Hey, Welcome to this week’s newsletter.
We had a very slow week last week regarding startup news and funding rounds. There were only two disclosed amount with SunCulture, a Kenyan Climate Tech startup that designs, manufactures, finances, and serviceIoT-enabled solar energy systems and irrigation equipment, raised $27.5 million in a Series B round. There were a few other rounds but most did not declare amounts raised. The only other startup that declared is Bena Care that got a $70,000 grant.
Is this the bottom? What will it take to get more funding into African startups? Share your thoughts with me.
Startup Funding Rounds
We had 5 total funding rounds with only 2 declaring the amount raised.
Bena Care, a Kenyan health-tech, received a $70,000 grant from FINCA International.
SunCulture, a Kenyan Climate Tech company raised $27.5 million from InfraCo Africa, Acumen Funds, Eric Schmidt and Reed Hastings.
Zuri, a startup offering a wide range of hair and beauty products, raised an undisclosed amount from Launch Africa.
qodek, a Tunisian Sales & Marketing Automation platform, raised an undisclosed amount in a Series B round.
Active Investors
This week saw a total of 8 investors who took part in the 4 funding rounds. These are InfraCo Africa, Acumen Funds, Eric Schmidt, Reed Hastings, FINCA International, Launch Africa and Injini.
Appointments
Sonali Patel Visram Appointed as New Chief Commercial Officer for Glovo in kenya.
Opportunities and jobs
Mastercard Foundation Fund Opens Applications for Agri-Focused Fund.
Applications and now open for the 2024 Huawei Seeds for the Future Kenya.
Applications are now open for the Visa Everywhere Initiative 2024.
Other Stories
Verod-Kepple Africa Ventures closes a $60 million fund.
Uber Launches Teen Accounts in South Africa.
Nigeria’s Remittance Startup Pesa Launches in India.
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