Deal-Street Africa [September 13-17]: Healthtechs Take Funding Limelight
Here is a recap of last week’s notable deals on the African continent, Healthtechs startups led with 44% of last week’s total funding deals.
Egyptian Fintech Kashat Raises USD 1.75 Mn Bridge Round
Egypt-based fintech and microloan solutions provider Kashat raised USD 1.75 Mn in its latest funding. The Bridge round was led by the Pan-African fund Launch Africa and saw the participation of several key regional investors including previous investor, Cairo Angels. The startup plans to utilize its newly acquired funds to further support and develop its platform, as well as expand its operations.
Egyptian Startup Capiter Raises USD 33 Mn Series A Round
Capiter, an Egyptian B2B e-commerce startup that connects manufacturers, brands, wholesalers, and retailers on a single platform, raised a USD 33 Mn Series A funding round to support its rapid expansion into digital financial services and new markets. The round was led by fintech-focused venture firm Quona Capital and MSA, an independent and interdisciplinary investment company. The round also features Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures.
South African Healthtech Aviro Health Raises pre-Series A Round
Aviro Health, a CapeTown-based healthtech, secured an undisclosed amount of funding in a pre-series A round led by ASISA ESD Fund (managed by Edge Growth), Tuksnovation, and TIA. The funding will go towards expanding and improving the Aviro Pocket Clinic, a digital counseling service that is available through both public and private health providers.
Moroccan Startup DataPathology Raises USD 223 K To Improve Services
DataPathology, a digital pathology healthtech startup, raised 2 MDH (USD 223 K) to revolutionize the pathological diagnosis system and improve services supplied to practitioners and patients. This capital increase was carried out with the investment company Witamax, founded by Southbridge A&I and Axxam Family Office. The startup aspires to expand the network of laboratories in Morocco and Africa and to consolidate the network and logistics necessary to increase the volume of data to be integrated and processed within the platform.
Nigerian Healthtech 4gene Closes USD 25 Mn Series B Round
54gene, a Nigerian health tech startup improving African genomics research for better global health outcomes, raised USD 25 Mn in a Series B round. Cathay AfricInvest Innovation Fund led the round, with participation from Adjuvant Capital, KdT Ventures, Plexo Capital, Endeavor Capital, Ingressive Capital, and others. The funding will go into improving the startup’s capabilities in sequencing, target identification, and validation, and precision medicine clinical trials, allowing for medication discovery in Africa for both Africans and the global population. It will also allow the company to begin expanding across Africa.
Malawian Solar Energy Startup Yellow Secures USD 4 Mn Funding
Yellow, a Lilongwe-based startup that distributes solar home systems to enhance access to electricity in rural Malawi, received a USD 4 Mn loan from SunFunder, a fund manager focused on solar energy in Sub-Saharan Africa.
African Fintech Finclusion Group Raises USD 20 Mn Investment To Expand
Finclusion Group, an African FinTech platform, raised USD 20 Mn in an investment round led by Lendable, a prominent FinTech debt financing provider. The investment will help the company to expand its presence in East and South African markets.
Egyptian Healthtech Sotech Raises USD 1 Mn pre-Seed Round
Sotech, an Egypt-based healthtech, and IoT solutions startup raised USD 1 Mn in a pre-Seed funding round led by Innlife Investments and Al Raya Kuwaiti, a key corporate investor. The startup plans to utilize its newly acquired funds to scale to 500 venues and expand its market in Saudi Arabia. It also will use it to avoid, track, and contain infectious diseases.
Kenyan Fintech Startup Jumuisha Raises Seed Funding For Expansion
Jumuisha, a Kenyan fintech business that enables churches and NGOs to collect donations, issue payments, and manage events all in one place, acquired seed funding to help it expand. The undisclosed amount of capital came from SprintX Venture Studio. Owned by 3pm Ventures, Sprint will also provide Jumuisha with business strategy, marketing, and technology expertise to help it grow.
