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All posts by Matthew Alexander

  • Bottles pops cork after R500 000 Shark Tank investment

    On-demand alcohol delivery app, Bottles has successfully pitched their business on Shark Tank SA and walked away with an investment of R500 000. Their investment comes at a 10% stake in their business after the co-founder of The Creative Council, Gil Oved found Bottles model to be a profitable investment. The alcohol delivery app allows users to choose from their favourite beers, spirits and wines to be delivered to their door within 60-minutes. "Attending Shark Tank SA has been an incredible experience for us, we prepared for days on end, watching every past episode of the show available online to make sure we...

  • Paystack closes $1.3-million seed investment

    Nigerian fintech startup Paystack, backed by Y-Combinator, has closed on US$1.3-million in Seed Funding. "Having painstakingly identified the many barriers that merchants on the continent have when it comes to online payments, we have built and refined a product for Africa that we hope will act as a catalyst for the continent's online economy, be it on-demand services, ecommerce, travel & hospitality, financial services or entertainment," said CEO of Paystack, Shola Akinlade in a press release to Ventureburn. Paystack aims to utilise their new-found investment to scale themselves successfully The seed investment comes from various investors, some of which include: Tencent Comcast Ventures Singularity investments ...

  • All sunshine for Mobisol after €14m in investments

    Solar power company, Mobisol has acquired large investments from the International Finance Corporation (IFC), as well as from the Dutch development bank. The IFC has invested €5.42-million in equity while the AEF and MASSIF Dutch government fund has invested €9.2-million. "Our partnership with IFC and FMO, alongside Investec Asset Management marks an important milestone in the growth history of Mobisol. We are excited by the value such a reputable list of global investors stand to bring to Mobisol. We can now concentrate on scaling and even better serving our customers," said founder and CEO of Mobisol, Thomas Gottschalk in a press release. According to...

  • Startup with an education focus? This contest might be for you

    The Jacobs Foundation's TRECC initiative, in partnership with Seedstars World, has launched a new competition to find innovative startups with education-focused ideas and services. The competition is focused on ideas and services for rural areas. Startups participating in the competition, called the TRECC Rural Distribution Contest, could win a prize of US$1000. "Rural distribution challenges often limit access to quality education for the communities that need it most, further exacerbating social inequalities," said the company in a press release to Ventureburn. "We want to better understand how education systems -- as well as education entrepreneurs -- can leverage existing distribution networks or create socially responsible...

  • Amavulandlela Fund launched for disabled entrepreneurs

    A new fund, dubbed the Amavulandlela Fund, has recently been announced, focusing on supporting entrepreneurs with disabilities. The Amavulandlela Fund will be made up of a R24-million loan funding component as well as a R6-million business support grant.  Aside from individual disabled entrepreneurs, the fund will also be made available to companies and cooperatives of which 26% of people with physical disabilities have a stake in the company. People with physical disabilities will also need to have managerial positions and adequately display that they are active and are recognised in their positions. The funding scheme, announced by Minister of Small Business Development (SBD) Lindiwe Zulu,...

  • Innoventures ends year on $1.6m high note

    SME developer and accelerator Innoventures has announced the launch of their US$1.6-million fund, named Innoventures Fund 1. Innoventures' CEO Hesham Wahby made the announcement alongside the launch of their workspace in Alexandria, dubbed IdeaSpace-Borg. The startup accelerator, in partnership with VC4A, has also awarded top startups during their Reactor competition where three startups from Africa won prizes up to €10 000. "The winning startups have our commitment towards providing them with investments either by networking with investors or directly from us," said acceleration programme manager at Innoventures, Nourhan Ghanem in a press release. Zerowaste Technologies, the winner of Innoventures Reactor, is an eco-friendly...

  • Ixesha invoicing system to take load off billing?

    Web-based timesheet and invoicing system, Ixesha aims to help freelancers and consultants take the load off when it comes to billing clients. Founder Sean Walsh acquired the intellectual property of Ixesha from a firm who wanted to upgrade their custom-built Microsoft Access system. Ixesha was entirely bootstrapped, with the developmental cost covered by the consulting firm for which it was developed for. "It was painful to use (the access system) and they wanted to move to something web-based, but after doing a good amount of research into what was currently available, they realised that the access system had a lot of...

  • Kasha comes out tops at Seedstars Rwanda

    Women's health startup, Kasha has won the Rwandan round of the Seedstars World competition and will go on to represent the nation in the finals. The final pitching competition will take place at the Seedstars Summit in Switzerland. Here, they will compete with the other winners to win up to US$1-million in equity investment. The Rwandan winner, Kasha is a startup which delivers female health products through their accessible retail mobile platform. They took the crown for Best Startup due to their online and offline solution. "Kasha exists because women are the biggest business opportunity and the way women access health products today is an...

  • TEF Entrepreneurship Programme now accepting applications

    The Tony Elumelu Foundation (TEF) has announced that they will now be accepting their third round of applications from 1 January 2017. TEF is an entrepreneurship programme which aims to provide a long-term foundation using investments to empower young African entrepreneurs. The foundation is marking its 10-year anniversary with a US$100-million commitment to training and mentoring 10 000 African entrepreneurs. "I believe the seeds we are planting through the programme will transform Africa. Two years on, it is clear that we have found a key to unlocking Africa's potential for economic transformation," said TEF founder, Tony Elumelu in a press release. "As our entrepreneurs...

  • 2016 ABAN Investor Masterclass Series set to conclude

    The 2016 ABAN Investor Masterclass Series will see early-stage investors gathering in Cairo as well as Lagos next week to discuss and share best practices at Early Stage Investor Masterclasses. These masterclasses will conclude the 2016 ABAN Investor Masterclass Series which consisted of other bootcamps and classes all around the world. The Cairo Masterclasses will take place on 6 December 2016 at the Cairo Mariott Hotel Zamalek while the Lagos Masterclass will take place on 10 December at The Wheatbaker Lagos. Both events are organised by VC4A and Rising Tide Africa as well as the Lagos Angel Network. Speakers include the president of EBAN,...