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Early-stage African VC firm, Microtraction reports portfolio boom despite the weight of COVID-19

TechCrunch

Founded by Yele Badamosi in 2017, Microtraction arrived on the continent’s early-stage investment scene with all intent to be “the most accessible and preferred source of pre-seed funding for African tech entrepreneurs.” Half of its portfolio companies are backed by YC and other global accelerators.

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Norebase raises $1M to allow companies start, scale, and operate in any African country

TechCrunch

His experience from this activity, coupled with working as a technical adviser to the vice president’s office in Nigeria a couple of months back, led him to launch Norebase , a trade tech startup that has raised $1 million in a pre-seed round. It’s one of the few companies offering such services, including Firstbase.

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How African startups raised investments in 2020

TechCrunch

“When these companies evolve to go global, we still count them as African companies.” According to Partech, fintech represented 25% of total African funding raised last year, with agritech, logistics & mobility, off-grid tech, and healthtech sectors following behind. ” Briter Bridges has a similar methodology.

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Goldman Sachs spinoff Juven to back African high-growth companies with large checks

TechCrunch

Mauritius and U.K.-based Juven is one of the few investment firms targeting growth deals on the continent , including TLcom , Novastar and Partech Africa , that have written significant checks in tech companies in recent years. . Frebault adds that Juven may also consider non-tech companies that can solve such problems.

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Savannah Fund launches $25M fund to invest in African startups at seed and Series A

TechCrunch

This is the second fund for the nine-year-old Mauritius-headquartered investment firm. The managing partner says Savannah is big on startups that can scale across regions in Africa — Rwanda, Ethiopia, Uganda in East Africa; Ivory Coast and Ghana in West Africa; and globally.

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MFS Africa collects $100M to expand its digital payments gateway across the region

TechCrunch

However, it’s an opportunity too good to ignore: China-Africa bilateral trade is one of the fastest-growing corridors globally, with a value topping $192 billion in 2019. . It recently opened new offices in Abidjan, Kampala, Kinshasa, Nairobi and Lagos while moving its headquarters from Mauritius to London.

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EV conversion startup Opibus raises $7.5M to start bus and motorcycle mass production

TechCrunch

We are proud to be backed by globally recognized investors providing a balance between deep-tech and emerging market expertise. Countries like South Africa, Mauritius and Rwanda are already ahead of the game. The round is the company’s first major fundraise, having previously raised capital from angel investors.