Twiga Foods has raised $50M in its Series C round to take its mission to expand food and retail distribution across the African continent. The firm, which launched in 2014, uses technology to build supply chains in food and retail distribution. It claims to simplify the supply chain between fresh food producers, FMCG manufacturers, and retailers through a B2B e-commerce platform and it currently has over 100,000 registered customers and delivers to 10,000 every day. Twiga now plans to use the funding to test out a model they’re developing “to reduce the
An African startup described as the “booking.com for healthcare” by its founder has raised $1.5 million from its most recent round. RecoMed acts as a marketplace where patients can find and book services with healthcare professionals across South Africa. Sheraan Amod first founded the company after a brief stay in the U.S, where he experienced for the first time what it was like to book medical appointments online, which wasn’t the case back in his home country, South Africa. Mr. Amod then returned and created the company he refers to as
Bolt is set to roll out electric taxi options in South Africa four months after introducing e-bike food delivery services as part of its mission to expand across the continent rapidly. The move comes amid plans by Uber to test a carpooling and rideshare service in Nairobi, with ideas to also roll it out in Ghana and Nigeria. Bolt’s electric taxi option is part of the company’s “green category” initiative. The system lets riders only hail an electric or a hybrid vehicle – which is considered more environmentally friendly. The firm
NYSE-listed e-commerce platform Jumia experienced a drastic change in shopping habits across its markets in Africa last year, as more shoppers bought everyday products as opposed to electronics. According to a newly released Jumia Africa E-commerce Index 2021 report – consumables were in demand across the African continent during the series of lockdown. Shopping for essentials such as foodstuff, fashion, and beauty products saw Jumia’s total sales value of Fast-Moving Consumer Goods grow by 13 percentage points last year, from 44% in 2019, the report said. The report also added that
Vendease, a digital marketplace that allows food businesses to buy supplies straight from manufacturers and farms, has successfully raised a seed round of $3.2 million. When a restaurant places an order, the firm’s system generates all the possible suppliers that can fulfill it. It then looks at the best pricing versus quality and assigns that order to the supplier. According to the company, founded by Tunde Kara, delivery is made within 24 hours, either by itself or by a third-party logistics provider. This is a huge milestone for the company.
Uber is set to launch its new ‘Pool Chance’ service in Kenya, enabling riders heading in the same direction to share the cost on their journey. Riders have a chance of getting discounted rides if the driver picks up other passengers; otherwise, they’ll have to pay the regular fees they’d pay for an individual ride. UberPool negotiates a specific carpool rate for the rider regardless of who else gets into the vehicle. The Pool Chance trip option is available on the budget service, Chap Chap in Nairobi; in the populous Nigerian city of Lagos
Google has just launched TaskMate, a crowdsourcing app that lets people use smartphones to do tasks and get paid, in Kenya after a year-long experiment in the East African country. This launch, however, is just the beta version. TaskMate joins a growing list of apps and services launched by Google that offer people local job opportunities such as taking a photo of a nearby restaurant, answering survey questions, or helping translate sentences from English to your local language. It also includes a rewards app that lets people get paid for filling out local services
MPharma, a Ghanaian health tech startup is set to open 100 virtual centers across seven markets in Africa over the next six months. The company, founded by CEO Gregory Rockson, has the goal to deliver quality primary care in the communities they serve by providing medical examinations. MPharma already provides about 10,000 physician consultations to patients at the startup’s network of pharmacies. Its also managed to raise over $50 million since inception; this includes a Series C round of $17 million, led by U.K.’s development arm CDC Group last year. Other existing investors include
In the US, accelerators like Techstars and Y Combinator are the most active investors in Black founders, followed by early-stage investors like Backstage Capital and Kapor Capital that focus on diverse founders. As we already know, Black founders often get a small portion of the pie when it comes to investment – which is why it’s essential to highlight the VCs dedicated to investing in minority communities and those who have a history of supporting under-appreciated groups. We’ve sifted through a list created by the Black Founders list of VC firms across the US that
An African startup that helps connect consumers’ bank accounts to financial applications has raised a $15 million Series A round. Tiger Global led Mono’s round. The firm also had participation from new investors Target Global, General Catalyst, and SBI Investment. New investors were joined by existing ones, including Entree Capital, Lateral Capital, Golden Palm Investments, Acuity VC, and Ingressive Capital, bringing Mono’s total raise to a little over $17.5 million since launching last year, reported TechCrunch. Launched in August 2020, the company streamlines various financial data in a single API for companies
