Today’s episode of Africa’s Weekly Funding Review is exciting. As always, we recorded some fundraising and acquisition announcements this week in the African tech & startup ecosystem.
If you missed it, here are the highlights:
- Homzmart raised $23 million in a pre-Series B funding round
- Lami raised $3.7 million in a seed extension round
- Beacon Power Services raised $2.7 million in a seed funding round
- Youverify extended its seed funding round to $2.5 million
Funding
Homzmart, an Egyptian end-to-end platform that sells home furniture, home decor, lighting, and home services, raised a $23 million pre-Series B round from STV, Impact46, Outliers Ventures, Rise Capital and NUWA Capital.
Lami, a Kenyan insurtech revolutionizing insurance for underwriters and businesses in Africa via a single platform, raised $3.7 million in a seed extension round led by Harlem Capital. Other investors participating in the round include Newtown Partners, Peter Bruce-Clark, Caribou Honig and Jay Weintraub and senior members from Exotix Advisory.
Beacon Power Services, a leading provider of data and grid management solutions for Africa’s power sector, raised $2.7 million in a seed funding round led by Seedstars Africa Ventures with participation from Persistent Energy, Kepple Africa Ventures, Factor[e] and Oridun Capital Management.
Youverify, a Nigerian startup that helps companies automate their decisions, onboard the right customers and fight fraud using data, extended its seed funding round to $2.5 million co-led by Orange Ventures and LoftyInc Capital. Other investors participating in the round include Octerra Capital, Plug & Play Venture, Syntax Ventures, HTTP Investors, Afer Group and Fronesyz Capital.
Skrmiish, a South African gaming startup that gives anyone, anywhere, the ability to make money on the blockchain by playing the games they love, secured a $2.5 million seed round from Launch Africa Ventures, the Blockchain Founders Fund, and Stellar.
Qurious Labs, an Egyptian web3-focused venture studio, raised funding from Openner.
The Oxford Seed Fund announced an investment in HealthDart.
Acquisitions
🤝 TymeBank to acquire fintech firm Retail Capital – TechCentral
👀 SWVL suspends $100 million acquisition of UK’s Zeelo – Wamda
Venture Capital
💰 Enygma Ventures Launches New Round Of Funding For Startups
💸 Zedcrest launches $10 million ’emergency fund’ for African startups | TechCrunch
That’s all for this week! Kindly share this with your friends.
Have a fantastic weekend!
