Antler set to announce names of five startups that netted $100k from Nairobi programme

Antler, a global startup generator and early-stage venture capital fund, will next month announce the names of the five startups that each netted $100k investments, following Antler’s inaugural Nairobi programme held last year.

The news comes after Singapore-founded Antler last week announced that it had raised an additional $50-million to help fund its accelerator programme which runs in eight locations, including Nairobi. The new investors include among others, Facebook co-founder Eduardo Saverin.

Through its venture builder programme, Antler selects bright and determined entrepreneurs and helps them to find the right co-founder. It then connects them to a top tier network of over 300 advisors and experts worldwide.

So far, the organisation — which was founded in 2017 by Magnus Grimeland — has invested in over 120 startups.

Selam Kebede, a director at Antler, told Ventureburn in an email yesterday that the company had made a decision that it would wait until the programme’s demo day which will take place on 12 February, to disclose details of the funding.

Five of the 17 startups that took part in Antler’s inaugural Nairobi programme held last year each netted $100k

The Nairobi programme, she said, kicked off in August last year.

Antler said in a statement in November that the five startups were part of 17 teams that took part in the 10-week programme. The 17, with 37 founders from 13 nationalities, were chosen from 1400 applications.

Each of the five netted $100 000 in pre-seed funding for a 20% equity stake, Antler said.

The five startups are from adtech, fintech, healthtech, logistics and social commerce verticals, Antler said at the time.

In all, 80% of the 37 founders met their co-founders during the programme.

The invested startups are currently working with Antler to grow and scale their companies by accessing Antler’s global network of advisors, investors and experts to help them along the way.

Five startups include Kenyans, other Africans

Kebede said the five startup teams that received investment are made up of a combination of Kenyans and Africans from other countries on the continent.

She stressed however that the Nairobi programme is open to Africans as well as those from outside the continent.

“The 13 non-Kenyans included founders from various African countries, Singapore, Italy, Ukraine, India, and the US. We expect to get the same type of mix in the upcoming cohort as well,” she added.

Antler will launch its second Nairobi programme in March. Those interested can apply here.

Featured image: Antler partner Marie Nielsen addressing founders from the programme (Supplied)