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One of the largest solar companies in Africa and Asia, Sun King , has raised $260 million in series D funding to deliver off-grid energy technologies to more people across the two continents. Part of the funding will be used to expand the business’ presence. Sun King has previously raised $170 million in equity and debt funding.
Millions of people in sub-Saharan Africa and emerging markets continue to live without access to electricity. Zola Electric , one such provider, is announcing today that it has closed $90 million in new funding to enter new markets and drive distributed renewable energy. “More than 2.2 billion people,” he said.
All these while increasing access and affordability to quality medication. The new funding, mPharma co-founder and CEO Gregory Rockson told TechCrunch, will be used to build the startup’s data infrastructure, triple its talent pool over the next three years and support expansion plans in its current and new markets.
Tiger Global leads $3M round in Zambia’s Union54 for its card-issuing API. And if anything were to happen, we would wake up and would not have access to our funds,” said Mlambo, who founded the company with his spouse and COO Alessandra Martini. Union54 hopes to create a homegrown alternative to Mastercard or Visa.
Microtraction , an early-stage venture capital firm based in Lagos, Nigeria, saw funding nearly quadruple for its portfolio. In a review of the year published last week, the firm noted that 21 companies in its portfolio have raised more than $33 million in funding. But it’s completely different in Africa.
He reads accessible ebooks from Benetech’s Bookshare library in braille format, and learns as quickly as his peers without disabilities. We competed against other participating organizations, racing against the clock to raise funds and secure matching funding from the Skoll Foundation.
“This is the largest batch we have ever funded and it’s about 50% international. Nigeria leads the way again with five startups, while Egypt has four, Morocco has two, and Kenya, Ghana, Zambia and South Africa each have one. Union54 (Zambia). Amenli (Egypt). Africa has the lowest insurance penetrations globally.
JUMO , a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised $120 million in a new round of funding led by Fidelity Management & Research Company. So far, JUMO has served loans worth over $3.5
The region happens to be one of the fastest-growing globally; nevertheless, over 200 million people in East Africa do not have access to a bank account or mobile money. Anglophone East Africa is home to over 400 million people, with half under 25. The average East African currency, for instance, is said to depreciate 20% per annum.
On Impact Rooms, startups also get access to a diverse range of services, including legal and marketing support, from the platform’s other partners. The Impact Rooms team is currently spread across the world with some of its experts in Kenya , Zambia, Ghana, South Africa, Puerto Rico, Australia, US, UK and Switzerland.
KlashaCheckout allows merchants outside Africa to collect payments from six countries on the continent — Nigeria, Zambia, Tanzania, Uganda, South Africa and Kenya — and get paid in G20 currencies like dollars, pounds or euros. Klasha has a suite of business- and consumer-facing products connected via one API.
Private equity fund AfricInvest FIVE co-led the Series C round with existing investors Goodwell Investments and LUN Partners Group. New investors CommerzVentures, Allan Gray Ventures, Endeavor Catalyst and Endeavor Harvest also joined the round , while ShoreCap III returned as an existing investor with other funds.
Today, the company is announcing that it has closed $9 million in seed funding to scale its operational presence, recruit talent and expand into new markets. based fund 88mph co-led the round with China-based MSA Capital, with participation from Zagadat Capital, Kepple Ventures and Vunani Capital. He also sits on the board of 88mph.
Many families also lack access to reliable and affordable electricity. The company also just closed on $14 million in funding to expand its business across Africa. It was at a time when a lot of development financiers were funding the nexus between agriculture and energy,” said Ibrahim.
In one development of that theme, today, Taptap Send — one of the startups building tools to manage these money transfers — is announcing $65 million in growth funding as it continues its mission to enable remittances specifically to the most overlooked countries.
Founded in 2013 by Rockson , Daniel Shoukimas and James Finucane , mPharma is one of the well-funded startups across Africa raising over $50 million since inception, this includes a Series C round of $17 million, led by UK’s development arm CDC Group, it received last year. We currently have five centers open.
One, aligning with Visa as a partner gives you a bunch of benefits, launching products faster, marketing support and product support; and two, in addition to the investment, Visa Fintech Fast Track enables you to access these incentives in a streamlined way,” CEO Ahmed Ismail told TechCrunch in an interview. Our product is live in Sudan.
Kenyan startup Wowzi has secured new funding to expand the reach of its platform, which turns social media users into brand influencers, to West and Southern Africa — as it taps the increasing usage of social sites across the continent driven by the proliferation of smartphones and a deepening internet penetration.
In January, the company had over 6,000 merchants using its platform across Namibia, South Africa and Zambia. According to the company, drivers who handle distribution for its 232 logistics partners and use the wallet for payments can access asset finance and, for merchants: stock financing. There are other working parts of Jwallet.
The financing was led by the Steele Foundation for Hope , a nonprofit organization that says it’s focused on finding and funding lasting solutions for some of “humanity’s hardest challenges.”. When this crisis hit Mozambique, it was battling infrastructural issues from electricity to accessing telecommunications and health centers.
Governments were slowly waking up to the emergency, creating organizations like the Global Fund, one of the largest global health partnerships on the planet, but companies were still fast asleep. In 2006, (RED) was launched by Bono and Bobby Shriver to drive private sector funding to the AIDS fight and generate much-needed awareness.
Access to capital has been growing over the past ten years, and international collaboration is increasing in order to build a stronger infrastructure to support impact investing. How can the sector find out about projects in need of funding? At the forefront of strategies is impact investing.
He ended up running for about 1,500 miles all the way to Zambia, arriving with nothing but the clothes on his back, about 90 pounds, and showing up at a refugee camp where he knew nobody. He showed so much leadership and promise that we ended up sponsoring him to a university through our FORGE education fund. He ran into Congo.
By the end of the one-year venture building program, the startups should have launched a product, onboarded, and had repeat customers, have a defined revenue model, and have raised or are in the process of closing seed funding. “We The venture studio is planning on building a fund that will target startups in the growth stage. “We
Health workers were able to use the dashboard in a very flexible way, and this kind of access to information is very powerful.”. The idea, with the funding from BMGF, was for PATH to work with local EOCs to integrate malaria response into their work. “To do this, having up-to-date data on these diseases or epidemics is essential.” .
Jambo , a Congo-based startup building Africa’s web3 user acquisition portal through “learn, play, earn” and democratizing access to crypto-based income-generation opportunities, has raised $7.5 million in seed funding. Nestcoin raises $6.45M pre-seed to accelerate crypto and web3 adoption in Africa and frontier markets.
Health workers were able to use the dashboard in a very flexible way, and this kind of access to information is very powerful.”. The idea, with the funding from BMGF, was for PATH to work with local EOCs to integrate malaria response into their work. “To do this, having up-to-date data on these diseases or epidemics is essential.” .
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