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SA founded water drone startup Ranmarine Technology lands Series-A investment

Netherland-based startup RanMarine Technology, founded by South African Richard Hardiman, has netted a Series-A investment from European investor Boundary Holding. The startup has designed the WasteShark a 24-hour on-the-water drone. The solar-powered drone collects detritus, marine waste and chemical substances from ports and canals. While Hardiman (pictured above) founded the startup in 2015 in South Africa, the company was later re-incorporated in the Netherlands at the start of 2018 as RanMarine Technology BV. The deal was initially reported in the London Daily Post in an article on Tuesday (26 May). Hardiman (pictured above) told Ventureburn in an email yesterday that Boundary Holding invested in the startup’s European entity. The deal was in the works...

Benin Business Angel Network invests US$16K in Ylomi

Ylomi, an online service that matches customers with vetted local professionals, has raised CFA10 million (US$16,600) in seed funding to strengthen its team with a focus on scaling.  The equity investment, which will come with mentoring for the team and other in-kind support, was made in Ylomi by the Benin Business Angel Network (BBAN).  BBAN is a network of Business Angels based in Benin. Launched in April 2019 at the end of the Early Stage Startup Investment Conference (ESSIC), it is made up of local entrepreneurs and the diaspora, investors and professionals willing to invest their money, open their networks and guide ecosystem entrepreneurs.  Next article: InspiraFarms closes Series B to...

AFRICAN NEOBANK, EVERSEND EXCEEDS TARGET OF €550,000 IN SEEDRS CROWDFUNDING CAMPAIGN

African Neobank, Eversend, has successfully exceeded its initial target of €550,000 crowdfunding target through its Seedrs crowdfunding campaign. This comes after Eversend announced Its plans to hold a crowdfunding campaign on Europe’s largest equity platform, Seedrs. Eversend is an African neobank with a multi-currency e-wallet that allows people to exchange, spend, and send money across borders, Insurance, virtual debit cards, and bill payments. The company now offers 7.67% with a €6,616,739 pre-money valuation. The company stated, “For Africans and Africans in the diaspora that experiences inconvenient and expensive financial services, Eversend is a one-stop financial services hub to exchange, save, manage and send money at the best possible rates, both...

Afriscaper Research Report: Nigeria Mobile Phone Market

Scroll to bottom of the page here and download full power-point version of the report Afriscaper Research & Consulting recently executed a Nigeria Mobile Phone Market research project & report on behalf of KaiOS, focusing on Internet Usage. You can check out the report on the KaiOS website, by scrolling to the bottom of the page for the Afriscaper reference and to download the full powerpoint version. A massive project which covered several states in Nigeria, across the various geo-political locations, the outcome of the research revealed deep insights & data, several trends, factors and socio-economic drivers influencing the proliferation of mobile devices and internet usage among...

Weekend Feature: COVID-19 Highlights Digital Divide in Emerging Markets

Introduction The COViD-19 pandemic has caused the shut down of schools, airports, restaurants, entertainment venues, places of worship, offices and more locations all over the world. In emerging markets across Asia, LATAM, Africa and parts of Europe the digital divide has never been this pronounced. The Internet provides alternatives in developed markets In developed markets, the internet has helped to overcome some of the challenges. For the challenge of schools being shut down, the education sector resorted to online classes; for businesses, video conferencing has become the new normal; for shopping, ecommerce platforms and delivery services have been leveraged; for entertainment, people have been drawn to video streaming services. A...

InspiraFarms closes Series B to roll out solar powered cold storage units across Africa

Expanding the cold chain across the African continent is both necessary and hard. A better network of cold storage facilities is necessary to drive down food waste and enable wider access to fresher produce. And it’s difficult due to high installation costs and all sorts of risks, most notably those surrounding intermittent electricity supplies and connectivity in rural areas. Nevertheless, things are opening up thanks to cheaper and better solar power, and access to financing options. One company making a move here is UK-headquartered InspiraFarms. The firm designs, finances and supplies energy-efficient and solar-powered cold rooms to agribusinesses and food distributors in East and Southern Africa. Next Article: African...

Daily Digest Friday, 29 May 2020

Funding In Africa InspiraFarms closes Series B to roll out solar powered cold storage units across Africa Expanding the cold chain across the African continent is both necessary and hard. A better network of cold storage facilities is necessary to drive down food waste and enable wider access to fresher produce. And it’s difficult due to high installation costs and all sorts of risks, most notably those surrounding intermittent electricity supplies and connectivity in rural areas. Read more Carry1st Raises $2.5m Seed Funding To Create Unique Gaming Content and Expand User Base in Africa The round which was led by CRE Venture Capital brings the startup’s total...

Carry1st Raises $2.5m Seed Funding To Create Unique Gaming Content and Expand User Base in Africa

Gaming Start-up, Carry1st has raised N975 million ($2.5M) seed funding to boost its mobile gaming business across Africa. The round which was led by CRE Venture Capital brings the startup’s total funding to about N1.56 billion ($4M). The company intends to use part of the funds raised to create more unique gaming content for its platform The company’s co-founder, Cordel Robbin-Coker also revealed they intend to spend at least 1 million dollars in acquiring users and scaling its user base. Next Article: New Report Ranks South Africa, Kenya and Rwanda As Africa ’s Top Startup Ecosystems “We want to dedicate at least a million dollars to actually going out...

NextProtein closes $11.2m Series A to scale up insect production in Tunisia

NextProtein, a French-Tunisian startup working on new ways to produce insect-based animal feed and fertilizer, has raised €10.2 million ($11.2 million) in Series A funding, the company disclosed . According to AgFunder data, this is the largest early-stage agrifoodtech deal in Tunisia yet. Leading the round were a group of investors drawn together by Blue Oceans Partners, including Telos Impact and RAISE Impact. Further support came from Mirova and Althelia Sustainable Ocean Fund, along with Japan’s Kepple Africa Ventures and Aucfan Incubate Inc (since its founding in 2015, nextProtein has also secured funds from investors including Kima Ventures and angels Khaled Helioui and Cyril Grislain.) Using EU-approved organic waste to raise black soldier fly larvae for animal feedstocks, nextProtein will first target...

New Report Ranks South Africa, Kenya and Rwanda As Africa ’s Top Startup Ecosystems

Although much of Africa ’s fundraising has gone to Nigeria in the past two years, a new report by the India-based global startup data firm, StartupBlink, code-named StartupBlink Ecosystem Rankings Report has ranked South Africa, Kenya and Rwanda as the continent’s top startup ecosystems.  According to the report, globally the US has maintained a substantial ranking gap from all other countries, the big four also includes the UK, Israel, and Canada. The only change that differs from 2019 in the Big 4 is between Israel (3rd) and Canada (4th).According to the report also, the highest placed country new to the top 100 is Taiwan, ranking 30th; an impressive...

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