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Startup news

  • 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...

  • University-linked incubator Roar Nigeria to invest in 10 startups in 2018

    Business incubator Roar Nigeria plans to this year invest in 10 startups, with the first of those investments to come in the next three months, its director Charles Emembolu said yesterday. "We expect (the) next investments within 90 days," Emembolu said in an email to Ventueburn yesterday (10 April) without disclosing how much the incubator, which is based in Enugu, Nigeria, planned to invest. He said that the incubator has yet to make investments in any of the 13 startups it has so far supported and funded, but that the plan is to take 10% equity in those companies that the incubator's team decides to invest in. Roar...

  • Fintech accelerator DFS Lab to invest $200k in four African startups

    US-based fintech accelerator Digital Financial Services Lab (DFS Lab) yesterday (11 April) announced that it will invest $200 000 in four African fintech startups, including Nobuntu, Cherehani Africa and NALA. In addition to the $50 000 investment per startup, the selected companies will also receive six months intensive mentorship and integration into a global network of experts who will be working with the four startups. The accelerator, which is funded by the Bill and Melinda Gates Foundation, made the announcement in a press release to Ventureburn. The four investments bring the total DFS LAb portfolio to 12 startups. In addition to the...

  • Healthtech startup Vula Mobile raises R1m after partnering with HAVAÍC

    Medical referral startup Vula Mobile has raised R1-million in a seed round after partnering with Cape Town-based investment and advisory firm HAVAÍC. Vula, which was founded in 2014 by Dr William Mapham, enables health workers -- particularly those in undeserved remote rural areas -- to get patients quick and specialist referrals in opthalmology, cardiology and orthopedics. The R1-million seed round with HAVAÍC -- which was conducted over three weeks -- was concluded in January and saw Vula's partners, users, stakeholders as well as HAVAÍC partners each invest a minimum of R5000 each. Vula enables health workers - particularly in remote areas - to get...

  • 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...

  • JP Morgan, Tshimologong Precinct launch Africa Rising 4.0 incubation programme

    JP Morgan, an asset management, private, corporate and investment bank, has collaborated with Johannesburg digital innovation and incubator Tshimologong Precicnt to launch the Africa Rising 4.0 incubation programme. Applications for the 12-week incubation programme -- which aims to power digital entrepreneurship and early stage startup growth in Johannesburg -- are now open and will close on 25 April. The Africa Rising 4.0 incubation programme is designed to coach the disciplines of entrepreneurship, while also building innovative digital businesses In a statement today (10 April), Tshimologong Precinct enterprise development manager Shaun Randles said the programme will train participants on entrepreneurship and building innovative digital businesses. "We are...

  • Here are the 11 startups that Pangea is considering investing $50k in each

    Norwegian-based startup investment platform Pangea has announced the 11 startups from its Nairobi-based accelerator that stand the chance of each getting up to $50 000 in investment from selected international investors. Pangea, which connects African startups with international investment and expertise, announced the startups in a post on its website last Friday (6 April). The shortlisted companies are all participants of the platform's 12-week accelerator programme, which Pangea has been running in partnership with Liquid Telecom and Strathmore University's @iBizAfrica. Investors who are interested in investing in the startups will have to undergo Pangea's six-week long investment programme. Read more: Norwegian accelerator Pangea seeking African startups for Kenya programme Of the 11 startups...

  • Canadian blockchain partnership allows Kenyan fintech to bypass regulators [Updated]

    A Kenyan fintech that plans to a launch a blockchain-based crowdfunding platform to fund small businesses has been able to bypass local financial services regulations -- thanks to a partnership with a Canadian company, says a spokesperson for the Kenyan firm. The partnership will see Canadian Company Finhaven raise the necessary capital via the blockchain on behalf of Kenya's 4G Capital. "We will only be bringing in US dollars into the country, which would then be converted into Kenyan shillings," said 4G Capital spokesperson Lydia-Claire Halliday, whose consultancy handles corporate communications for the fintech company. Halliday was responding to questions from Ventureburn on how Canadian securities issuance...

  • TLcom $5m investment two years in the making says Terragon CEO Elo Umeh

    Nigerian data analytics startup Terragon Group's announcement last week that it had secured $5-million in investment from venture capital company TLcom was the result of two hard years the analytics firm spent looking for funding. The equity investment will be used to drive sales growth, technology depth and operational expansion. In an email to Ventureburn yesterday (5 April) Terragon founder and CEO Elo Umeh (pictured above) said the deal, which was concluded late last month, had been in the works for about two years after TLcom approached the analytics firm. "Our goal from the start has been to choose the right investors and...

  • Ventureburn invited to attend prestigious Seedstars Summit in Switzerland

    Ventureburn has been invited to attend the fifth annual Seedstars World Summit -- one of the largest emerging markets startup competitions of its kind. The summit -- which will take place at the SwissTech Convention Centre in Lausanne, Switzerland next Thursday (12 April) -- will see over 65 startups from around the world (see the list here) compete for the title of Seedstars Global Winner, and up to $1-million in equity investment. Speaking ahead of the summit Ventureburn editor Stephen Timm, who will fly to Switzerland next week to represent the publication there, said it is notable that of the 65 startups that have been selected to...

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