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Egypt’s Dsquares Secures New Funding For Expansion Outside Egypt

Algebra Ventures’ portfolio company Dsquares, which provides businesses with unique full-service loyalty and rewards solutions aimed at keeping customers loyal, has secured fresh funds to fuel its expansion, almost two after its last funding.  “The LCP partnership and investment will help Dsquares expedite its clients and merchants expansion plans in the Middle East, Africa and Europe and maintain its position as the loyalty & rewards solutions leader in the region,” Marwan Kenawy, the co-founder and CEO of Dsquares, said.  Here Is What You Need To Know Although the exact amount involved in this round of funding was undisclosed, the investment came from Egyptian private equity firm Lorax Capital Partners....

54Gene Launches Africa’s First Private Lab for Human Genome Sequencing

NIGERIA – 54Gene, a health tech startup, has announced the completion of a lab capable of carrying out whole genome sequencing of humans. Abasi Ene-Obong, the startup’s CEO, said the lab is powered by Novaseq 6000, a best-in-class sequencing technology solution produced by American biotech company Illumina. Located in Nigeria, this lab is the product of a partnership between Illumina and 54Gene announced in the first week of September. Read also: Trueflutter Secures Funding From Three Local Angel Networks To Accelerate Its Growth Plans The African genome is believed to be the oldest human genome. As such, Africa has more genetic diversity than any other continent. However, less than 3%...

Daily Digest Tuesday, 8 December 2020

Funding In Northern Africa Egyptian Fintech Startup Zeal Rewards Secures Six-Figure Seed Funding Every time, a user pays using Zeal at a specific outlet, they collect punches (or points) that they can then redeem for different rewards (from the same outlet). So it is basically replacing loyalty cards with its digital solution that’s built on top of a payments product. Read more Funding In Western Africa Medsaf Raises US$3.5m Seed Round To Move Into Big Data Space And Geographic Expansion The startup is in the process of packing more than 89 million data points on the movement of medications in Nigeria for sale to pharmaceutical companies and has made two...

Seedstars Launches Energy, Agriculture, Mobility Innovation Challenge For African Startups

The search is on for Sub-Saharan African startups with tech solutions aimed at impacting positively lower income communities through those industries. “Start-ups have immense potential to solve Africa’s biggest development challenges and local African entrepreneurs are uniquely positioned to develop these solutions. We are excited to collaborate with Seedstars to identify and support some of the most promising African-led start-ups that will scale these solutions and improve millions of lives across the continent over time” Tara Collier, Market Development Manager, Shell Foundation. Read also: South Africa’s Car Subscription Startup, Planet42, Raises $10 Million In Debt Round Seedstars and Shell Foundation have joined forces to look for sustainable, scalable and innovative startups...

Egyptian Fintech Startup Zeal Rewards Secures Six-Figure Seed Funding

Zeal Rewards, the Egyptian fintech that enables users to link different payment methods (e.g. bank debit cards — with their Zeal accounts) and then make in-store payments by presenting the app’s QR code to a scanner at the store has secured a seed investment from an angel investor, without the exact amount of the investment, other than the fact that it is six-figure.  Read also: Coliba, Ivorian Waste Management Startup Ramps Up New Funding “With financial inclusion prioritized by the Central Bank of Egypt and a population of 100 million, Zeal is bringing Egyptians a seamless and rewarding mobile payments experience. We are targeting multi-sited food and beverage outlets,...

Medsaf Raises US$3.5m Seed Round To Move Into Big Data Space And Geographic Expansion

NIGERIA – Medsaf, an enterprise pharmaceutical supply chain solution, has raised US$3.5 million seed round as it continues to move into the lucrative big data space. The startup is in the process of packing more than 89 million data points on the movement of medications in Nigeria for sale to pharmaceutical companies and has made two data sales to date. Read also: Kenyan Off-grid Startup SunCulture Raises $14m To Flood Africa With Solar Water Pumps Founded in 2017 by Vivian Nwakah, Medsaf connects suppliers to hospitals and pharmacies directly in order to make the pharmaceutical supply chain more efficient. “The lack of proper supply chain infrastructure drives health care stakeholders...

Trueflutter Secures Funding From Three Local Angel Networks To Accelerate Its Growth Plans

NIGERIA – Trueflutter, a social app startup, has announced an undisclosed amount of funding from Lagos Angel Network (LAN), SSE Angel Network (SSEAN) and SGC7375 local angel networks to accelerate its growth plans Co-founded by the chief executive officer (CEO) Dare Olatoye in 2018, the startup helps people find suitable partners through algorithms that take people’s preferences and concerns into consideration. Read also: South Africa’s Car Subscription Startup, Planet42, Raises $10 Million In Debt Round The funds will be used to expand across Africa. According to Olatoye, “The investment will help us accelerate our ambitious growth plans and take it to Africans across the globe.” “The backing of these networks...

Kenyan Startup Launches Lease-To-Own Vehicle Marketplace

A Kenyan-based vehicle financial management startup, Motoqaa, announced the launch of a new digital platform that allows gig workers in the taxi-hailing industry to acquire vehicles at any time. Created by Motoqaa in June 2020, the platform is a lease-to-own vehicle marketplace. The new and innovative marketplace will allow taxi industry professionals to acquire vehicles from various lessors at the end of the lease period with no additional costs to the drivers.  Read also: South Africa’s Car Subscription Startup, Planet42, Raises $10 Million In Debt Round Motoqaa is responsible for the sourcing of drivers, collecting payments, and operations that ensure vehicles and drivers are kept on the road. The...

Coliba, Ivorian Waste Management Startup Ramps Up New Funding

The Ivorian based waste management startup Coliba, which has developed a recycling and waste management platform using an interactive and innovative waste management web and mobile application that connects households and businesses with affiliated plastic waste collectors. The new funding came through Belgian entrepreneur, Rudi De Kerpel. The startup had earlier raised equity funding from the Dakar Network Angels last year, and grant cash from the GSMA Ecosystem Accelerator in 2018, and back in March secured investment from the Frankfurt-based GreenTec Capital. It has now raised more from De Kerpel, who has extensive experience in the circular economy and has invested an undisclosed amount. Read also: CcHUB Syndicate Launches...

Kenyan Off-grid Startup SunCulture Raises $14m To Flood Africa With Solar Water Pumps

Innovative startup SunCulture has raised $ 14 million in funding, a sum that will allow it to expand its activities across Africa. Created by Samir Ibrahim and Charlie Nichols, the start-up provides solar irrigation systems that would allow farmers on the continent to earn five to ten times more income. Here Is What You Need To Know The $14 million funding came from investors including Energy Access Ventures (EAV), Électricité de France (EDF), Acumen Capital Partners (ACP) and Dream Project Incubators (DPI).Armed with the investment, SunCulture will expand its footprint in Kenya, Ethiopia, Uganda, Zambia, Senegal, Togo and Cote D’Ivoire.  Read also: Fintech Startup CredPal Secures US$1.5m In Funding Round For Credit...

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