Cleantech Qotto embarks on growth plan backed by $8M funding
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Qotto, a solar kits provider with operations in Burkina Faso and Benin, has raised $8 million in a Series A equity-debt round led by the IBL group, a billion-dollar conglomerate headquartered in Mauritius with business interests in a number of sectors including energy, financial services, logistics, distribution, and engineering. The Off-Grid Energy Access Fund (FEI-OGEF),…

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BuuPass raises $1.3M to scale mobility sector digitization in Africa
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The public transport sector in Kenya is largely traditional and a majority of operators, especially those in road travel, still require their clients to physically book tickets at their offices even when making advance travel plans. Others do not have provisions for seat reservation. Looking to bridge the gap, booking platforms are emerging in the…

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The Global Black Syndicate is keen on backing more black-founded startups across the globe
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When Craig Dixon gets asked why he has an entrepreneurial perspective on life, he quickly refers people to his roots as the child of Jamaican immigrants in the United States. Both his parents came separately to the United States, from Kingston, Jamaica, in the late 1960s and early 1970s, in order to pursue better financial…

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Yodawy raises $16 million in initial close of Series B round
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Digital healthcare startup, Yodawy has successfully raised $16 million in the first close of its Series B. The round was co-led by Delivery Hero Ventures – the venture capital arm of leading global food delivery platform Delivery Hero, and Global Ventures – an international, UAE-based, venture capital firm investing across MEA.  AAIC Investment – a…

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South African startup, Sendmarc, closes $7 million Series A to expand its team
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In 2020, Sam Hutchinson (CEO), Keith Thompson, and Sacha Matulovich (CSO) launched Sendmarc to resolve email impersonation issues for their former clients and make the internet safer for their new customers. Sendmarc helps its customers solve this problem by locking down their email domains and monitoring for attempted abuse.  Matulovich stated that the company base…

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Moroccan agritech Sand to Green raises $1 million Seed round
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Sand-to-Green, a Moroccan startup, has just raised funds from multiple investors to deploy its solutions around the kingdom. This $1 million seed funding also signals the participation of different Business Angels and two VC funds, specifically the Norwegian Katapult and the pre-seed fund Catalyst, into the Sand to Green capital. After three years of research…

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Partech hits first close of largest Africa-focused fund, at €245M
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Partech, the global VC firm with several funds, has reached first close of Partech Africa II at €245 million (~$263 million), making it the largest Africa-focused fund yet.  The firm, which focuses on early- and growth-stage startups across the continent, intended to raise about €230 million (~$250 million) for its second African fund and reach a first close at…

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Gameball raises $3.5 million Seed round
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Gameball, the all-in-one customer intelligence and marketing CRM platform for consumer brands, has announced the completion of a $3.5 million fundraising to accelerate its international expansion. A roster of global investors joined the company’s seed round including 500 Global; Africa-focused funds P1 Ventures and Launch Africa; as well as Middle East firms Seedra Ventures, Arzan…

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African tech startup funding passes $3bn mark in 2022
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Investment into the African tech startup ecosystem passed the US$3 billion mark for the first time in 2022, with the space withstanding global economic headwinds to post a record year. This is according to the eighth edition of the annual African Tech Startups Funding Report released by startup news and research portal Disrupt Africa, which is available free…

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Nigeria’s SunFi Raises $2.3M Seed Funding To Grow Its Operations
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SunFI, a Nigerian clean tech firm, has announced a $2.325 million initial round. The investment, according to the company’s CEO, Rotimi Thomas, would help SunFi increase its operations and strengthen its capacity to propose the best systems at the lowest cost to customers. Factor[e] in Nairobi and Sterling Bank’s SCM Capital Asset Management led the finance.…

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Vantage announces final close of 4th mezzanine fund
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Vantage Capital, Africa’s largest mezzanine fund manager, announced the final close on its fourth mezzanine fund. A total of $377 million of commitments has been secured from a mix of European and US-based commercial investors, as well as a host of development finance institutions (DFIs) that include IFC, BII, SIFEM, DEG, Norfund, Swedfund, Finnfund and…

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Orange Ventures Invests $1M In Moroccan Ecommerce Startup Chari
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Orange Ventures, Orange’s venture capital investment arm, has invested $1 million in Chari’s most recent round of fundraising. On this occasion, Grégoire de Padirac, Partner of Orange Ventures Middle East & Africa, joins Chari’s Supervisory Board. “We are delighted to have been among the first investors in the Chari adventure, and we look forward to…

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