Startupbootcamp (SBC) AfriTech participants have been able to secure 20 proof-of-concept, pilot and commercial agreements and collectively raise €600 000 in funding to date, the Cape Town based tech accelerator announced yesterday (8 November).
The announcement was made at a demo day held at Old Mutual’s head office in Cape Town which was attended by over 200 investors and corporate leaders.
During the event, which was held to conclude the accelerator’s second cohort, several of the startups that participated in the accelerator’s 13-week programme announced that they had either secured agreements or were in discussions with corporates, investors and government entities.
SBC AfriTech’s second cohort was comprised of: Akiba Digital, Pago, Brandbook, CredPal, Digitech Group, Inclusive Financial Technologies, Kudimoney Bank, Lüla, MPost, and Prospa.
SBC AfriTech’s second cohort has secured 20 proof-of-concepts, pilot and commercial agreements and raised a collective €600 000 in funding
Among the startups that concluded agreements were:
Commenting in a statement today (9 November), SBC Afritech co-founder and CIO Zachariah George praised the startups from this year’s cohort.
“This year’s startups proved how important it is to not just be successful, but to be significant, to build solutions above and beyond yourself and your community — to build a legacy,” he added.
SBC AfriTech yesterday also revealed that it plans to work with equity crowdfunding platform Uprise.Africa to link startups that have participated in the accelerator to potential investors on the platform.
Read more: All 10 startups chosen for SBC AfriTech 2018 market ready – accelerator head
Featured image: Startupbootcamp Afritech team with the accelerator’s 2018 cohort (Supplied)
Editor’s note (14 November 2018): SBC AfriTech CEO and co-founder Philip Kiracofe subsequently told Ventureburn in an email that the €600 000 the second cohort raised includes funding the startups raised during the course of the programme as well as the accelerator’s investment of €150 000.
Kiracofe added that a number of the startups that participated in the second cohort are currently actively raising funds and that SBC AfriTech will count funds raised within six months after the demo day as part of the accelerator’s impact.