights and real-time lending decisions. The startup uses alternative datasets to provide inclusive scores that allow lenders to score people and small businesses that cannot be reached by traditional credit bureaus –…

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Healthtech startup CribMD acquires Charisland Pharmaceuticals

NIGERIA – CribMD, a healthtech startup, has announced its acquisition of Charisland Pharmaceuticals Group to ensure fast and efficient one-hour drug deliveries to its patients across Nigeria. The acquisition comes on the heels of CribMD’s US$2.6 million seed round in May 2021, which the startup says was oversubscribed. According to CribMD’s CEO, Ifeanyi Ossai, users would not need to wait two days for the delivery of their medications. Now, it can be sent to their homes, offices, or hotels in as little as one hour. Charisland Pharmaceuticals Group was founded…

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E-commerce startup LNKO raises US$335,000 investment to accelerate its growth

MOROCCO – LNKO, an ecommerce business focusing on stylish eyewear, has received a 3 million Dirham (US$335,000) investment from CDG Invest, the investment branch of the CDG group. This seed capital will help LNKO to advance from the seed phase to the acceleration phase, allowing the startup to accelerate its growth in the MENA region, beginning with the United Arab Emirates, a market that is ten times larger than the Moroccan market. This phase will also contribute to the creation of clean technology tools, as well as an ambitious recruitment…

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