Startups

Here are the technology news, startup, and VC deals we tracked across the African region this week.

Weekly Roundup: African tech news and startup deals
Image: Eden Life

Here are the technology news, startup, and VC deals we tracked across the African region this week.

  • Smartphone sales in Nigeria grew 81% year-on-year in 2021, thanks to pent-up demand driven by digital adoption and the entry of new Chinese OEMs. Also, a snapshot of the country’s smartphone market as of 2021 shows how Transsion brands dominate the market.
  • Nigeria-based startup Norebase, which helps businesses and founders start, scale and operate in any African country, raised $1 million in a pre-seed round. The startup claims it can incorporate businesses within minutes in any African country.
  • Zuri Health, a mobile telemedicine platform that helps patients to access and book certified healthcare services on-demand based on the availability, location, and specialization of the provider in Africa, launched its new digital assistant Vera.
  • Eden Life, a Nigerian home concierge service platform expanded into Kenya with the acquisition of Lynk, a platform that connects informal workers to job opportunities.  Launched in 2015, Lynk has transferred $4.5 million to over 2,000 workers with 150,000 jobs facilitated.
  • Targeting to invest in South, East, and West Africa startups, Havaic raised $20 million in Universum Core African Fund. The newly raised funds will be invested in 25 early-stages companies in the next three years the advisory and investment company claims.
  • Five new African startups, Sidebrief (Nigeria), Lendha (Nigeria), GoodTalent (Nigeria), Opus Analytics (Eqypt), and Mighty Financed (Zambia) attracted a $25 thousand funding from Baobab Network based in Nairobi.
  • Uganda’s financial regulator warned financial service providers and fintech startups to desist from enabling cryptocurrency transactions, saying that it has not licensed any payment provider or operator to sell or facilitate trade using crypto.
  • Nigeria’s Tractor-lending platform, Hello Tractor raised $1 million in funding from Heifer International to provide loans for tractor purchases with a plan to repay from earned revenues on tractor leasing.
  • South African logistics company GoMetro raised $1 million in a seed extension round to facilitate its expansion and reach in the South African, UK, and American markets. The company plans to hire key talents and invest in engineering and product development after raising funds from Kalon Venture Partners, Hlayisani Capital, Tritech Global, 4Decades Capital, and E Squared Investments.
  • Nigerian fintech startup Kwaba secured an undisclosed amount in a pre-seed round of funding from the Co-Creation Hub to help it expand across the African continent. The startup helps low and middle-income earners to split their annual rent into convenient monthly installments.
  • Senegal-based B2B startup Kwely raised $1 million in seed funding from WIC Capital, LoftyInc Capital Management, Haskè Ventures, and other investors.
  • Egyptian fintech app Khazna obtained approval from the Central Bank of Egypt (CBE) to launch its Khazna Card in partnership with ADIB Egypt.

Source: African tech news and startup deals

Please Share