On January 20th, this Kenyan e-commerce startup announced that it had raised $50 million in a Series C round that was led by Godwell Investors. The company has digitized the entire insurance value-chain end to end, including know your customer (KYC) and claims processing using its API. and Steve Moran. In early May,Hello Tractorsecured$1 millionto provide loans for tractor purchases in Nigeria. Grants could come from the government, international organizations or NGOs. With satellite imagery data of farms and AI, Apollo rates farmers creditworthiness. By the end of last year, Apollo had worked with 100,000 farmers, and it has plans to double the reach by the end of this year. Following a preselection process, entrepreneurs will have access to operational experts who will help them prepare a 6 to 12-month action plan for their development. Successful applicants stand the chance of winning grants as well as undertaking a mini MBA program. We believe talent and opportunities are uniformly distributed across the Continent and we support entrepreneurs across all sectors. The Egyptian startup raised an undisclosed seven-figure seed round in February. An early stage startup may also look for funding through bank loans, but angel investments are usually preferred. This Nigerian fintech startup needs no introduction. As of March 1, 110 startups have raised over $1 billion, which is more than half (52.3 per cent) of the 2021 total. Other investors that participated in the round are: Soma Capital, Ingressive Capital, Kinfolk, etc. In the same month, it received an additional $3.5 million in funding for its tractor financing project in Africa to speed up the pace of agricultural development on the continent. READ ALSO: MATHEMATICS COMPETITION IN NIGERIA 2022. Are you impressed, have any concerns, or think we can improve this article? 2022. Female-led startups have been blazing the trail in recent years. Data from Africa: the Big Deal shows that African startups raised more than $4.85 billion by the end of December, a 4.75 per cent increase over the same period last year. The above-listed programmes are trusted, reliable and world-recognized. Launched in 2019 by siblings Farah and Omar Emara,FreshSourceis a B2B agri-supply chain platform that leverages technology to change the way fresh goods are sourced and sold. You can view the Nigerian Bank of Industrys (BOI) loan application criteria here, or call them on +2347002255264 or this (234)-1- 2715070-71 to make more enquiries on the loan application process. Their digital marketplace now supports more than 75,000 farmers. Reports seen by Business Insider Africa said the pre-Series A round was led by Cauris Finance, Lateral Frontiers VC and GreenHouse Capital. Some stakeholders are already speculating of a possible funding crunch for African startups in the nearest future. Top 10 investors in African startups in 2022. Our blended entrepreneur-focused approach, backed by major corporate and institutional investors, is what helps us create prosperous partnership opportunities and paths to exit for the companies we support. All early-stage business innovators, start-ups, and social enterprises are invited to apply. With plans to improve its offering, hire more people, and expand to new markets, were keeping our eyes on this company in 2022. As always, many of them are concentrated in Nigeria, Kenya, South Africa and Egypt. On January 20th, this Kenyan e-commerce startup announced that it had raised $50 million in a Series C round that was led by Godwell 2. mPharma. The association focuses on strengthening hubs that contribute to the growth of the African innovation ecosystem and increase the percentage of successful startups. However, this was a fruitful time for some of the most innovative businesses in Africa, with several startups raking in millions of dollars from pre-seed and early-stage funding. Last year, Disrupt Africa revealed that 564 tech startups raised over $2 billion in 2021. WebJICA Business Funding for African Startups and Businesses Journalism and Media Innovation Reporting Grants in Africa KCDF Giving For Change Grants in Kenya LeadTech Grants for African Female Entrepreneur Loans and Grants for Small and Big Business MICF Business Grants in Malawi for Economic Resilience and Recovery It hopes to expand to all of Egypts governorates by the end of 2023. The Tony Elumelu Foundation (TEF) started in 2010 and it is a leading philanthropy empowering young African entrepreneurs across all 54 African countries. This Nigerian fintech startup needs no introduction. Consult the list below to see the local partner incubators and find out more about the available services (financing, mentoring, training, etc.). For example, Lami, founded in 2018, the startup secured $1.8 million in seed funding last year. Seed Funding for African startups 2022 The Tony Elumelu grant (TEF) and the Africa business heroes prize 2022 are the major seed funding programmes for startups in 2022. Thanks for your blog, nice to read. Cameroon, Chad, Democratic Republic of Congo, Cte d'Ivoire/ Ivory Coast, Benin, Burkina Faso, Gabon, Gambia, Ghana, Guinea, Liberia, Mali, Nigeria, Senegal, Sierra Leone, Togo, Niger, Dijbouti, Ethiopia, Kenya, Mauritius, Rwanda, Somalia, Somaliland, Tanzania, Uganda, Burundi, Malawi, Madagascar, South Africa, Zambia, Zimbabwe, Angola, Mozambique, Lesotho, Algeria, Egypt, Morocco, Sudan, Tunisia, Congo, Agence d'encadrement et de dveloppement des PME, Association Entrepreneurs & Dveloppement, Sngal, Cte d'Ivoire/ Ivory Coast, Madagascar, Burkina Faso, Niger, Cameroon, Ghana. Tobias Reiter and Alex Musyoka founded Viebeg in 2018 to help medical facilities better access and manage their health stock by directly connecting healthcare facilitators and manufacturers. Weve seen the company convert users to paying customers by offering them relevant services, and making this accessible in an easy, affordable, reliable and trustworthy way, said HAVAC Managing Partner Ian Lessem. Web65 M committed to supporting African start-ups by 2022, in partnership with local partners See and/or download documents Lynk transforms the informal sector in Kenya With Andela, the best developers are also trained in Africa Digital Africa seed fund pdf Fisea+english version Size: 2.68 MB Download Preview pdf Choose Africa Brochure Size: 1.60 MB Last year, the African agri-tech space received a total funding of $95,101,000, accounting for 4.4 per cent of total funding for African tech startups, a 58.5 per cent increase from $59,990,000 (8.6 per cent of total) in 2020. Employment of an experienced team with expertise in various fields. 5). With 15 million allocated by the French Development Agency (AFD), the fund relies on the expertise of six ecosystem operators to develop training programmes for incubators and seed stage financing for startups in 45 African countries. As of March 1, 110 startups have raised over $1 billion, which is more than half (52.3 per cent) of the 2021 total. Copia Global. , showing how the funding season favoured the agritech ecosystem better than what it accrued in 2020 and 2019. Required fields are marked *. Get $1,500 Seed Funding for Youth Business and Social Enterprises. This a Ghanaian fintech startup has sealed a seed funding round to the tune of $17 million. Akiba Digitals longer-term plans are ambitious and worth keeping an eye on. Techstars has been active in Africa since 2015 when it first invested in MAX, a mobility startup. South African startup Talk360s seed funding hits $7M after new backing. African startups are steadfastly gaining the traction they deserve and the funding to back it. How you can Increase your fanbase as an upcoming artist in Nigeria. If you are a hub, incubator or an entrepreneur seeking support and financing, you can directly contact our local partners. Since then, it has provided seed funding to over many more startups, including Quidax, and AltSchool. Across Africa, the TEF Programme beneficiaries are starting and growing trailblazing businesses that have created over 400,000 direct and indirect jobs. All early-stage business innovators, start-ups, and social enterprises are invited to apply. We are a team of former entrepreneurs and experienced investors providing hands-on support and access to international networks leveraging our 250,000 strong community. to provide loans for tractor purchases in Nigeria. Months after the initial close of its seed round, Talk360, a South African Voice over Internet Protocol (VoIP) startup, has raised an additional $3 million, bringing the total investment raised in the round to $7 million. Last year, the African agri-tech space received a total funding of $95,101,000, accounting for 4.4 per cent of total funding for African tech startups, a 58.5 per cent increase from $59,990,000 (8.6 per cent of total) in 2020. Career building and HR recruitment platform. The Government of Canada is a newcomer to the top ten investor list, having closed 20 deals in 2022. The startups Mergdata, a proprietary AI technology platform for supply chain intelligence, digitizes the farmers they serve and generates the data the agritech needs to predict the demand for farm supplies. And since then, it has been one of Africas most active startup investors. Unblock notifications in browser settings. Taking up space in the booming e-health sector, this Rwandan startup supplies Central and East Africa with high-quality medical equipment through its procurement platform. And even though the industry is still in its early days, it has made indelible progress. Many will also remember 2022 as the year of mass layoffs. It has processed the trading of 30 million kg of fruits and vegetables on its platform with buyers from 5 countries and 35 towns and cities in South Africa. 1. Context In May 2018, during the Vivatech Digital Rendez-vous, the French President, Emmanuel Macron, announced a French commitment of EUR 65m for African start-ups and the launch of the Digital Africa initiative. And even though fintech startups are among the top players, startups in other ecosystems have also attracted large sums. Applications for the 2022 Africa Business Heroes Prize are currently ongoing. Other participants included Capria Ventures, Ingressive Capital, Lateral Frontier, etc. AfricInnov and AfriLabs. This is another Kenyan company. Our mission is to bridge distance and connect lives by offering reliable, affordable and easy-to-use digital services, delivered in a localised manner to all communities, particularly emerging countries, so they can connect to the world, said Hiine. But Ventures Platform will likely beat this number this year because it recently closed a $46 million fund. Minly is an Egypt-based creator economy platform connecting celebrities and fans through personalised messages. Lately, there has been growing concerns over the noticeable slowdown in investor funding across the African startup ecosystem. They are all experts in supporting and financing digital technologies. My Pivot Journal: How Sam Adeniyis entrepreneurial drive led him into software engineering. Seedstars Africa Ventures firmly believes that to generate high returns, it is vital to maintain a long-term outlook where performance equates not only to financial returns but also extra-financial returns. READ: This entrepreneur observed a serious lending gap when he visited Uganda. From a small town in Kaduna state, Nigeria, with less than 500 smallholder farmers, Thrive Agric has grown to over 200,000 farmer base. Y Combinator, a US-based seed-stage accelerator, is a household name in Africas startup space. Log in or create an account to add articles to your saved articles list. Copia Global. More people are taking the risk to create startups of their own that solve fundamental problems in Africa. For more information on how to apply for the grant, visit USADFs website apply. There are now very high expectations for them to sustain or even surpass that trend in 2022. 5). An early stage startup may also look for funding through bank loans, but angel investments are usually preferred. We bring you daily editor picks from the best Business Insider news content so you can stay updated on the latest topics and conversations on the African market, leaders, careers and lifestyle. The firm also closed its third fund at $14.3 million last year, so it will likely close even more deals in 2023. The African tech ecosystem has shown impressive growth in the last decade, and many investors want to have a seed in this thriving ecosystem. Companies meeting the needs of an initial customer base and potential partners. The African Business Angel Network (ABAN) is a pan-African non-profit association. The company is on track to produce around 8,000 tonnes of fish this year and works with 15,000 market trading women who source from its 55 branches countrywide to supply to their consumers. Support, financing, co-working spaces, networking, etc. As you should know by now, African startups raised the highest amount ever recorded in 2021. This is another excellent grant for African entrepreneurs, explicitly designed for women entrepreneurs. SCHOLARSHIP TO STUDY ABROAD FOR NIGERIAN STUDENTS 2022, best health insurance for international students, How to get Canada student visa from Nigeria, Cheapest country to study for Nigerian students. As its name suggests, Seamless HR is a human resources management company based in Lagos, Nigeria. It has plans to use the funding to refine its technology and deliver more products and services to farmers. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. The company raised $20 million in a series A round that was led by Future Africa. This Nigerian fintech startup needs no introduction. Victory Farmswas founded in 2014 byJoseph Rehmannand Steve Moran. We bring you daily editor picks from the best Business Insider news content so you can stay updated on the latest topics and conversations on the African market, leaders, careers and lifestyle. Over the years, USADF has impacted lives and livelihoods in over 40 African countries. Webcommitted to support African digital start-ups by 2022 See and/or download documents The Digital Africa seed fund The start-up Keiwa develops an accounting application in Cte d'Ivoire pdf Digital Africa seed fund Size: 1.22 MB Download Preview pdf Supporting digital startups in Africa Size: 7.53 MB Download Preview Our support solutions USADF does development differently by utilising a community-led development approach and a pan-African network of local implementing partners to support African-designed and African-delivered solutions. These include Nigeria, Ghana, Rwanda, Zambia, Sierra Leone, Gambia, Kenya, Mozambique, South Africa, and Congo. CEO Tebogo Mokwena says this funding will help the company assess and possibly scale other African markets. This Nigerian fintech startup needs no introduction. Last year, Disrupt Africa revealed that 564 tech startups raised over $2 billion in 2021. WebSeedstars Africa Ventures is an early-stage venture capital fund investing in high-growth companies active across Sub-Saharan Africa. We do not claim to have identified every single agritech startup that got funding within the time in review, but the list contains significant funding that caught the attention of the media. The company raised a $10 million Series A round which was led by TLcom Capital. Last year,Disrupt Africa revealed that 564 tech startups raised over $2 billion in 2021. Thrive Agricwas founded in 2017 by Uka Eje and Ayodeji Arikawa. To this end, Africinnov has created a dynamic community of nearly 100 African innovative entrepreneurship support structures (AIES). StartupXs supports entrepreneurs through the early stages of business development. The Silicon Valley-based VC firm entered the African market in 2020 by opening an office in Johannesburg. By 2024, the startup has hopes for a global expansion plan. Local partners The management of the Digital Africa seed fund is delegated to AFD Groups local partners. Often, seed funding comes from angel investors, friends and family members, and the original company founders. Founders Factory Africa closed 18 deals in 2022, ranking it ninth among Africas top investors. Tied at the top spot with Launch Africa, Google is also making giant strides in African technology. And those startups have between them taken in a combined US$649,303,000, down from US$1,515,556,000 by April 1, 2022. Last years Q1 ended up accounting for around half the startups and half the total investment for the whole of 2022, so if the current trajectory holds then year-on-year funding looks set to decline by more than 50 per cent. Acting as a window, each partner offers a specific program and activates their own financial instruments to implement the fund locally. With plans to improve its offering, hire more people, and expand to new markets, were keeping our eyes on this company in 2022. Akiba Digitals longer-term plans are ambitious and worth keeping an eye on. WebIn our post, Startup Funding Stages, we define seed funding as: Seed funding is a startups earliest funding stage. Since 2015 the TEF Entrepreneurship Programme has funded African entrepreneurs with business ideas or existing businesses under 5 years with $5000 seed capital, mentorship, business management training, and more. They fund entrepreneurs helping them to grow their medium-sized enterprises. These grants are applicable to not just already existing business owners alone but individuals with innovative business ideas. By eliminating the middleman, Viebeg drives up savings. It is also engaged in agribusiness partnerships to support African farmers with access to high-quality fertilizer and seeds, education on climate-smart farming practices, and connections to international markets. The Lagos-based startup founded by Jude Dike and William Okafor in 2021 is a fundraising and venture portfolio management company. In the third quarter of 2022, funding declined by 55 per cent year-on-year. You can click here to apply. And last year, Y Combinator intensified its participation in Africa. Plug and Play rounds up the top ten investors ranking, tied with Founders Factory at 18 deals. This opportunity is only applicable to women entrepreneurs across the nine African countries where Access Bank operates. An early stage startup may also look for funding through bank loans, but angel investments are usually preferred. Its exciting to see that the record is on its way to being broken in 2022. Latest data shows major drop in African startup funding in Q1 2023, Here are the Top 5 most produced cash crops in Africa, Exclusive: Despite numerous macroeconomic challenges, it is possible to develop a working food system in Africa, Briter Bridges' founder Dario Giuliani says African startups are poised to raise more billions in 2022, 10 African startups that have set the pace with largest funding rounds in January 2022. During the program, there will be pitching sessions and the mini MBA training in collaboration with the International Finance Corporation. agritech startups are also a part of this growth despite the, associated with the space. Roddenberry Foundation Catalyst Fund for Youth 2022-23. Freshsource presently serves customers across 11 Egyptian cities. For the rest of this article, we shall be focusing on 12 African startups that have performed really well in terms of fundraising. Get $1,500 Seed Funding for Youth Business and Social Enterprises. Whereas in Q1 2022 they raised about $1.8 billion, according to data tracked by Business Insider Africa. Business Insider Africa reported that Zebu Investment Partners alongside the U.S. International Development Finance Corporation (amongst others) also participated. This support and financing mechanism covers 45 African countries. Applicants for this competition also get to have access to mentoring and training programs designed to help them improve their creativity. For context, African startups could barely raise $300 million in equity funding between April and May 2022. African Agritech funding for the first half of 2022 The African tech ecosystem has shown impressive growth in the last decade, and many investors want to have a seed in this thriving ecosystem. All early-stage business innovators, start-ups, and social enterprises are invited to apply. Novastar Ventures also participated in the round. Emmanuel Abara Benson is an experienced business reporter and editor with over five years work experience. 10 African startups that have set the pace with largest funding rounds in January 2022. Launched in 2019 by siblings Farah and Omar Emara. StartupXs supports entrepreneurs through the early stages of business development. In 2022, it was the seventh-most active investor in Africas startup ecosystem with 20 deals. Africas early stage tech startups - pre-seed and seed. The funds would facilitate the company's mission of providing loans to Africans. Six of the agritech companies on this list have raised $113.9 million, while the seventh is undisclosed. #3 Root Capital And as its name indicates, it specialises in internet service provision. CEO Tebogo Mokwena says this funding will help the company assess and possibly scale other African markets. The company raised $6.2 million in a Pre-series A round that was led by Investisseurs & Partenaires. Seed Funding for African startups 2022 The Tony Elumelu grant (TEF) and the Africa business heroes prize 2022 are the major seed funding programmes for startups in 2022. 10 African startups that have set the pace with largest funding rounds in January 2022. The program supports 10 to 15 African digital start-ups and gives them access to appropriate financing and expertise. Our presence spans across 25+ countries in Sub-Saharan Africa and can help you expand in neighboring countries, recruit talents or find local expertise. In addition, it implemented some changes like focusing on logistics aggregation instead of the freight-forwarding service. Applying to your countrys local BOI for a fund could be a great way to raise some seed funding for your small business. Webcommitted to support African digital start-ups by 2022 See and/or download documents The Digital Africa seed fund The start-up Keiwa develops an accounting application in Cte d'Ivoire pdf Digital Africa seed fund Size: 1.22 MB Download Preview pdf Supporting digital startups in Africa Size: 7.53 MB Download Preview Our support solutions Web65 M committed to supporting African start-ups by 2022, in partnership with local partners See and/or download documents Lynk transforms the informal sector in Kenya With Andela, the best developers are also trained in Africa Digital Africa seed fund pdf Fisea+english version Size: 2.68 MB Download Preview pdf Choose Africa Brochure Size: 1.60 MB Seed Funding for African startups 2022 The Tony Elumelu grant (TEF) and the Africa business heroes prize 2022 are the major seed funding programmes for startups in 2022. Making Sense of Blockchain Technology: An Inside Look Into Decentralized Payment Processing, Applications open for 3rd Egypts Entrepreneur Awards, Kenyas TIBU Health raises pre-Series A funding to accelerate its growth, Meet the husband and wife duo behind app that will revolutionise birdwatching in SA, Nigerian prop-tech startup HouseAfrica raises $400k funding round, Rwandas Payday secures $3m seed round to drive expansion, Flat6Labs launches $95m VC fund to expand impact in Africa. In the same month, it received an additional $3.5 million in funding for its tractor financing project in Africa to speed up the pace of agricultural development on the continent. The name is pretty self-explanatory: This is the seed that will (hopefully) grow the company. This is a laudable feat as there are still six months to the end of the year, and the potential is limitless. The agents onboard farmers to the Apollo platform while retailers use the startups checkout app to handle point of sale, inventory, source wholesale orders and access to trade credit. In an exciting move, the company also announced last year that it would be launching in Nigeria. Grants: Grant is an amount of money given to an individual or business for a specific project (startup). is a B2B agri-supply chain platform that leverages technology to change the way fresh goods are sourced and sold. Financial institution dedicated to boosting the contribution of the private sector to the sustainable #development goals. Through a tractor sharing application, the startup connects tractor owners and smallholder farmers that need tractors. Unblock notifications in browser settings. 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( startup ) the agritech companies on this list have raised $ 20 million in a a. To change the way fresh goods are sourced and sold six months the!