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13 Egyptian Startups Secure Funding From Startup Accelerator Changelabs

cheap neurontin Startup accelerator Changelabs is set to hold its second cohort demo day on 30 September, providing an opportunity for innovative start-ups to secure funds for their businesses. Changelabs said in a statement that startups that are poised to create significant economic value and deliver jobs have joined the Changelabs accelerator program in partnership with several leading sponsors, including Green for Growth Fund, Amazon Web Services, and the Dutch entrepreneurial development bank FMO. Here Is What You Need To Know Thirteen start-ups have joined the program, including Delta Oil (an Egyptian green energy startup focused on oil recycling), Dizaria (the first electric vehicle charging service provider in Egypt), Hand Over (a...

Seven African Tech Startups Receive Funding

MEST Africa has announced its funding round of $700 000 for seven selected African tech startups that have graduated from its 2020 training programme.   The selected seven startups will not only receive funding but take part in the MEST Africa incubation programme Ashwin Ravichandran, managing director of MEST Africa comments on this year’s cohort of selected African tech startups.  “We are blown away by the perseverance and talent we have seen in our entrepreneurs this year, as it has been a year filled with unexpected twists and turns.” Each of the seven startups will receive $100 000 in funding and join the MEST incubators in Ghana, Nigeria, Kenya, and South...

Daily Digest Friday, 25 September 2020

Funding In Africa Endeavor Catalyst Raises $134M For Investments In African Startups This $134M Fund III represents the largest Endeavor Catalyst fund to date surpassing the $120M target goal originally set and brings Endeavor Catalyst’s total assets under management (“AUM”) up to $250M. Read more Funding In West Africa Pan-African Software Company AirSmart Secures $100,000 In Investment The Nigerian-based firm will use the funds to get the flagship product, SmatCrows, to customers in Nigeria and support the product launch. Read more Solar Home Systems Provider, Lumos Secures US$35m From DFC To Scale Up Operations In Nigeria The new financing will enable Lumos to produce an additional 160,000 solar home systems (SHS) to...

Pan-African Software Company AirSmart Secures $100,000 In Investment

Pan-African Software company, AirSmat has received funding of $100,000 from Zetogon, a UK-based company, as pre-seeding investment to help the organization on the journey to deliver world-class service in the African continent. The Nigerian-based firm will use the funds to get the flagship product, SmatCrows, to customers in Nigeria and support the product launch. Speaking on the investment, the Chief Technology Officer, Adeoluwa Ibikunle, said: “The new investment will enable AirSmat to further build on its position as a startup that helps customers to proactively take business decisions backed by intelligence obtained from AirSmat AI-based platform. We are starting out with food security for the continent; our solution allows smart...

New E-Commerce Platform Launches To Support SMEs

A new e-Commerce platform, ShopESpot, has launched and aims to provide SMEs, business owners, and entrepreneurs an easy-to-use the platform to move their business into the online market. The impact of Covid-19 has caused many small businesses to reinvent themselves with a shift towards creating an online presence to manage sales and increase their customer reach.   Lisa Sukdev, Chief Sales and Marketing Director of ShopESpot explains the importance of businesses creating an online presence to bolster their business revenue.  Read also; Foodics Expands To Egypt And Hopes To Become Micro-Loan Lender “The Covid-19 pandemic has brought about disruptive innovation whereby trends, such as shifting business to an online platform, have...

Kenya Unveils First Diaspora Investment Fund

Kenya has introduced its first licensed investment fund for citizens living overseas, in a move that is expected to channel more of the diaspora’s money into development projects across the country. Almost three million Kenyans living in mostly North America and Europe sent an estimated $3bn in remittances to Kenya last year, representing the largest source of foreign exchange for the country. While remittances are usually sent to families, direct investment is also common. Though studies have shown that difficult procedures, lack of information and informal channels often lead to unsuccessful ventures.   Read also; Airtel Africa partners MoneyGram to ease fund transfer Kenya’s diaspora can now make investments...

Solar Home Systems Provider, Lumos Secures US$35m From DFC To Scale Up Operations In Nigeria

NIGERIA – Lumos, Africa’s solar home system provider, has secured US$35m from US International Development Finance Corporation (DFC), to expand its existing market for reliable, accessible and clean solar power in Nigeria. The new financing will enable Lumos to produce an additional 160,000 solar home systems (SHS) to meet ever-increasing demand from homes and businesses across the country. Currently, more than 160 million people in Nigeria have poor or no access to the electricity grid. Hundreds of thousands of new Lumos solar home systems will enable close to a million people to switch to reliable, clean energy, contributing to economic growth and sustainable development in the country. Currently, more...

Endeavor Catalyst Raises $134M For Investments In African Startups

AFRICA – African startups have a hot new fund to tap from courtesy of Endeavor Catalyst, the innovative $100M+ co-investment fund that invests in qualifying rounds of $5M+in both early stage and late stage startups built by Endeavor Entrepreneurs. The fund has closed its third fund at $134 million. Read also; Applications For V&A Waterfront Kitchen Incubator Opens This $134M Fund III represents the largest Endeavor Catalyst fund to date surpassing the $120M target goal originally set and brings Endeavor Catalyst’s total assets under management (“AUM”) up to $250M. The $134 million 3rd Fund “Endeavor Catalyst III” saw investments from Jordan’s Innovative Startups and small and medium enterprises (SMEs) Fund (ISSF) which...

Daily Digest Thursday 24 September 2020

Latest News ZSE Launches Direct Trading Platform With Goal To Get More Ordinary People Investing At the launch event, ZSE noted that the creation of the platform was prompted by a survey conducted earlier this year. The survey concluded that participation by Zimbabwean individuals in capital markets was marginal. Read more Funding In West Africa Greenlight Planet Inc. Secures $90 Million Funding For Expansion Greenlight Planet Inc., the largest provider of solar-powered home energy products in sub-Saharan Africa and South Asia, has secured $90 million in new funding to expand its Pay-As-You-Go (PAYG) solar consumer financing business and consolidate its debt portfolio. Read more Acquisitions & Partnerships Retailability Acquires Parts...

Greenlight Planet Inc. Secures $90 Million Funding For Expansion

Image: Africa Business Communities KENYA – Greenlight Planet Inc., the largest provider of solar-powered home energy products in sub-Saharan Africa and South Asia, has secured $90 million in new funding to expand its Pay-As-You-Go (PAYG) solar consumer financing business and consolidate its debt portfolio. Under its Sun King brand, Greenlight Planet operates the largest direct-to-consumer PAYG solar distribution and service network in the world, having delivered over 1.3 million PAYG solar products to date in Kenya, Tanzania, Uganda, and Nigeria, expanding at a rate of over 65,000 new rooftop solar installations per month. The company employs 1,250 full-time staff worldwide and over 5,500 sales agents, 30% of whom are...

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