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  • Hardware technology incubator Savant looking at setting up venture fund

    Cape Town based hardware tech incubator Savant is considering setting up a venture fund which will likely be launched next year in the first quarter, says the incubator's CEO Nick Allen. Allen (pictured above) revealed the plans on the sidelines of the incubator's Demo Day on Tuesday (17 October). "We are, from a Savant perspective, looking at building our own venture fund, and we are getting some interest and traction and that," he said. He pointed to how there is a particular "real need and a real opportunity" to fund hardware tech ventures immediately after they receive technology development funding from the Department...

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    Geeks Online SA to launch soon

    Brand new education startup Geeks Online SA (GOSA) based in Cape Town, South Africa, looks to bring an innovative solution in the education space. It’s an idea inspired by the self-proclaimed “Geek” himself, one of the co-founders. The company has been founded by two chief enthusiasts, Anele Geqiwe and Busisiwe Ngxande. What they lack in years of experience, the pair has vision and passion for education. The concept driving GOSA is very simple: it requires strong relationship between high school students and tertiary institutions. We aim to introduce and prepare Grade 10-12 students to academic competency standards expected in tertiary level. Of course there are so many solutions...

  • Yellowwoods funding will gives us at least three years of runway – Simply founder

    The recent investment into insurtech Simply Financial Services by investment group Yellowwoods will give the startup "at least three years of runway" says the startup's CEO Anthony Miller. Cape Town based Simply Financial Services, which Miller (pictured above, right) along with Simon Nicholson (pictured above, left) and Shaun Dippnall founded in 2016, announced on Tuesday (16 October) that it had secured a "significant multi-year funding commitment" from Yellowwoods. Responding to Ventureburn questions yesterday (17 October), Miller would not disclose the size of the investment and the equity share that Yellowwoods will take. He however hinted that the deal is worth "tens of millions of...

  • Five agritech startups that aim to take Africa into greener pastures

    If Africa is to foster more efficient growth, agriculture technology (or agritech) is likely to have an increasing role to play. Already a number of startups across the continent are getting stuck in developing tech solutions to help boost the sector. The agriculture sector employs over two thirds of the work force and contributes over third of gross domestic product according to the World Bank, in a recent report (opens as a PDF). Here then are five agritech startups which already show some promise: AgroCenta Ghanaian agritech startup AgroCenta is an online sales platform started in 2015 by Michael Ocansey and Francis Obirikorang (pictured above). It connects smallholder farmers directly to an...

  • Nigerian rewards platform Thank U Cash secures funding from Ventures Platform

    Lagos-based venture capital (VC) firm Ventures Platform has invested an undisclosed amount in Nigerian rewards platform Thank U Cash. Ventures Platform founding partner Kola Aina announced the investment in a statement on blogging site Medium last Thursday (11 October). Aina said his firm saw the "huge but fragmented and largely unstructured" retail economy in African countries -- where small businesses do not have the resources or expertise to build robust loyalty programmes or data analytics -- as an opportunity. So far this year, Thank U Cash has secured funding from Nigerian VCs Ventures Platform and Microtraction Thank U Cash was founded earlier this year by CEO Madonna Ononobi, CTO...

  • Here are the 10 tech startups that will pitch at Seedstars Abidjan 2018

    Seedstars World, one of the largest startup competitions for emerging markets, has announced the 10 startups that will pitch at Seedstars Abidjan next Friday (26 October). The startup that comes out tops at the pitch event, which will take place at Seedspace Abidjan, will win an all-inclusive trip to attend the Seedstars Summit in Switzerland in April next year, where the startup stands to win up to $1-million in equity investment. In addition, the winning startup will also represent Ivory Coast at the Seedstars Africa Regional Summit which will take place in Dar es Salaam, Tanzania on 13 December. A total of 10 startups have been selected to pitch at Seedstars Abidjan next Friday The...

  • SA insurance platform Click2Sure secures investment from Greenlight Re

    Cape Town based digital insurance platform Click2Sure has secured an undisclosed investment from Greenlight Capital Re, a Cayman Islands based reinsurance company. In a statement today (17 October), Click2Sure said the investment was motivated by the startup's "unique cloud-based technology" and the experience of Click2Sure's founding partners serial entrepreneurs Daniel Guasco (pictured above) and Jacques van Niekerk. Commenting in the same statement, Van Niekerk said he was delighted by the investment as well as the endorsement of the startup's "unique full-stack, multiple digital platform capability and potential". Click2Sure was founded in 2016 by Daniel Guasco and Jacques Van Niekerk "This partnership has brought global recognition to a South African business and...

  • US-based Nigerian fintech Flutterwave closes $10m Series-A extension round

    US-based Nigerian fintech startup Flutterwave has closed a $10-million Series-A extension round bringing the total amount the startup has raised since its launch two years ago, to just over $20-million. In a statement on the company's website last Sunday (14 October), Flutterwave stated that the Series-A extension round included investments from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures and Raba Capital, among others. As part of the deal, Green Visor Capital chairman and general partner Joe Saunders will join Flutterwave's board of directors. Since its launch in 2016, Flutterwave has raised over $20-million Flutterwave provides digital payments infrastructure and services which enable global merchants,...

  • SA startup Doot! accepted into 500 Startups Kobe Accelerator

    Recently launched SA startup Doot! has been accepted into the 500 Startups Kobe Accelerator programme in Japan. Doot! was founded in July by co-CEOs Sbusiso Buna and Brandon Josi, CTO Louis van der Walt and Japan country manager Takayo Nakao and Steve McAdam. It launched its platform earlier this month, which aims to connect English-speaking travellers wishing to eat authentic meals with Japanese locals who want to have English conversations to improve their ability at speaking the language. Doot! was founded in July and recently launched its platform earlier this month Buna (pictured above) told Ventureburn last week Thursday (11 October) that the startup's team will be...

  • Entered the Ventureburn Tech Startup Survey yet? Here’s why you should

    In a bid to gain a better understanding of how SA's tech startup sector works, Ventureburn -- in partnership with Telkom Futuremakers and analytics company Qurio -- has launched the 2018 Ventureburn Tech Startup Survey. The data from the survey will inform a series of articles on Ventureburn -- which will cover the challenges facing South African tech entrepreneurs -- and will be distributed to wider media and associated tech conferences. Ventureburn will also hold an event surrounding the release of the data to the country. The Ventureburn Tech Startup Survey will prove crucial in providing data on the challenges faced by South African tech startups Last...

  • Angolan ride-sharing service Kubinga wins Seedstars Luanda

    Angolan P2P ride-sharing service Kubinga has been selected as the winner of this year's Seedstars Luanda pitch event. In all, 10 startups pitched at the event which was held in the Angolan capital last Friday (12 October). A panel of judges that included BFA Asset Management CEO Rui Oliveira, TGI president Alexander Thompson-Payan, Kianda Hub managing director Joel Epalanga, Unitel head of innovation Juelson Bartolomeu, Banco Millennium Atlantico board member Odyle Vieira Dias Cardoso and Seedstars World regional manager Claudia Makadristo selected the winners. Kubinga will now represent Angola at the Seedstars Africa and global summits Kubinga placed first ahead of elearning platform LV Digital, which came...