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Daily Digest Friday 27, November 2020

Funding In Africa Africa-Focused Travel Tech Startup Raises Six-Figure Seed Funding The funding received will be utilised for the launch of the new travel platform, focusing on Namibia as its first destination for travellers. In addition, the funds will be used towards the building of a functional and reliable MVP, including the tailoring of trips, the ability or customise trips according to users’ preferences, and instant booking. Read more Salesforce Ventures Joins AppsFlyer’s $210M Series D Round For Africa Growth AppsFlyer has secured more than $300 million in funding since 2011, and has seen tremendous growth since its $210 million series D round, announced earlier this year. Read...

Zimbabwean Businessman Adam Molai Just Launched A $1 Million VC Fund For African Startups

Jeff Bezos has rattled Africa’s sleeping super rich rings. After partly committing $30 million into Africa-focused startup Chipper Cash, the doors seem to have opened and Africa’s richest people are beginning to show that they care about the continent’s nascent startup ecosystem. Businessman Adam Molai of Zimbabwe and owner of Pacific Cigarette Company has led the match with the launch of a new $1 million venture capital fund aimed at providing African start-ups with the needed financing. Read also: 5G Consumer Market To Reach $31 Trillion By 2030 Here Is What You Need To Know Called the JUA Kickstarter Fund, the fund will provide startup capital to African startups...

Salesforce Ventures Joins AppsFlyer’s $210M Series D Round For Africa Growth

Salesforce Ventures, a venture firm of Salesforce has joined AppsFlyer‘s roster of investors in a late-stage extension of its $210 million series D round led by General Atlantic earlier this year, this new funding will help the firm to bring market-leading technology to Africa. AppsFlyer, the mobile marketing analytics firm, will use the funding to double its team focused on the African market in 2021. “We’re incredibly excited to deepen our integration with Salesforce and Salesforce Ventures, as we take another step towards ensuring that marketers, app developers, and the entire ecosystem is armed with the best marketing tech stack for the challenges of tomorrow,” said Oren Kaniel,...

Africa-Focused Travel Tech Startup Raises Six-Figure Seed Funding

Africa-focused travel tech platform, Viatu has raised a reported multi-million rand investment deal from a number of undisclosed investors. The funding received will be utilised for the launch of the new travel platform, focusing on Namibia as its first destination for travellers. In addition, the funds will be used towards the building of a functional and reliable MVP, including the tailoring of trips, the ability or customise trips according to users’ preferences, and instant booking. Read also: Black Friday Tips For Small Business Owners Alfredo Seidemann, Founder and CEO of Viatu comments on the investment. “I’m very excited about where we are. To see so many people support our mission, it’s...

Daily Digest Thursday 26, November 2020

Funding In East Africa Uganda’s Motorcycle Financing Startup Tugende Raises $6.3M Series A Led By Toyota Tsusho The funding round was led by Toyota Tsusho investment fund Mobility 54 with participation from U.S.-based Global Partnerships’ Social Venture Fund, and current shareholders including Denali Venture Philanthropy and Segal Family Foundation, and new angel investors. Read more Funding In Emerging Markets Zambian Women-Led Startup Receives Funding In an official press release, Liliane Munezero Ndabaneze, CEO of WidEnergy Africa said that the aim of the investment is to assist Zambians in rural areas who don’t have access to clean energy solutions. Read more Latest News 5G Consumer Market To Reach $31 Trillion By 2030 The report...

Uganda’s Motorcycle Financing Startup Tugende Raises $6.3M Series A Led By Toyota Tsusho

Tugende, a technology-enabled asset finance company operating in Uganda and Kenya last month raised $6.3M Series A investment round to further enhance its technology platform, both for internal operations and client-facing offerings—including its automated credit scoring platform. The funding round was led by Toyota Tsusho investment fund Mobility 54 with participation from U.S.-based Global Partnerships’ Social Venture Fund, and current shareholders including Denali Venture Philanthropy and Segal Family Foundation, and new angel investors. “We are extremely delighted to participate in this investment for Tugende,” said Takeshi Watanabe, CEO of Mobility 54. “Financial inclusion for MSMEs and individual business entrepreneurs is a critical success factor for sustainable development...

Zambian Women-Led Startup Receives Funding

Zambian women-led energy startup, WidEnergy Africa has received an undisclosed investment from ShEquity, an investment vehicle that offers smart and sustainable investments to African women entrepreneurs and innovators.  In an official press release, Liliane Munezero Ndabaneze, CEO of WidEnergy Africa said that the aim of the investment is to assist Zambians in rural areas who don’t have access to clean energy solutions. Read also: Fintech Startup Pass Raises Pre-Seed Round In Its Expansion Plan “We are committed to improving the lives of many people living without reliable electricity and energy. More especially during the current Covid days. With a business as capital intensive and demanding as ours, “who support you” along...

5G Consumer Market To Reach $31 Trillion By 2030

Indications have emerged that the 5G consumer market will grow to $31 trillion by 2030 especially at the rate e-commerce and other Internet of Things are growing. This was contained in a report from Ericsson ConsumerLab called Harnessing the 5G Consumer Potential. The report estimates that communications service providers (CSPs) could earn $3.7 trillion of that total – a figure that could increase further as new adjacent digital services opportunities arise. The report also says that CSPs could generate up to $131 billion by 2030 from digital service revenues alone, by proactively bundling and marketing 5G use cases. About 40% of these revenue projections are attributed to consumer spending on...

Daily Digest Wednesday 25 November 2020

Funding in North Africa Apart From Fashion, Investors Are Increasing Their Interests In Egypt’s Gaming Startups As Eksab Raises $500,000 Africa’s gaming ecosystem is still developing. Building on the success of “Aurion’s Heritage of Kori-Odan”, which in 2016 became the very first video game made in Cameroon, Cameroonian startup Kiro’o Games, last Ocotber, announced it has raised $342k as part of a fundraising campaign it launched in 2019. Read more Latest News South Africa’s Absa Is All Out For Startups, Launches 1000 Tech Entrepreneurs Program And Free Banking For Startups The 12-month program aims to assist founders with business growth and development. The program consists of bootcamps that have already begun...

South Africa’s Absa Is All Out For Startups, Launches 1000 Tech Entrepreneurs Program And Free Banking For Startups

More and more corporates in South Africa are throwing their weight behind startups in the country. Toeing the path of Naspers, one of the country’s leading banks, Absa, has launched the 2nd Phase of its 1,000 Tech Entrepreneurs program, an initiative aimed at giving local entrepreneurs the opportunity to set up technology companies. The 12-month program aims to assist founders with business growth and development. The program consists of bootcamps that have already begun at the beginning of November 2020. It will end in March 2021.  “This year has shown us more than ever, that large corporates should be supporting entrepreneurial ventures in order to create...

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