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All posts by Stephen Timm: Editor

  • Angolan capital’s traffic proves no headache for delivery startup Tupuca

    Angola's capital Luanda is notorious for some of the worst traffic on the continent. Now four entrepreneurs founders who run a food delivery startup in the city are seeking to capitalise on what is usually a headache for residents there. Since Wilson Ganga, Erickson Mvezi, Patrice Francisco and Sydney Teixeira set up Tupuca in 2015 the startup has scored a collective $200 000 from two investors. In recent months deliveries through the app from restaurants in the city have grown a few times over. "(Traffic is) terrible but that's how it benefits us, because in lunchtime instead of people going into the traffic to...

  • ‘Investor’s share in Giraffe funding round valued at R10m to R20m’ [Updated]

    SA startup Giraffe announced today that it has closed a second funding round, with a lead investor participating in the round revealing that its own share of the contribution was valued at "between R10-million and R20-million". In a press release today the startup, which runs a web platform that matches job seekers with job placements, said it had closed a second round of equity funding, led by Edge Growth’s Vumela Fund with participation from Omidyar Network, Catapult Trust and the Nando co-founder Robbie Brozin's family office Forever Young Capital. While the startup's founder and CEO Anish Shivdasani would not reveal the details of the deal, when pressed for comment...

  • Ex-Visa man, Vio Digital founder plans US move if remittances app takes off

    Johanneburg-based Praga Govender, the man behind a new blockchain app aimed at lowering the cost of remittance payments to Africa, says he plans to relocate to the US should his fintech Vio Digital take off. Govender, a former Visa products manager, founded the startup in January. While the app is currently available for download on the Google Play Store, it is expected to launch first in four countries -- Nigeria, Ghana, Kenya and Cameroon -- in May, before further countries are added While he is currently working from his home in Bryanstan, Johannesburg, Govender says should the company take off he may consider moving to...

  • Seedstars winner AgroCenta secures third of $750 000 funding from US investor

    Fresh off being named 2018 Seedstars Global winner, Ghanaian agritech startup AgroCenta is hoping to raise $750 000 in funding in a new seed round, and has raised about a third of this from a US investor, the startup's co-founder Michael Ocansey said. Ocansey was speaking to Ventureburn last Thursday (12 April) at the Seedstars Summit in Lausanne, Switzerland, where the startup was crowned the 2018 Seedstars Global winner and with it $500 000 in equity investment from Seedstars. He said $230 000 of the round had been committed by the US investor. AgroCenta is an online sales platform started in 2015 by Ocansey and Francis Obirikorang. It...

  • Michael Jordaan backed startup Alto Africa reports 85% growth in 2017

    Cape Town based tech company Alto Africa, which has investment from Michael Jordaan's Montegray Capital, saw 85% growth in revenue in 2017, following a 50% growth in revenue in 2016. The company has developed Cloudbox -- what it calls an "all-in-one" IT cloud solution in a box for SMEs. The solution incorporates email, email backups, file sharing, computer backups, antivirus and communication into one simple package to take the complexity out of IT. Trent says everything is taken care of under one roof by one vendor on a per-user, per-month basis for a flat monthly fee. He says the company has signed up 170 SMEs so far -- most of...

  • African agritech startup AgroCenta named 2018 Seedstars Global winner

    Ghanaian startup AgroCenta has been crowned 2018 Seedstars Global Winner at an awards ceremony in Lausanne, Switzerland today, and walks away with $500 000 in equity investment. African startups dominated the awards ceremony -- which took place at the SwissTech Convention Centre at the conclusion of the fifth annual Seedstars World Summit today (12 April). Four of the five main awards were scooped by African startups. AgroCenta is an online sales platform started in 2015 by Francis Obirikorang and Michael Ocansey. It connects smallholder farmers directly to an online market which has wider geographic size, to sell their commodities. Read more: Ghanaian agritech startup AgroCenta eyes expansion with Nigeria...

  • Here are the 12 finalists who will pitch for 2018 Seedstars World prize, up to $1m

    Cape Town healthtech startup EM Guidance is among 12 startups that has been selected by a panel to compete later today for the title of 2018 Seedstars Global Winner, and up to $1-million in equity investment. CEO Yaseen Khan was the last of the names to be called out for the 12 yesterday late afternoon at the SwissTech Convention Centre in Lausanne, Switzerland where the fifth annual Seedstars World Summit is taking place today (12 April). Ventureburn is in attendance. The 12 were shortlisted out a list of 65 startups who were invited to attend the summit and which Seedstars had arrived at after spending a year...

  • For second year Cape Town ranked top tech ecosystem by Seedstars Index

    Cape Town has again been ranked as the top tech entrepreneurial ecosystem for startups among 71 emerging markets cities by the Seedstars Index (SSI). The results of the global emerging markets competition Seedstars’s 2017 index were released today in a publication made available ahead of its annual Seedstars World summit which takes place tomorrow (12 April) in Lausanne, Switzerland. With a measure of 74.4 (with Silicon Valley at a base of 100) Cape Town is ranked ahead of Santiago, Chile (69.6) in second, Nairobi (68.4) in third and Mexico City (68.1) in fourth. Johannesburg ranks eighth and Lagos 21st. While Cape Town...

  • Krypteum ICO for ‘world’s first AI investment cryptocurrency’ nets just $1m

    SA startup Krypteum has raised $1-million in an initial coin offering (ICO) which ended last month and that aims to develop what it claims is the world’s first artificial intelligence (AI) powered investment cryptocurrency. However, the amount is far less than the $4-million Krypteum hoped to raise, its founder Priven Reddy said today. The month-long ICO for Durban-based Krypteum ended on 31 March and the startup made available 400 000 tokens -- which in its white paper is valued at $112 each. Reddy, who is also the CEO of SA mobile app development group Kagiso Interactive which owns Krypteum, told Ventureburn today in a call from Paris that...

  • Here are the 65 startups that will pitch at the 2018 Seedstars Summit

    The fifth annual Seedstars World Summit — one of the largest emerging markets startup competitions of its kind -- is just days away from kicking off. The summit, which takes place on Thursday (12 April) will see 65 startups from around the world gather in Lausanne, Switzerland to compete for the title of Seedstars Global Winner, and up to $1-million in equity investment. Seedstars this year visited 65 countries, 75 cities and organised 85 events in six months Every year, the Seedstars team roams the world to scout for the best startups in the emerging markets. This year they visited 65 countries, 75 cities and organised...

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