All things considered, March was a slow month for tech deals across Africa.
Roughly 30 equity fundraises were announced in the month, totaling ~$44M in disclosed funding, according to Afridigest’s weekly tracking.
Here’s a look at startups that announced fundraising rounds in the month.
- almentor, an Egyptian Arabic-language online video learning platform, raised a $10M pre-Series C led by e& capital, with participation from Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital.
- Powered by People, a Kenyan B2B wholesale e-commerce marketplace, raised an $8M Series A led by Altos Ventures, with participation from Golden Ventures and Susa Ventures.
- Ramp, a South African, British-headquartered analytics platform focused on revenue forecasting, raised a $5M seed round led by AlbionVC and Eurazeo, with participation from Triple Point Ventures. Nearly 80% of Ramp’s staff are based in Cape Town, including three of its four founders.
- Rwazi, a Mauritian/pan-African data collection & market intelligence platform, raised a $4M seed round led by Bonfire Ventures, with participation from Newfund Capital and Alumni Ventures.
- YMO (formerly YMoney), a Franco-Guinean digital payments platform, raised a ~$3.2M (€3M) seed round from Breega, INCO Ventures, and others.
- Payday, a Rwandan/Nigerian multi-currency, cross-border payments platform, raised a $3M seed round, raised a $3M seed round led by Moniepoint with participation from Ingressive Capital, Techstars, DFS Lab’s Stellar Africa Fund, Now Venture Partners, Angels Touch, HoaQ, and others.
- Credable, a Tanzanian, Dubai-headquartered provider of embedded finance infrastructure, raised a $2.5M seed round led by Ventures Platform, with participation from Launch Africa, MAGIC Fund, Acasia Ventures, AAIC Investment, Adaverse, and others.
- Palm, a Moroccan AI-powered HR data analytics platform, raised ~$2.2M (MAD 20M) from Kima Ventures, Station F, CDG Invest’s 212Founders program, and Bpifrance.
- Nuru, a Congolese cleantech platform that provides solar mini-grids, raised $1.5M in a bridge round to an upcoming Series B from Renewable Energy Performance Platform (REPP), Proparco, and E3 Capital.
- Konta, a Moroccan SaaS platform digitizing invoice management, raised ~$1.15M (MAD 12M) from Azur Innovation Fund.
- Fez Delivery, a Nigerian logistics platform, raised a $1M seed round led by Ventures Platform, with participation from Voltron Capital, Acasia Ventures, and others.
- Conservio, a South African, Dutch-founded marketplace to book nature-based travel, raised $500K led by Volve Capital.
- Maltento, a South African agtech that transforms organic food waste into sustainable insect proteins using black soldier fly larvae, raised $788K from DEG’s Up-Scaling program.
- HouseAfrica, a Nigerian digital property validation system & blockchain-based land registry, raised $400K from Future Africa, SSE Angel Network (SSEAN), ARM Labs, CV VC, Startupbootcamp Afritech, Niche Capital, Rebel Seed Capital and others.
- Releaf, a Nigerian agtech platform that develops proprietary technology for food processing, raised $250K from Plesion Capital.
- VotreChauffeur and VotreColis, Moroccan on-demand transport & delivery sister companies, jointly raised $240K (MAD 2.5 million) from Afrimobility, the venture investing arm of Akwa Group.
- InfiniteUp, makers of a financial super app starting in Nigeria/Kenya, raised $150K from SOSV’s Orbit Startups program.
- Ivory Pay, a Nigerian crypto payments gateway, raised $135K* from the CV Labs Accelerator.
- Nyayomat, a Kenyan e-commerce platform offering working capital financing solutions to merchants powered by smart contracts, raised $135K* from the CV Labs Accelerator.
- Web3 Sanctuary, a South African online training platform focused on coding for Web3, raised $135K* from the CV Labs Accelerator.
- Xolani Health, a Nigerian provider of AI-assisted tools for radiologists, raised $120K* from the Techstars Tel Aviv accelerator program.
- Cancer Mutual, a South African healthtech platform focused on cancer risk assessment, detection, and insurance, raised 120K* from the Techstars Future of Longevity accelerator program.
- Shape, a Tunisian upskilling & training edtech SaaS platform, raised $50K from Oman Technology Fund.
- Yellow, a South African pay-as-you-go asset-backed financing platform, raised an undisclosed amount from Energy Entrepreneurs Growth Fund (EEGF) in the first close of a Series B round.
- TIBU Health, a Kenyan digital health platform offering home-based health services, raised an undisclosed pre-Series A round led by Health54 (the health-focused corporate venture capital arm of CFAO Group), Boost VC, Founders Factory Africa, and others.
- Itot Africa, a Congolese edtech platform providing training & digital educational tools to corporates, SMEs, NGOs & entrepreneurs, raised an undisclosed amount from DRC Angels.
- Badili, a Kenyan used smartphone buy-back ‘re-commerce’ platform, raised an undisclosed amount from Renew Capital.
- Wazi, a Ugandan assistive tech prescription eyewear company, raised an undisclosed amount from Renew Capital.
- Rivuuz, a Zambian platform that connects customers to vetted builders, plumbers, electricians, and other construction workers, raised an undisclosed amount from Zambia Business Angels Network, Catalytic Africa, and others.
- Xente, a Ugandan business banking platform offering virtual bank accounts, physical and virtual corporate cards, and digital spend management solutions, raised an undisclosed amount from Renew Capital.
Remember, you can submit Africa Tech company fundraising details to Afridigest here.