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Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍
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📰 Important News
- Chowdeck hit 1,000+ daily orders in Ghana just 3 months post-launch, proving its cross-border model and boosting its delivery ambitions.
- Peach Payments teamed up with MoneyBadger to bring Bitcoin transactions to South African merchants.
- Algeria banned all crypto activities, taking a hard-line stance that threatens to stifle fintech innovation.
- MAX unveiled West Africa’s first solar-powered EV battery swap station, pushing clean, off-grid mobility for Africa’s gig workers.
- A Nigerian court blocked 54gene’s asset sale amid a founder-led lawsuit, raising governance concerns in Africa’s genomic startup space.
💸 Top Funding Rounds
- Sun King raised $156 million to bring solar power to 1.4 million Kenyan homes via PAYG, backed by local banks and global development partners.
- Payaza received SEC approval to raise $13.5 million via commercial paper, funding infrastructure to grow its pan-African fintech services.
- Altera Biosciences secured $1.6 million to develop gene-edited cell therapies in Africa, aiming for universal donor cells and wider treatment access.
- Mataa landed seed funding from Libyan angels to grow its mobile-first e-commerce platform and boost logistics for local merchants.
- Swyft secured pre-seed funding from Michigan’s IIF to digitize logistics in Cameroon, expanding delivery from urban hubs to rural areas.
💰️ Notable Exits
- Adapt IT acquired ResRequest to boost its hospitality software via Micros SA, targeting boutique lodges across 22 countries.
- Admyt purchased SHôPING to launch Mallpass, blending ticketless parking with digital retail services across South African malls.
🏦 About Investors
- HAVAÍC closed its $25 million African Innovation Fund 3 to back startups like SAPay and Sportable, blending capital with support for global scale.
🚀 Startup of the Week
Introducing our Startup of the Week 🏆
Andela
Founded in 2014 in Lagos and now headquartered in New York, Andela was launched by Jeremy Johnson, Iyinoluwa Aboyeji, Nadayar Enegesi, Brice Nkengsa, Ian Carnevale, and Christina Sass. The company connects over 150,000 pre-vetted engineers from 135 countries to global enterprises via its AI-powered Talent Cloud. By automating sourcing, vetting, and compliance, Andela cuts time-to-hire by up to 66% and slashes costs by up to $80,000 per hire. Backed by investors like SoftBank, GV, and the Chan Zuckerberg Initiative, Andela reached a $1.5 billion valuation after its $200 million Series E in 2021. Under CEO Carrol Chang, it continues to redefine global hiring at scale.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Oui Capital
Founded in 2019 and based in Lagos, Oui Capital is an early-stage VC firm led by Olu Oyinsan and Francesco Andreoli. It fully returned its $4 million Fund I, driven by a standout Moniepoint exit. Focused on high-conviction investments across fintech, healthtech, logistics, and more, the firm writes checks up to $750,000 and maintains a swift, five-week deal process. Backed by strong technical and financial expertise, Oui Capital has raised a $12 million Fund II to support around 30 startups. Through initiatives like OuiTalkTech and Startup Cup, it also fosters community, positioning itself as a key player in Africa’s evolving venture landscape.
🤑 Opportunity Radar
Call for Applications: Environmental Tech Lab 2025 Challenge Competition
Apply now for the Environmental Tech Lab Challenge competition 2025, a competitive program by the NYC Department of Environmental Protection (DEP) and the Partnership Fund for New York City. The challenge seeks beta-stage solutions from growth-stage startups and eligible nonprofits to tackle key environmental and infrastructure issues. Selected teams will pilot their tech in real-world DEP settings, gain access to DEP experts, and engage with public and private stakeholders. Solutions must store data in the U.S., meet NYC Cyber Command standards, and be registered in New York State. The application deadline is August 8. Apply now and don’t miss this chance to scale your innovation and improve services for millions.
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