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Kenya's FarmDrive Receives Additional Investment Led By Existing Backer
FarmDrive (FD), a Kenyan startup set to unlock millions of dollars in loans for smallholder farmers in Kenya and sub-Saharan Africa, received a follow-on investment from EWB Canada last month, with participation from AK IMPACT INVESTORS, 1 to 4 Found...
Why Everyone Is Confused By "African Startups" Funding Figures
On January 14, 2019, we released our very first report - Digest Africa Index - which focuses on investment into Africa's early stage and technology companies for the year 2018. In that report, we pointed out that these companies were involved in 4...
In Brief: Partech Doubles Africa Fund To $143M, Opens Nairobi Office
Partech has doubled its Africa VC fund to $143 million and opened a Nairobi office to complement its Dakar practice. The Partech Africa Fund plans to make 20 to 25 investments across roughly 10 countries over the next several years, according to G...
In Brief: Qatar Investment Authority To Infuse $200 Million In Airtel Africa
Bharti Airtel Ltd. will raise $200 million, or Rs 1,400 crore, from Qatar Investment Authority to pare debt at its Africa unit as it plans to list the business in the continent. This is the second fund infusion by India’s No. 2 telecom operator ...
In Brief: Nigeria’s Mavin Records secures funding from Kupanda Holdings
Mavin Records, one of Nigeria’s best-known local record labels, has secured a multi-million dollar investment from Kupanda Holdings. Kupanda Holdings is a joint venture between pan-Africa investment company Kupanda Capital and TPG Growth. If the...
Egypt's street food vendor Zooba Eats raises $4M for US expansion
Zooba Eats, an Egyptian street food restaurant chain, recently raised a $4 million Series A from an undisclosed group of investors. Although the deal was announced on January 14, 2018, according to their SEC filings, it was concluded last year and th...
India & East Africa focused Shortlist closes $2M Series A
Shortlist, a staffing and recruitment startup focused on India and East Africa, has closed a $2 million Series A round led by Blue Haven Initiative. The round also saw participation from "Compass Venture Capital, existing investor Zephyr Acorn, and s...
Kalon Venture Partners leads $1.5M Series A for SA startup Flow
South African venture capital firm Kalon Venture Partners today announced that a lead investment of R10 million (~ $1,465,400) had been made in local proptech platform Flow, an app that rewards tenants for good behaviour. With Flow, the first app ...
Updated: Former U.S. VP Al Gore's firm leads Andela's $100M Series D
Andela, an Africa-focused outsourcing firm for software engineers, is raising a $100 million Series D led by Generation Investment Management according to a report by Bloomberg Businessweek. The round also saw participation from existing investors i...
Building a more sustainable and better Digest Africa for you
Hi all, I would like to thank you for being a part of Digest Africa. Some of you have been with us from the very start - on March 1, 2017, while others have joined us along the way. We started Digest Africa (as Startup Digest Africa) close to t...
Research Brief: Africa-focused fund managers raised $1.094B in 2018
Africa's early stage and certain technology companies face the often life-threatening impediment of inadequate access to seed and early-stage funding. Fortunately, a number of developments that took place last year indicate that the trend is changing...
AfDB approves $25M Investment in Fund for Renewable Energy Projects
The Board of Directors of the African Development Bank Group has approved an equity investment of up to US$ 25 million in ARCH Africa Renewable Power Fund (ARPF), a US$ 250 million private equity fund for renewable energy projects across Sub-Saharan ...
CDC backs TheBoardroom Africa with $2M in funding
In a partnership to bring increased diversity to companies and organisations across Africa, CDC Group, the UK’s development finance institution, has announced that it will support TheBoardroom Africa (“TBR Africa”) with funding of £1.6m (~$2,0...
Goodwell Investments injects $2M into Kenya-based Copia Global
Goodwell investments, an impact investment and advisory firm focused on financial inclusion and sustainable development, has made a $2 million investment into Kenya-based Copia Global. "Goodwell Investments has acquired a share in Copia," the firm w...
Here's why we are retracting the mPharma article
Hello everyone, I am writing to inform you that we are retracting the article titled "Ghana’s mPharma secures $9.7M of the $12M it sought for its Series B" that we published on January 15, 2019. The basis for the retraction is that there are some e...