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Aramco expands global venture capital programme with $4 billion funds injection
It will take Aramco's overall venture capital allocation to $7.5bn, which also includes the $500 million venture capital fund Wa'ed Ventures that focuses on the start-up ecosystem in the Kingdom of Saudi Arabia.
Relocalize raises $2.5m seed round to decarbonize food & beverage manufacturing
Relocalize has raised $2.5m in the initial closing of $3.5m seed round.
STHL East Africa bets on demand for power tools to grow revenues
German power tools manufacturer, STIHL East Africa, has reported a significant increase in revenue in its first year of operation since upgrading its marketing office to a fully-fledged sales subsidiary.
UnitX raises $5m to elevate manufacturing quality with AI-powered defect detection
UnitX has announced a $5m investment from SE Ventures.
Hexagon announces nine startups set to transform manufacturing sustainability and digital reality
Hexagon has announced the nine startups chosen for its third Sixth Sense cohort.
Ugandan Agritech startup Emata raises $2.4m seed funding
Ugandan agritech startup Emata has raised $2.4 million in seed funding.
STIHL East Africa set to introduce battered powered products
STIHL East Africa has announced plans to introduce battery powered products in the East African Market as the firm celebrates its one year anniversary in the region.
SynBio startup Enzymit announces breakthrough in cell-free hyaluronic acid production
Enzymit announced its success in synthetically producing hyaluronic acid (HA).
Hexagon calls for startups to apply for its third Sixth Sense cohort
Hexagon's Manufacturing Intelligence division has announced a call for startups to apply for its third Sixth Sense cohort.
46VC invests in Exum Instruments' Series A funding round
FortySix Venture Capital (46VC), announced its strategic investment in Exum Instruments' Series A funding round.
Volition raises $11m to scale the world's largest industrial parts marketplace
Volition has announced an $11 million seed round led by Newark Venture Partners.
Ugandan women entrepreneurs grow businesses with group saving accounts
For women and youth involved in fish trade at lakes Albert and Victoria in Uganda, having little to no savings is a thing of the past.
STIHL EA to invest Sh100 million to boost local manufacturing
Power tools manufacturer STIHL East Africa has announced it will invest Sh100 million in local accessories manufacturing every year as it seeks to localise its product development in the region.
Mitsubishi Electric’s Innovation Fund invests in Israeli cybersecurity startup SCADAfence
SCADAfence provides visibility to networks that support industrial systems and critical infrastructure, in an age where various types of malware, are threatening industrial systems and critical infrastructure, frequently shutting down their control systems and causing serious incidents.
GRASP fellowship invests in African women researchers
The Kenyan women, and others selected for the GRASP Fellowship, are set to participate in a series of interventions, including leadership and mentoring training, designed to enable them to become more effective policy practitioners
Chinese electric truck startup DeepWay raises $117m Series A+ round to accelerate mass production of smart electric heavy-duty truck
DeepWay, a smart commercial vehicle developer and manufacturer, announced it had raised $117 million Series A+ financing.
Insurtech startup Turaco and Airtel Money launch low-cost hospital cash insurance product in Uganda
Kenyan and Ugandan insurtech startup Turaco, has partnered with Airtel Mobile and Prudential Assurance to launch a low-cost hospital cash insurance product with Funeral Benefit.
Al-Abdullah Group invests $50m in Indian EV startup Kabira Mobility to accelerate growth
Kabira Mobility, a prominent electric bike manufacturer in India renowned for its KM3000 and KM4000 models, announced it has secured a $50 million investment from its strategic investor, Al-Abdulla Group (Qatar).
[Interview] Chris Okoro, CEO, Eunisell Interlinked, Nigeria
Chris Okoro is an entrepreneur and business strategist skilled in the Financial Services and Engineering sector. He's currently the Managing Director and CEO of Eunisell Interlinked, Nigeria.
[Column] Mark Wilson: The ERP and technology trends that will shape 2023
Following a year of disruption caused by Russia’s invasion of Ukraine, supply chain disruptions and record-breaking inflation, we look to the year ahead and what 2023 might have in store for manufacturers and distributors.
IDTechEx explores nine startups innovating polymer additive manufacturing
Essential to understanding the evolution of the polymer 3D printing industry is exploring the change from low-cost printing technologies and materials to the slow growth and adoption of innovative polymer printing technologies.
Metal 3D printing startup Fabric8Labs closes $50m Series B financing for electrochemical additive manufacturing technology
Fabric8Labs, pioneer of electrochemical additive manufacturing, announced the close of a $50 million Series B investment round led by New Enterprise Associates (NEA).
Israeli startup aiOla raises $25m to interface natural language to AI solutions in traditional manufacturing
Israeli startup aiOla announced it has secured $25 million in funding led by New Era with the participation of Hamilton Lane and other investors.
Former CEO of BMW Manufacturing Knudt Flor joins South Carolina startup Delta Bravo
Retired BMW Manufacturing CEO Knudt Flor has been appointed to the newly created advisory board at predictive analytics company Delta Bravo Artificial Intelligence (Delta Bravo AI).
Nigerian agritech startup Releaf secures $3.3m pre-Series A funding, unveils new technologies to drive profitability for consumer goods manufacturers
Releaf, a Nigerian agritech startup, has raised $3.3 million in an oversubscribed pre-Series A funding round.
Plesion Capital invests $500,000 funding in Ugandan fintech platform Xeno
Plesion Capital announced its formation as a social impact venture capital firm focused on partnering with mission-based entrepreneurs and companies to combat poverty around the world.
Season Group acquires IoT tech startup Pycom to give all connected ideas an opportunity to succeed
Season Group, an international electronics design and manufacturing services provider headquartered in Hong Kong, announced its acquisition of all assets of Pycom, a full stack Internet of Things (IoT) company.
Rosotics raises $750,000 pre-seed round for novel approach to heavy industry 3D printing
Rosotics, innovators in additive manufacturing, announced $750,000 in pre-seed funding led by Draper Associates.
Austrian deep-tech startup Sarcura closes €7m to develop next-generation cell therapy manufacturing platform
Austrian deep-tech startup Sarcura announced the closing of an oversubscribed €7 million Seed Plus funding round to develop a next-generation cell therapy manufacturing platform.
[Forum] Promoting investment flows from South Korea to Vietnam
South Korea has been, is, and will be the leading investor in Vietnam. The two parties can cooperate to achieve "Dual Goals" of US$100 billion in bilateral trade and total investment in the near future.
Kenyan fintech startup Tanda announces agency banking entry in Uganda, Rwanda, Tanzania
Kenyan fintech startup Tanda announced plans for agency banking entry in Uganda, Rwanda, Tanzania to accelerate growth within the East African markets.
Japanese startup SUN METALON raises $5.6m funding to democratize metal 3D manufacturing
SUN METALON, a Japanese startup developing a metal 3D printer, announced the procurement of $5.6 million in its pre-series A funding round.
Ugandan agritech startup Inputi receives investment to boost inputs distribution
Ugandan agritech startup Inputi announced it received an investment funding to boost inputs distribution across the country.
Ugandan fintech startup Tugende raises $10m pre-Series B funding to increase portfolio growth
Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding from existing shareholders led by Partech and two new investors, including Women’s World Banking.
Kenyan startup Kyosk Digital expands to Uganda
Kyosk Digital Services aims to address some of the challenges that vendors of fast-moving consumer goods (FMCGs) go through in sourcing products and restocking their outlets.
Uganda’s digital lending startup Numida raises $12.3 million funding to grow offerings
Uganda's Digital Lender Numida has secured a $12.3 million pre-Series A round of equity and debt funding to help it expand its team and move into new markets.
German manufacturer The Stihl Group enters Kenyan market
The subsidiary dubbed Stihl East Africa will be its Eastern Africa hub servicing countries that include Kenya, Uganda, Tanzania, DRC, Rwanda, and Burundi among others.
Kenyan mobile commerce startup Copia unveils manufacturing unit for sugar and rice production
Copia Global, a Kenyan-based mobile commerce platform has unveiled a new manufacturing unit to enhance its output of affordable sugar and rice to the Kenyan market.
London-based startup Geomiq raises $8.5m to digitize manufacturing and deliver industry leading service levels
London-based startup Geomiq announced it has raised $8.5 million funding to digitize global manufacturing and deliver industry leading service levels for Engineers and Procurement teams.
Virginia-based fashion tech startup Circ raises $30m funding to expand recycle clothing, eliminate waste
The circular fashion company Circ announced over $30 million in Series B funding backed by some of the largest international apparel companies and venture capital firms.
Simplifyber secures $3.5m seed investment to reinvent how clothing is made with sustainable, advanced Manufacturing
Simplifyber, the creator of the world's first fully-molded garment and shoe uppers made directly from a cellulose-based liquid, announced the closing of a $3.5 million round of seed funding.
Uganda entrepreneurs bet on fish project to boost incomes
To help communities reduce their post-harvest losses and access a more reliable supply of processed fish products.
Ugandan fintech platform Tugende closes pre-Series B investment round to accelerate growth
Tugende, the East African fintech platform providing asset financing and digital services to small businesses, announced it has raised a pre-Series B investment round led by current shareholder Partech Africa.
Ugandan fintech startup Eversend rebrands, announces new features
Eversend, a Ugandan fintech startup providing cross-border money transfers for Africans and Africans in the diaspora has rebranded, to reinforce its commitment to users with an all-inclusive payment platform and a modified look to support this transition.
TDK Ventures joins forces with VueReal to accelerate microprinting for microLED
TDK Corporation announced that subsidiary TDK Ventures, has invested in microLED developer VueReal Inc. to accelerate and develop their microprinting manufacturing process.
Uganda is the happiest country in East Africa, Happiness Index
Uganda topped the position as the happiest country in the East African Region while Tanzania dropped further to position 139 compared to position 94 the previous year.
Canadian tech startup Calico secures $2.1m to revolutionize modern supply chains
Calico, the developer of the first AI-powered smart supply chain management platform, announced it has raised $2 million in seed funding. The growth financing is led by Serena Ventures following 300% growth since January 2022.
Manufacturing technology startup OPT Industries raises $15m to address demand for novel materials design and production
OPT Industries, the manufacturing technology startup behind the InstaSwab high-efficacy medical applicator, announced it has raised $15 million in Series A financing.
London-based Bramble Energy closes £35m to fund its hydrogen fuel cell technology
London-based fuel cell company Bramble Energy has closed a £35 million investment round to help further expand its game changing capabilities in solving key challenges in the production and implementation of hydrogen fuel cell stacks.
Bank of Uganda grants Yo-Uganda Limited Payment System Operator License
Among the provisions of the National Payment Systems Act, 2020 is a requirement for all payment system operators to apply for and qualify for licensing after having satisfied a meticulous process applied by the Central Bank.
Wellington-based metal casting startup Foundry Lab emerges from stealth, raises $8m Series A round
Digital metal casting startup Foundry Lab emerged from stealth, announcing a $8 million Series A raise led by Blackbird and showcasing its ability to create functional metal parts in less than a day.
Toronto-based mobility startup Treepz expands to East Africa, acquires Uganda's Ugabus
In a bid to digitize the public transportation system and provide safer, reliable and comfortable commute options across Africa, Toronto-based shared mobility company Treepz, announced its acquisition of a similar Ugandan bus company Ugabus.
afriQloud and whitesky.cloud have put the foundation in place for a federated EMEA cloud infrastructure
In partnership with the European company whitesky.cloud, afriQloud has designed a completely new architecture for affordable and local cloud services.
P&G Ventures invites entries for its next Innovation Challenge
P&G Ventures, the early-stage startup studio within Procter & Gamble, announced the call for entries for its next Innovation Challenge.
JICA kicks off 2nd Cohort of its NINJA Accelerator in Kenya
The NINJA Accelerator in Kenya, powered by Japan International Cooperation Agency (JICA) in partnership with Double Feather Partners, Deloitte Tohmatsu and Kenyan implementation partner GrowthAfrica, is kicking off its 2nd cohort with five tech-enabled Kenyan startups.
Berlin-based startup Made of Air raises €5m seed round to make thermoplastics for Audi, H&M Group and other companies
Made of Air, the carbon negative materials startup that turns wood waste into thermoplastics, announced a €5 million in seed funding, led by Norwegian sustainability-focused family fund.
Ugandan fintech startup Fin-e Innovations raises $300,000 to bridge funding gap of African energy SMEs
Fin-e Innovations, a fintech start-up based in Uganda, has closed pre-seed funding of $300,000 from an undisclosed party in the United States.
TDK Ventures invests in seed round for dry lithium-ion electrode manufacturing startup, AM Batteries
TDK Corporation announced that subsidiary TDK Ventures has invested in AM Batteries (AMB) to support the commercialization of its dry electrode coating technology that improves the manufacturing of lithium-ion batteries.
Workwear startup BRUNT raises $8.4m Series A funding to accelerate growth
BRUNT Workwear, a modern work boot and apparel brand designed for today's construction workers and tradespeople, closed an $8.4 million Series A round to accelerate its growth and meet demand as the company disrupts a $12 billion-dollar category in the US.
Ghanaian startup Plendify launches B2B e-Commerce marketplace
Ghanaian startup Plendify has launched a B2B e-Commerce marketplace to connect customers with small and large African wholesalers, manufacturers, exporters, and importers.
Tech executive Mark Bregman launches Quidnet Ventures, a venture capital fund based in New Zealand
Mark Bregman, a successful tech executive and entrepreneur, has launched Quidnet Ventures, a venture capital fund based in New Zealand and operated out of New Zealand, San Francisco and New York City.
Lithium-ion battery recycling and manufacturing startup Battery Resourcers appoints Kelly Kay to its Board of Directors
Battery Resourcers, a vertically integrated lithium-ion battery recycling and manufacturing startup announced the appointment of Kelly Kay to its Board of Directors.
TDK Ventures backs metal additive manufacturing startup, Fabric8Labs
TDK Corporation announced that subsidiary TDK Ventures Inc. will back Fabric8Labs, marking its second investment in the additive manufacturing space and first in metal printing.
Tech startup COSMO Technologies secures funding, announces new product launch
COSMO Technologies, a first-of-its-kind family technology design and manufacturing company, announced the closing of its Pre-Seed funding round.
Cirona Labs startup raises $1.5m in oversubscribed seed round for expansion
Cirona Labs, a premier innovator in cannabinoids and other functional botanical ingredient manufacturing, announced that it closed an oversubscribed $1.5 million seed round led by LiDestri Food & Drink, BevSource, and Sweetener Supply.
Manufacturing AI startup ExLattice joins NVIDIA Inception
ExLattice announced it has joined NVIDIA Inception, a program designed to nurture startups revolutionizing industries with advancements in AI and data sciences.
Chinese AI robotics startup Mech-Mind completes Series C funding
Chinese AI industrial robotics startup, Mech-Mind Robotics (Mech-Mind), completed Series C funding led by tech giant Meituan, bringing Mech-Mind's total funding to over $100 million, making Mech-Mind one of the world's most funded AI+ industrial robotics startups.
University of Michigan's Desai Accelerator invests in four startups to launch 2021 cohort
The Desai Accelerator, a University of Michigan accelerator open to early-stage alumni startups, announced the four companies accepted into its 2021 cohort.
Legatum Center launches inaugural Legatum Foundry Fellowship for entrepreneurs in Africa
At an inflection point in their entrepreneurial journeys, Fellows will learn from MIT faculty, connect with investors, and expand their network of peer innovators.
[Startup Interview] Marvin Akankwasa, CEO, Social Lend Africa, Uganda
Social Lend Africa is a Uganda-based financial technology company that facilitates transactions between micro-lenders and small business owners on its web and mobile app
Insurtech startup OKO raises $1.2m to bring innovative insurance to smallholder farmers across Africa
OKO, an insurtech startup that provides inclusive agricultural insurance to secure farmers’ income across Africa, closed a seed investment round of $1.2 million, led by Newfund and ResiliAnce.
Kenya paint manufacturer Crown Paints announces COVID-19 safety net initiative
A recent study on how Covid-19 had caused an economic toll in nine countries, including Kenya, shows that 45 percent of people were forced to miss or reduce meals.
Phantom Space Corporation startup raises $5m seed funding to revolutionize space transportation
Phantom Space Corporation, a space transportation technology development and manufacturing company, announced the raise of $5 million in seed investment funding to make space commerce commonplace and to lower the barriers to space access.
Lithium-ion battery recycling and manufacturing startup Battery Resourcers raises $20m Series B funding
Battery Resourcers, a vertically integrated lithium-ion battery recycling and manufacturing company, completed a $20 million Series B equity round.
Verdant Capital raises $9.9 million financing for East African tech enabled MSME lender Tugende
Pan African specialist investment financial institution Verdant Capital has raised $9.9 million Series A equity capital for Tugende, a technology enabled MSME lender in East Africa.
Insurtech startup Curacel secures $450K pre-seed funding to drive insurance inclusion in Africa
Curacel, an AI-powered platform for claims processing and fraud management in Africa, raised a $450,000 pre-seed funding in a round led by Atlantica Ventures and Consonance.
Digital marketing startup Rollick secures $8.5m in funding
Rollick Inc., which operates the GoRollick Powersports, RV, and Boat Buying Program Marketplace, announced the closing of $8.5 million in funding.
Chevron invests in carbon capture and utilization startup Blue Planet
Chevron Corporation announced a Series C investment in San Jose-based Blue Planet Systems Corporation (Blue Planet), a startup that manufactures and develops carbonate aggregates and carbon capture technology.
[Startup Interview] Prof.Yakubu Makeri, Founder, ICYDT, Uganda
International Center for Youth Development on Technopreneurship, ICYDT, is a Uganda startup working on skills development and reduction of poverty among the youth using information technology. The institution’s founder Prof. Yakubu Makeri explains the startup’s business model and plans to launch an online university.
New manufacturing startup JTEC Energy announces the close of its initial seed round
New manufacturing startup JTEC Energy announced it closed on an initial seed fundraising round, to hire additional scientists and engineers in order to accelerate the development of the the company.
Dutch tech startup Avy completes successful test flight with first solar fixed-wing drone
Dutch solar drone manufacturer Avy announced a successful test flight of its first solar fixed-wing drone, equipped with custom solar foil developed by Wattlab to reflect and absorb more sunlight.
IRI acquires supply chain analytics provider, RSi
IRI, a global company in innovative solutions and services for consumer, CPG, retail and media companies, has acquired Retail Solutions, Inc. (RSi), a provider of supply chain solutions for CPG manufacturers and retailers.
Seegrid acquires Box Robotics to boost deep learning in manufacturing space
Seegrid Corporation has acquired Box Robotics, a mobile robotics startup bringing high-definition maps, three-dimensional LiDAR, and deep learning to the warehouse and manufacturing space.
Legendary Ventures invests in Elon Musk's SpaceX
Legendary Ventures announced an investment in Space Exploration Technologies Corp. (SpaceX) through its Series N funding round.
South Korean healthcare startup WellsCare signs in-store contract with b8ta for IASO
WellsCare, a member company of the Born2Global Centre, signed a store contract with b8ta, a famous American flagship store that is dedicated to innovative products.
IME Medical Electrospinning secures €3m financing from Dutch VCs to expand its Medispin XL production platform
IME Medical Electrospinning, a global leader in electrospun medical devices and regenerative medicine, announced it has successfully raised €3 million in equity financing and debt.
Smart consumer technology startup Dreame raises $14.6m in Series B+ funding
Dreame Technology (Dreame), a smart consumer technology company specializing in cordless vacuum cleaners, robot vacuum cleaners and mops, announced it raised $14.6 million in its Series B+ funding led by IDG Capital.
Tech startup MITO Material Solutions announces oversubscribed $1m Series Seed funding round
MITO Material Solutions, a cutting edge developer of additives that enable polymer manufacturers to enhance product performance, announced an oversubscribed $1 million Series Seed funding round.
[Startup Interview] Mangaldas Gupta, CEO, Magma Ash Tech, India
Magma Ash Tech is an Indian startup involved in the procurement, processing and export of Flyas, one of the residues produced during combustion of coal. Fly ash is used mainly as a bonding agent mainly in cement plants, ready mix concrete units, manufacture of blocks, bricks and boards.
[Startup Interview] Kaxton Kabogoza, Founder, Kenda Interlocking Bricks, Kenya
Kenda Interlocking Bricks is a Kenya start up in the manufacturing sector that is championing the use of eco-friendly and affordable construction materials as it seeks to bridge the housing deficit in Kenya and the East African region. Engineer Kaxton Kabogoza the founder explains.
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.
[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.
Luxembourg startup Wizata secures €2.7 million financing to digitize manufacturing with AI
Wizata, the Industry 4.0 Artificial Intelligence (AI) startup from Luxembourg, has raised €2.7 million from the original founders.
[Startup Interview] Julius Masaba, Co-Founder, Ablestate, Uganda
Ablestate, a Ugandan startup works with businesses to point them to the right software developers while offering digital training to institutions of higher learning. In the process the startup is addresings youth unemployment in the East African nation.
[Startup Interview] Gyaviira Tumushabe, Co-Founder, Firm Tours and Safaris, Uganda
Gyaviira Tumushabe is a co-founder of Firm Tours and Safaris, a tourism startup based in Uganda. It offers services include wildlife safaris, mountain gorilla tracking, city tours, organized group tours, school tours cultural and religious tours, all arranged and operated within the bounds of Uganda.
[Startup Interview] Ancel Bwire, CEO, Ancywax, Uganda
Ancywax is a research, media and marketing startup domiciled in Uganda’s capital Kampala that has since 2014 been offering clients a cocktail of services from idea to implementation through a model dubbed Concept Development. Ancel Bwire the CEO elaborates about the startup’s business model and plans moving forward.
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