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Orange launches Social Venture Prize in Africa and the Middle East to encourage entrepreneurship
Since 2011, the OSVP prize has been rewarding innovative start-up projects that use and develop new technologies to make a positive impact in Africa and the Middle East
VC firm Golden Gate Ventures expands footprint into MENA region
Golden Gate Ventures, a venture capital fund founded by Silicon Valley natives, has announced the establishment of their first MENA office.
Seedstars launches FIWAM program to boost financial inclusion for women migrants
Seedstars has launched a program to promote financial inclusion for women.
Saudi Arabian HR tech startup Palm.hr raises $5m pre-Series A round to expand across the MENA region
Palm.hr, a Saudi Arabian HR firm that automates payroll, tracks leaves and absences and monitors employee performance, announced it has secured $5 million in a pre-Series A round.
Modus expands to Sub-Saharan Africa with launch of $75m Africa-focused fund
Modus, a Venture Platform operating in MENA comprising VC funds, Venture Builders, and a Corporate Innovation arm, has announced the launch of Modus Africa – a $75 million SDG-focused VC fund that will invest in Africa’s boldest startups.
UAE fintech startup Pemo launches all-in-one spend management platform for MENA SMEs
Pemo, the UAE-based fintech startup empowering businesses across the Middle East, North Africa and Pakistan (MENAP),has announced that it has launched its all-in-one spend management platform.
Healthtech startup Esaal raises $1.7m seed round to scale expansion across the MENA region
Esaal, an online health and wellness consultation platform for patients in the Middle East and North Africa (MENA), has wrapped a $1.7 million seed funding round, to scale its expansion across the MENA region.
CE-Creates merges with hatch & boost in MENA's first venture-builder merger for startups
CE-Creates, the business incubation platform of Crescent Enterprises, has completed the merger of its portfolio of startups with hatch & boost, an Abu Dhabi-based venture-builder dedicated to ‘hatching’ startup ideas.
Logistics startup Swvl acquires Volt Lines, enters European market
Swvl Holdings, a global provider of transformative tech-enabled mass transit solutions announced a definitive agreement to acquire Volt Lines, a Turkey-based B2B and Transport as a Service mobility business.
Egyptian e-Sport startup Eksab raises $3m seed funding to scale its fantasy football platform
Cairo-headquartered e-Sport startup has raised $3 million seed funding round, bringing the company’s total investment to date to $3.7 million.
Vehicle financing startup Moove partners with Swvl for EV buses across the MENAP region
Egypt’s on-demand bus-hailing company Swvl, announced a new partnership with African fintech mobility startup Moove to scale Moove’s revenue-based vehicle financing model across the MENAP region.
Healthtech startup Altibbi raises $44m to scale growth across the MENA region
Middle East’s AI-based digital health platform Altibbi, has raised $44 million in Series B fund funding led by Foundation Holdings, Hikma Ventures and existing investors Global Ventures and DASH Ventures.
MENA's c-Commerce startup Zbooni launches in Egypt
Zbooni, MENA's c-Commerce (connected commerce) platform, has announced its official launch in Egypt. The rapidly scaling startup, which is backed by regional and global investors, will support the backbone of the Egyptian economy.
Egyptian digital investment startup Thndr raises $20m to democratize investing in the MENA region
Thndr, the Egyptian digital investment platform, announced a new $20 million series A investment round co-led by Tiger Global, BECO Capital and Prosus Ventures.
Pakistani logistics startup Truck It In raises $13m seed round to transform the road freight industry
Pakistan’s logistics tech startup Truck It In closed $13 million seed round jointly led by venture capital firms Global Founders Capital and Fatima Gobi Ventures.
B2B marketplace startup Retailo raises $36m Series A funding to empower community commerce in the MENA region
Retailo, the B2B marketplace startup for retailers in Middle East, North Africa, and Pakistan (MENAP), has raised $36 million in its Series A investment round which was a mix of equity and venture debt.
IFC, ADGM launch She Wins Arabia initiative to boost opportunities for women-led startups and businesses across MENA
IFC and Abu Dhabi Global Market (ADGM) launched She Wins Arabia, an initiative to help women-led startups across the MENA region, get the advice, finance, and mentorship they need to grow.
MENA’s media & entertainment startup Minly acquires Dubai’s celebrity shoutout platform Oulo
Minly, the MENA region’s media & entertainment startup, announced the acquisition of Oulo, a Dubai-based celebrity shoutout platform focused on the Levant region.
French real-time engagement startup Sparkup expands in the Middle East
Sparkup, a French startup specializing in real-time engagement solutions, has chosen to expand in the Middle East and will introduce its latest innovations at GITEX and CABSAT in Dubai.
Egyptian healthtech startup Sotech raises $1m in pre-seed funding to fuel growth
Sotech, an Egyptian e-health startup that specializes in smart IoT, trackable OOH advertising, and data gathering has raised $1 million in pre-seed funding round to scale its operations into the rest of the MENA region.
Banque Misr partners with Microsoft to support fintech startups in Egypt
Banque Misr signed a Memorandum of Understanding (MoU), with Microsoft Egypt to launch the first open innovation program in the Egyptian market, enabling a spurt in fintech startup growth.
Healthtech startup BASMA.com raises $3m Series A round to scale up its platform in the MENA region
UK-based, MENA focused, startup BASMA.com closed $3 million Series A funding led by MEVP with the participation of SOSF, IM capital and returning investors iSME, Cedar Mundi Ventures and IFA capital, to scale up its healthtech platform in the MENA region.
Nano raises $90m pre-IPO funding round to accelerate growth
Nano Cures (Nano), a clinical stage biotechnology and infectious disease immunity platform company, announced a $90 million pre-IPO funding round.
Teleporter mobile app 360VUZ joins first "Google for Startups Accelerator" in the MENA region
360VUZ, the immersive video mobile app was selected to join the first ever "Google for Startups Accelerator" in the MENA region, that is held by Google as part of its "Grow Stronger with Google Initiative"
UK startup Quantexa raises $64.7m to drive hyper-growth in big data and analytics ecosystem
Quantexa, the contextual decision intelligence software company, announced that it has raised $64.7 million in Series C funding led by Evolution Equity Partners, with major participation from existing investors.
French startup AB Tasty raises $40m to lead in experience optimization, feature management markets
French startup AB Tasty announced a Series C round of funding to revolutionize how companies deliver the best brand and product experiences.
Swiss cleantech stratup Insolight closes Series A financing with €4.6 million
Swiss cleantech stratup Insolight announced that a Series A Round of €4.6 million has successfully been closed led by Investiere, with co-investors Zürcher Kantonalbank, Swiss Immo Lab and a number of private business angels.
Italian startup TIM, United Ventures launch €150m capital fund to support investments in mature innovative enterprises
Italian startup TIM signed an agreement with United Ventures to launch UV T- Growth fund that will support investments in mature innovative enterprises and SMEs in order to develop technological projects in Italy and abroad.
Seattle based startup Polyarc raises $9 million for augmented reality development
Seattle based startup Polyarc announced the close of its $9 million Series B fund raise led by Hiro Capital, followed by Vulcan Capital, an existing investor, and Galaxy Interactive via its Galaxy EOS VC Fund.
EHF Marketing GmbH, Monaco startup IQONIQ partner to drive fan engagement in European club handball competitions
EHF Marketing GmbH, the marketing subsidiary of the European Handball Federation, announced its partnership with IQONIQ, an innovative new fan engagement platform made for sports and entertainment.
Monaco headquartered startup IQONIQ secures €100m for global expansion
IQONIQ, a new fan engagement platform exclusively targeting the world of sports and entertainment, announced it has entered into a €100 million capital funding agreement with the Luxembourg based investment corporation Lux Media Investments.
Swiss startup Advertima raises €15m Series A funding to make smart retail spaces a reality
Advertima, an emerging computer vision platform provider, announced the close of a €15 million Series A investment round led by existing shareholder Swiss real estate company, Fortimo Group.
Kenyan agritech startup Lentera, MCFI ink deal to provide satellite based crop analysis for Mauritian farmers
The Mauritius Chemical and Fertilizer Industry (MCFI), and Lentera Africa have signed a partnership that will see Lentera provide satellite-based crop health analysis and crop modelling services for Mauritian customers of MCFI.
SAP.iO Fund invests in San Francisco based reference checking startup Crosschq
SAP SE investment arm, SAP.iO Fund, has backed Crosschq, a San Francisco based company that provides a platform for creating and sharing candidate references.
Evonik invests in Chinese tech startup to support intelligent, healthier pig farming
Evonik’s venture capital arm has invested in SmartAHC, a Chinese technology startup that enables more intelligent and healthier pig farming.
African AI startup Superfluid Labs receives investment from ShEquity
GreenTec Capital announces that Superfluid Labs was selected as the first investment for the newly launched ShEquity investment vehicle which focuses on providing smart and sustainable investments for African female entrepreneurs.
Xavier Chapel joins GreenTec as Head of Venture Building
GreenTec Capital announces that Xavier Chapel has joined the team in the role of Head of Venture Building, to leverage his extensive international and entrepreneurial experience in selecting startups that best fit GreenTec investment criteria.
French startup iObeya raises $17m to revolutionize visual management, expand its U.S. footprint
iObeya, a leading provider of Enterprise Visual Management software, announced it has raised $17 million in a second round of funding from Red River West with participation from Atlantic Bridge Capital and Fortino Capital Partners.
London based health tech startup Closed Loop Medicine secures £250,000 Innovate UK continuity funding
Closed Loop Medicine (CLM), London based therapeutics and health tech company has secured a £250,000 COVID-19 Innovate UK Continuity Funding award to support its ongoing clinical research programme.
Go Ignite partners seek 5G use cases in global call for startups
Following the success of its previous global calls for startups, Go Ignite, an alliance of four leading global telcos, has launched Go Ignite: 5G Open Call for Startups to engage startups or venture capital-backed companies.
Spanish medtech startup QUIBIM closes €8 million investment round
Spanish Medtech startup QUIBIM has closed €8 million new financing in a seed funding round co-led by Amadeus Capital Partners and Adara Ventures.
Moroccan learning startup KoolSkools raises $417,000 for local, international expansion
Moroccan learning platform KoolSkools has raised $417,000 from Maroc Numeric Fund II an unnamed business angel.The investment will be used to finance the development of KoolSkools both in Morocco and internationally.
Moroccan fintech startup OnePay announces $417,000 investment from Maroc Numeric Fund II
OnePay, a Moroccan fintech startup that operates as a distributor of means of payment and aggregator of payment and value-added services in electronic transactions announced a $417,000 investment from Maroc Numeric Fund II.
[Startup Interview] Vimbai Malandu, Co-Founder, YuPlan Limited, Zimbabwe
YuPlan Limited is a Zimbabwe digital startup that allows customers to book a venue from anywhere in the world. The platform holds a selection of venues from office spaces, residential plots, gardens, school halls and sports fields among others.
Cornish startup Codices raises $800,000 seed round
Codices Interactive, a Cornish startup from the Falmouth Launchpad Incubator has closed its $800,000 seed round of funding led by the Cornwall and Isles of Scilly Investment Fund (CIOSIF) and Haatch Ventures.
Futuregrowth invests in South African online services disruptor startup SweepSouth
Futuregrowth has invested in SweepSouth, a disruptive online platform for booking, managing and paying for home cleaning, and now a variety of other services.
Kenyan startup PayGo Energy announces strategic investment from Saisan
PayGo Energy, an Energy Access Ventures portfolio company, has secured a strategic investment from Saisan, a leading Japanese energy company.
Dutch fintech startup BUX launches zero-commission investing app to French users
Dutch fintech startup BUX has launched its zero-commission investing app to French users, making it the first neobroker of its kind in the market.
Belfast health tech firm Neurovalens picked for UK startup scheme
Neurovalens, the Belfast tech company behind a headset developed to treat neurological health issues has been chosen for a major UK-wide programme.
Dutch startup Cevinio raises €4.5m to accelerate international growth
Cevinio, a fast-growing Accounts Payable software company from Rotterdam has raised €4.5 million from Endeit Capital and CNBB Venture Partners.
Dutch online startup, scale-up community funds international research into COVID-19
Eighteen entrepreneurs from the Dutch online startup and scale-up community are joining forces to finance an international study by Erasmus MC into the clinical picture of COVID-19.
South African animation and gaming startup Sea Monster secures $1m funding
Animation, gaming and AR/VR company Sea Monster announced the conclusion of a $1m investment from FirstRand’s Vumela Fund.
Pan-European micro-mobility startup Voi achieves profitability in June, secures $30m funding
Voi Technology, the pan-European micro-mobility leader announced it has reached its first-ever monthly profit at group level for the month of June, less than two years since it launched the e-scooter service which now operates across 40 cities.
French startup Ponicode raises €3m to develop Artificial Intelligence for improved code quality
Ponicode, a French start-up specialising in Artificial Intelligence and data sciences has announced a €3 million fundraising led by founder-friendly European VC, Breega, alongside Kima and Plug & Play Ventures.
London based startup TOffeeAM raises £1m in Seed funding to expand its innovative team
TOffeeAM, an Imperial College spin-out that optimizes product designs for Additive Manufacturing (AM), also known as 3D printing, has raised £1 million in seed funding.
[Startup Interview] Sanyogita Patil, CEO, Ahlan Emirate, United Arab Emirates
As small businesses struggle with visibility and constrained marketing budgets, Ahlan Emirate, a startup based in United Arab Emirates has introduced a unique marketing offering that includes free SEO, increased web presence and connecting these businesses to prospective customers through its digital directory.
CDC backs Helios Investment with $100m commitment
CDC Group, UK’s development finance institution and leading impact investor, has committed $100 million to Helios Investors IV, the fourth private equity fund raised by Helios Investment Partners, a leading Africa-focused private equity firm.
IFC helps boost clean tech startups in Egypt, enables farmers switch to solar
IFC is joining forces with the National Bank of Egypt and MSMEDA to strengthen the clean technology entrepreneurship sector and boost Egyptian farmers’ access to finance for solar irrigation.
[Startup Interview] Anton Herbst, CEO, Vincula Holdings, South Africa
Vincula Holdings, domiciled in Johannesburg South Africa, is a startup connecting employers, project sponsors, contractors, subcontractors and suppliers through a platform that also seeks to provide participants with worldwide and focused exposure to grow their market share.
Dutch startup Open Social raises €1.25m for service expansion
Amsterdam-based B2B SaaS platform for building online communities Open Social has raised €1.25 million investment from Peak Capital and Nimbus Ventures.
AWIEF launches Enterprise Development for Women-Owned Ventures in Green Energy Startup Incubator
The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has launched “Enterprise Development for Women-Owned Ventures in Green Energy” and announces the call for applications for Startup Incubator in Malawi and Nigeria.
UK property startups Goodlord and Vouch come together to create new market leader
Property technology company Goodlord will be joining forces with referencing platform Vouch, bringing the fast-growing Vouch business into the Goodlord group.
British Business Investments announces €120m commitment to LGT Capital Partners funds
British Business Investments, a commercial subsidiary of the British Business Bank, announced the third commitment through its £500m Managed Funds Programme.
Eir Ventures announces first close of €76m fund to leverage untapped potential of health care innovation
Eir Ventures, a Nordic Life Science Venture Fund, announced a first close of its new fund of €76 million to leverage untapped potential of health care innovation.
Wazoku acquires US open innovation leader InnoCentive, raises additional £1.25m to support global growth
Wazoku, idea management software and services firm has announced a new funding round of £1.25M, led by Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist.
The Digital Africa seed fund off to a promising start, offers customized support for African startups
The Digital Africa seed fund for innovative entrepreneurship in Africa is off to a promising start. Just six months on from its launch, already, one third of the €15 million for technical and financial assistance has already begun to flow.
Mali renewable energy startup SolarX closes Series A round led by Energy Access Ventures
Mali-based solar company SolarX announced the close of its Series A round led by Energy Access Ventures, an early-stage fund investing in and supporting decentralized energy companies across sub-Saharan Africa.
U.S. electric-vehicle startup Fisker completes $50m private financing to launch its Ocean all-electric luxury SUV in 2022
Fisker, designer and manufacturer of the world’s most emotionstirring, eco-friendly electric vehicles and advanced mobility solutions announced the successful completion of a $50 million Series C financing round.
Enygma Ventures invests $1m in Zambian fintech startup Lupiya
Enygma Ventures has made a $1 million investment in Zambian based micro finance startup, Lupiya. This investment, will enable Lupiya to continue to scale and roll out its services.
UK startup NumberEight raises $2.3m seed round from Nauta Capital to predict consumer behaviour
NumberEight, a contextual intelligence platform for mobile devices that predicts consumer context to deliver the right content at the right time, has closed a $2.3 million seed round led by Nauta Capital.
German startup NavVis receives €20m funding from the European Investment Bank
The European Investment Bank (EIB) and NavVis signed a contract financing of €20 million to NavVis, a global market leader in digital twin technology.
[Startup Interview] Ian Sendagala, CEO, eFoods Trade, Uganda
eFoods Trade is an African online B2B marketplace connecting African foods to the global markets. The platform targets food importers, exporters, distributors, and manufacturers. Ian Sendagala the CEO explains.
[Startup Interview] Sam Bediako-Asante, Founder, Sambed Consult, Ghana
Sambed Consult in Ghana offers management consultancy services targeting MSMES with a view to helping them improve their management and organizational performance. Sam Bediako-Asante, the startup’s founder elaborates.
Nigeria's FCMB, Passion Incubator partner to launch FCMB Agritech Epic Pitch 2020
Nigeria's First City Monument Bank (FCMB) has partnered with Passion Incubator, a Lagos-based early-stage incubator and accelerator that has invested in some Agritech startups, to launch the virtual edition of the FCMB Agritech Epic Pitch 2020.
GreenTec Capital invests in Nigerian wholesale e-commerce startup Pricepally
GreenTec Capital Partners announced its investment in Pricepally, an innovative digital Nigerian wholesale platform allowing users to purchase food and other products either individually or as a part of a group.
French startup Koala closes €1.6m seed round led by Insurtech Gateway
Paris based insurtech Koala announced an investment of €1.6 million led by London based incubator and fund Insurtech Gateway alongside Playfair Capital, Techstars Ventures and private investors.
ETF leads €7 million investment in Finnish startup Basemark
Basemark, a leading software company specialising in graphics and autonomous driving vehicle software, has successfully concluded a €7 million equity funding round by ETF Partners.
[Startup Interview] Rajat Dayal, CEO, Yabx, India
Yabx targets the unbanked population in the emerging markets of Africa, Asia, and Latin America by leveraging the digital footprints of an individual and providing tailor-made financial services. The startup’s founder and CEO Rajat Dayal explains.
British biotech startup Freeline closes $120m Series C financing round
Freeline, a biotechnology company focused on developing curative gene therapies for chronic systemic diseases announced the closing of a $120 million extended Series C financing.
Ingressive Capital grows African tech fund to $10 million
Ingressive Capital has doubled its investment vehicle to back high-growth, tech-enabled startups across Africa, and now operates a $10 million fund.
New York fintech startup CMG raises $25m to digitally connect equity capital markets participants
Capital Markets Gateway (CMG), a New York based financial technology firm modernizing the equity capital markets (ECM) announced it received a strategic investment of $25 million from several financial firms.
U.S. based startup Andela to double engineering talent pool with Pan-African expansion
Andela, the global talent network that helps companies build remote engineering teams, will now accept engineers from all African countries, expanding its presence from six countries to the entire continent.
Privacy software company OneTrust acquires Seattle based startup Integris
Atlanta-based privacy, security, data governance, and compliance technology company OneTrust announced its Integris Software acquisition.
French startup Unlatch raises $5.8m funding round by AXA Venture Partners
Unlatch, a French pioneer in digital real estate sales, announced a $5.8 million financing round, including $4.5 million in equity from AXA Venture Partners and $1.3 million in debt.
Belgium startup e-peas raises further €8 million in VC for long term growth
Award-winning Belgium start-up e-peas has raised an additional €8 million worth of investment led by Partech and Airbus Ventures, with KBC Focus Fund, W.IN.G, Noshaq Ventures, LeanSquare, Nivelinvest and Vives also contributing.
Estonian startup Veriff closes $15.5 million financing round for global expansion
Estonian identity verification startup Veriff closed a financing round of $15.5 million to ramp up global growth and sales to enterprise customers prior to a larger B-series financing round planned in the future.
MFS Africa acquires East Africa fintech startup Beyonic
East Africa fintech startup Beyonic announced that the company has been acquired by MFS Africa. MFS Africa operates Africa’s largest digital payments hub, connecting more than 200 million mobile wallets on the continent.
Nigerian fintech startup Wallets Africa raises undisclosed amount for African expansion
Nigerian fintech startup Wallets Africa has raised an undisclosed amount of funding to expand its operations and continue its quest to become Africa’s foremost borderless digital payments platform.
E-mobility startup Bolt launches electric bikes in Paris
E-mobility startup Bolt has announced the introduction of four and two-wheeled vehicles for Parisian urban commuters, who will now have the opportunity to get from A to B on a Bolt electric bike.
Interviews.
[Interview] Caroline Mutuku, General Manager, Glovo, Kenya
Caroline Mutuku is Kenya's General Manager of multi-category app Glovo. Caroline joined Glovo in December 2022 from Swvl Kenya where she also served as the General Manager from December 2021. In this interview...read more here
[Interview] Renate Swanepoel, COO, INC. Networking
Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose. She has gained significant networking and communication...read more here
[Interview] Anne-Marie Chidzero, Chief Investment Officer, FSD Africa
Anne-Marie Chidzero is the Chief Investment Officer at the Financial Sector Deepening Africa (FSD Africa) Investments. In this interview, she talks about the risks and opportunities in backing Africa’s early-stage startups...read more here
[Interview] James Kilpatrick, Chair, Gravitilab, UK
Gravitilab is a "Space as a Service" business providing research, testing and qualification facilities to space agencies, government, academia and commercial enterprises. The company’s Chair and Chief Finance Officer...read more here
[Interview] Ramanjeet Singh, CEO, Woosper, USA
Woosper is a US-based digital advertising and marketing agency focused on creating experiences that help clients discover their place in the digital world. The CEO Ramanjeet Singh...read more here