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8 upcoming startups from Kenya

By Jenni Lansisyrja on December 4, 2014

Below we feature 8 top startups from Kenya, all fundraising on VC4Africa!

Click on the venture profiles below for more info, read the documentation and connect with the entrepreneurs. Only accredited investors who registered a VC4Africa Pro Account can access the company’s private documents, business plans, financial projections and all other details from the listed ventures’ VC4Africa profiles. (Login with an existing Pro Account here, or get more info.)

 Venture Funding 
ASiM is a Sales and stock management solution connecting warehouses, sales agents, customers & more. Read more on their VC4Africa venture profile.Funding required:
USD 250,000
 M-Changa is an automated online fundraising platform accepting both mobile money and credit card donations. Read more [...]

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DEMO Africa alumni ChopUp – Nigeria’s social gaming platform – secured USD 100K from investors

By Miguel Heilbron on November 30, 2014

Congratulations to the ChopUp team! We had a chance to catch up with Chopup co-founder Bayo Puddicombe (DEMO Africa alumnus & VC4Africa member) after the company closed their Series A investment round from a group of local and international angel investors. “Over the next five years, we want to be one of the top five mobile game development companies by revenue operating in Africa.”

“Africa my Africa, Africa of proud warriors in ancestral savannahs…” – starting their DEMO Africa 2013 pitch with the first lines from a famous poem by David Diop and unfolding their company’s success story convincingly and with humor, the ChopUp founders left a great impression on the DEMO Africa audience last year.

Before starting Chopup the co-founders Bayo Puddicombe & Zubair Abubakar [...]

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4 DEMO Africa 2014 alumni present at DEMO Fall in Silicon Valley

By Jenni Lansisyrja on November 27, 2014

Congratulations to the 4 startups who travelled to Silicon Valley and pitched at DEMO Fall last week during Global Entrepreneurship Week!

The selected four - Chura, Nerve, PaySail, and SpacePointe - were chosen among this year’s 40 DEMO Africa entrepreneurs and presented to an international audience evaluating their potential. See some photos below. Good luck to the new generation of DEMO Africa entrepreneurs next year, we hope these stories inspire more tech innovators in Africa and will keep you posted on updates! Investors with a VC4Africa Pro Account can get full access to details of these and other ventures on VC4Africa.

Byron Sitawa demonstrated DEMO Africa alumni Chura. See their VC4Africa venture profile to find out more!

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Tanzania’s green innovator Karibu Solar Power secures investments via VC4Africa!

By Miguel Heilbron on November 25, 2014

Congrats to the team of Karibu Solar Power! Last week we profiled one of the investors who found the company through VC4Africa and invested a “five digit sum”. This week we catch up with the company’s Executive Director Adam Camenzuli.

Inspired by this green success story? Applications for Africa’s Green Pioneer Accelerator close December 1st.

KARIBU Solar Power is based in Tanzania and makes lighting & electricity affordable by offering a solar pay-as-you-go “business in a box” kit to entrepreneurs. KARIBU’s business model allows consumers to enjoy the benefits of solar lighting, while paying in small increments, just like they would for kerosene. For more background see an earlier interview and for an update see below.

What was it like to be contacted by investors through the VC4Africa platform, and [...]

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Startup IroFit finds investment via VC4Africa & closes USD 600K seed round!

By Miguel Heilbron on November 11, 2014

Congrats to the IroFit team for finding investment via VC4Africa and today closing their USD 600K seed round!!

Nigerian-Finnish internet-free mobile payment startup IroFit has raised USD 600K in seed funding from a group of investors including leading Nordic early-stage VC firm Inventure, major Finnish payments industry software development company Solinor, and Nigeria based industry expert and angel investor Rasheed Olaoluwa.

“The angel investor from Nigeria, Rasheed Olaoluwa, found us through our VC4Africa venture profile, then reached out to us”, says Omoniyi Olawale, IroFit’s Founder and CEO. “He was the first investor we got in the group. So that says something about the impact VC4Africa is making.”

IroFit is one of the 40 startups that was selected to pitch their new products at DEMO Africa two months ago. Investor Rasheed Olaoluwa [...]

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WINNERS ANNOUNCED! – Orange African Social Venture Prize 2014 finalists prepare for investment on VC4Africa

By Miguel Heilbron on November 3, 2014


Version en français plus bas / See below for French.

UPDATE: WINNERS ANNOUNCED! 

Orange announced the three winners of the Orange African Social Venture Prize during the AfricaCom Awards ceremony held in Cape Town, November 12. Congratulations to the entrepreneurs!!

The first prize was awarded to Modisar, the Station Energy Ivoire project was awarded second prize, the third prize was awarded to the Senegalese company Bouquet Pass Santé. Finally, a “favourite project” was also selected by visitors of the Group’s web portal StarAfrica. Over 20,000 visitors voted for the Ivorian project “Pubcell”. And the special Orange Partner API prize was awarded to Mewanko Farm, a project that involves the creation of an online platform to enable the sale of agricultural products on both urban and international markets.

In addition [...]

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Ghana Angel Investor Network invests 110K USD in education tech startup Revo

By Miguel Heilbron on October 31, 2014

Congratulations to VC4Africa member Revo and the Ghana Angel Investor Network (GAIN)! They recently closed an investment deal of around 110K USD, GAIN’s first investment!

The Ghana Angel Investor Network (GAIN), a network of high net worth individuals, launched with only 6 founding members and today has an impressive network of 24 investors, with a keen interest in startups. The GAIN network is diverse with investors having interests in sectors such as technology, agriculture, education and healthcare.

GAIN was established by Ghana’s Venture Capital Trust Fund to bridge the funding gap for very early-stage companies. The Venture Capital Trust Fund (VCTF) recognized the need to provide a platform for established entrepreneurs to assist aspiring entrepreneurs with capital and mentorship.

Revo is a Ghana based technology [...]

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New USD 15-20k investment in Nigeria’s fuel station app E-Pump

By Miguel Heilbron on October 6, 2014

Congrats to entrepreneur Ayodeji Ogundiran, founder of VC4Africa registered company E-Pump, and their investors including VC4Africa member Michael Oluwagbemi, who just closed a new seed investment deal!

The seed investment round in E-Pump was announced by LoftyInc Allied Partners Limited, operator of the Wennovation Hub high-impact start-up acceleration program in Lagos, Nigeria. Michael Oluwagbemi, Executive Partner at LoftyInc, told VC4Africa “the invested sum is within the $15,000 to $25,000 bracket that we invest in early stage teams, with the option to invest up to four times the initial invested amount in a follow up round.” The investment was syndicated among a group of investors affiliated with the venture and product development firm based in Lagos.

At Wennovation Hub, LoftyInc provides “everything from management consulting [...]

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EXCLUSIVE: Africa’s payment venture SimplePay secures SeedStars World’s Best Startup prize money!

By Miguel Heilbron on September 15, 2014

While an Asian startup was announced as the winner of the Seedstars 2014 “Best startup in the world” competition, in the end an African startup secured the prize money! Congrats to VC4Africa member Simeon Ononobi, CEO of SimplePay! He shares his story below. 

Congratulations on the funding you secured! What did you win?

“SeedStars World’s first prize is up to 500,000 USD in seed investments from European investors, managed by SeedStars. Because we didn’t need up to that for seed funding we negotiated for just 300,000 Swizz Francs, around 330,000 USD.”

What happened exactly?

“After a grueling deliberation by the jury members at the SeedStars World finale, actually Flitto from South Korea was announced the winner – and we got second place. But then it became clear [...]

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DEMO Africa alumni company Fairwaves joins prestigious Techstars accelerator, shoots up ‘mobile network in a box’

By Miguel Heilbron on September 8, 2014

Today’s featured member of the VC4Africa community is entrepreneur Alexander Chemeris, CEO and Founder of the company Fairwaves, one of the great 40 startups launched at DEMO Africa last year.

Fairwaves’ innovation is making mobile communications affordable in rural and remote areas with a ‘network in a box’. They just raised new investments and got accepted at the prestigious Techstars accelerator in Boston, US!

Congratulations on the new milestones! What have you raised so far, and what are you still looking for?

“So far, we raised USD 240,000 from nine business angels in the previous round. We are currently raising another USD 400,000 as a bridge round. This includes taking USD100,000 from Techstars’ Star Power Fund and raising another USD 300,000 from angels on the [...]

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