Although venture funding announcements are generally slowing down globally, we still recorded some funding activities in Africa this week.
If you missed it, here are the highlights:
Norebase raised $1 million pre-seed
Norebase, a Nigerian trade tech startup that allows founders and businesses to start and scale across several African countries, raised $1 million in a pre-seed round co-led by Samurai Incubate and Consonance Investment. Other investors that participated in the round include Sahil Lavingia of Gumroad, Kinfolk VC, Future Africa, Ventures Platform, Microtraction, Boleh Venture, Voltron Capital, Wuri Ventures and Afropeneur.
Hello Tractor raised $1 million
Hello Tractor, a Nigerian tractor booking platform that gives access to timely and affordable mechanisation service whenever you need it, raised $1 million in funding from Heifer International.
GoMetro raised a $1 million seed extension round
GoMetro, a South African mobile transit information app that offers train and bus travel and updates to improve the urban commuting experience, raised a $1 million seed extension round from Kalon Venture Partners, Hlayisani Capital, Tritech Global, 4Decades Capital, and E Squared Investments.
Kwaba raised a pre-seed funding round
Kwaba, a Nigerian fintech startup that allows customers to save, get instant loans and pay for their homes in convenient instalments, raised an undisclosed amount in pre-seed funding from Co-Creation Hub (CcHub) and other investors.
The Baobab Network invested $25K in five African startups
The Baobab Network, a Kenya-based accelerator, announced that it invested $25,000 in five new African startups. The startups that were part of their cohort include;
- Sidebrief, a Nigerian startup that helps founders, startups and hackers launch and scale ventures across markets.
- Lendha, a Nigerian startup that provides MSMEs in emerging markets with seamless access to Credit and financial solutions by leveraging AI.
- GoodTalent, a Nigerian talent marketplace for companies to crowdsource, screen, hire and pay engineering talents globally for full-time, remote, and contract roles.
- Opus Analytics, an Egyptian HR startup building human resources and people analytics software for SMEs and corporates in the MENA region.
- Mighty Finance, a Zambian lending platform for small and medium enterprises (SMEs)
Others
Rali_cap (formerly known as Rally Cap Ventures), a Global venture collective investing in early-stage emerging market fintech, launched a $30 million fintech fund.
HAVAIC, a South African venture capital firm that specialises in early-stage, high-growth African businesses, completed a final close of a $20 million fund for early-stage tech companies across Africa.
Masa Finance, a hybrid credit protocol and decentralised credit bureau, raised a $3.5 million pre-seed funding round. Investors that participated in the round include Unshackled Ventures, Lateral Capital, Decentranet Intersect VC, Peer VC, Alves Ventures, executives from GoldenTree Asset Management, Flori Ventures, and GSR, and other angel investors.
And it is a wrap!
