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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
- Lagos State unveiled a $20 million Innovation Bill to fund startups, research, and hubs via an R&D&I fund, boosting Nigeria’s tech ecosystem.
- The Bank of Algeria issued its first PSP regulation mandating dinar-only wallets with tiered limits, escrow, and consumer safeguards.
- Roqqu partnered with SiBAN in Nigeria to drive blockchain adoption, boost asset credibility, and expand financial inclusion.
- YC alum Oluwatomi Ayorinde launched Timon, a travel-fintech with global cards for Africans abroad, solving banking and fraud issues.
- ITIDA’s Technology Innovation and Entrepreneurship Centre chose eight startups for the 47th Start IT incubation, offering funding and mentorship.
💸 Top Funding Rounds
- Hewatele secured $10.5 million to build East Africa’s first large-scale liquid oxygen facility, using air separation unit technology to solve medical oxygen shortages and strengthen healthcare.
🏦 About Investors
- Uncovered Fund and Monex Ventures launched a $20 million fund for early-stage African startups bridging innovation with Japanese corporates across fintech and mobility.
- Impact Fund Denmark partnered with the Danish Ministry of Foreign Affairs to initiate a $54.6 million Africa facility to boost investments and support sustainable development.
📋️ Curated Lists
As Morocco’s mobility and logistics sector enters a new growth phase, technology and sustainability are redefining how people and goods move across the country and Africa. Cathedis drives last-mile e-commerce logistics, CloudFret uses AI to bridge Europe and Africa, Colis.ma offers digital parcel shipping, and ENAKL tackles urban commuting with smart bus-sharing. Freterium modernizes supply chains, Logidoo expands cross-border B2B logistics, POGO advances electric mobility with Battery-as-a-Service, VelyVelo powers e-bike fleets, and Weego unifies public transport. Dive into the full article to explore how these ventures are reshaping mobility and driving Morocco’s leadership in Africa’s transport future.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
Moove
Founded in 2020 by serial entrepreneurs Ladi Delano and Jide Odunsi, Moove is redefining global mobility through fintech. The company pioneered a drive-to-own vehicle financing model for gig drivers while also managing fleets for ride-hailing platforms and autonomous operators such as Waymo. With operations across Africa, the Middle East, Europe, and Latin America, Moove has raised over $400 million, including a $100 million Series B in 2024 led by Uber and Mubadala. Its acquisition of Brazil-based Kovi in January 2025 marked a major expansion into Latin America, reinforcing Moove’s trajectory toward unicorn status and positioning it as one of the world’s fastest-growing mobility-fintech players.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Silverbacks Holdings
Founded in 2019 and headquartered in Mauritius, Silverbacks Holdings, led by Executive Chairman Ibrahim Sagna, backs high-growth African startups through a permanent capital model focused on USD revenues. With ~$2M tickets, it supports proven companies and offers LPs partial exits for liquidity. Its $10B+ portfolio includes Flutterwave, Wave, Moove, Sabi, Kuda, Shuttlers, and Reliance, with standout exits like Lemfi (29×) and Omniretail (5×). Guided by Sagna and a diverse leadership team, Silverbacks is expanding into media and entertainment, positioning itself as a cross-sector enabler of Africa’s next generation of enduring companies.
🤑Opportunity Radar
Call for Applications: NBA Africa Triple-Double Accelerator 2025
Applications are now open for the NBA Africa Triple-Double Accelerator 2025, a 10-week program supporting early-stage African startups in sports and the creative industries. Powered by NBA Africa with partners ALX Ventures and ServiceNow, the accelerator provides global mentorship, AI-first capacity building, business coaching, brand exposure, and access to investors and fans. The top five winners will each receive up to $50,000 in cash and value-in-kind benefits. Applications close on August 29, 2025, with the program running from October–December. If you’re building the next big innovation in sports or creativity, apply now.
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