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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.
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.
“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.
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.
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.
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.
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.
April 28, 2023 ChatGPT parent company OpenAI closes $300M share sale at $27B-29B valuation VC firms including Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global are picking up new shares, according to documents seen by TechCrunch. Such decisions must not be delegated to unelected tech leaders. FAQs: What is ChatGPT?
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