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Seedstars Africa Ventures appoints new partner to back more founders in the continent

Nsereko-Lule was previously the founding investment principal of Chandaria Capital, a Kenya-based VC founded in 2017, that has so far invested in 38...

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Metaverse Magna raises $3.2M at a $30M valuation to build Africa’s largest gaming DAO

This February, Africa and emerging market-focused Nestcoin raised a pre-seed round to build, operate and invest in its web3 applications, including...

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We Reali don’t know when real estate will get Better

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This was a...

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Nigerian digital bank Kuda is the latest African startup to lay off employees

Kuda, the challenger bank based in Nigeria and the U.K., has joined the ranks of tech companies in Africa that are pruning its workforce.

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Jumia, Zipline launch drone package delivery in Ghana

The drones deployed in Ghana have a maximum payload of 11.8 liters or 6.6 lbs (3 kgs).

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Kenyan fintech Pezesha raises $11M backed by Women’s World Banking, Cardano parent IOG

Pezesha has built a scalable digital lending infrastructure that allows both traditional and non-traditional finance institutions to offer working...

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New rules for digital lenders in Kenya aim to weed out bad actors while bolstering sector growth

The new law gives the CBK requisite authority to police digital mobile lenders that have flooded the local market in the last few years.

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YC-backed Zywa, a neobank for Gen Z, raises $3M to expand across MENA

Zywa has raised $3 million seed funding, months after securing $1 million pre-seed backing.

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Microtraction hits $15M first close on its second fund for pre-seed investment in African startups

Microtraction, an early-stage venture capital firm that invests in African startups at the pre-seed stage, is announcing that it has reached the...

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Nigerian B2B e-commerce platform Omnibiz raises millions to gain and retain retail customers

Omnibiz is a Lagos-based B2B e-commerce and retail platform that connects fast-moving consumer goods manufacturers to retailers by digitizing the...

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Paris-based Koolboks closes $2.5M seed round to scale solar refrigeration across Africa

For restaurants or neighborhood stores dealing with perishables, frozen foods and beverages, having intermittent electricity inhibits growth of their...

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Kenyan agtech iProcure raises $10.2M to grow its input supply network

Iprocure has secured $10.2 million, including $1.2 million in series B funding, in a round led by impact investor Investisseurs & Partenaires...

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Web3 giant Parity Technologies teams up with Watr over platform to track ethical commodities

As the US and Europe bakes in abnormal summer heat, the climate continues to climb up the world’s agenda. With everyone now talking about energy,...

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Ex-Novastar partner Niraj Varia takes on new challenge as CEO of Kenyan agtech iProcure

Varia will steer iProcure's growth in Africa.

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Google’s third bet from its Africa Investment Fund is in logistics company Lori Systems

African Investment Fund is part of Google's plan to invest $1 billion in "tech-led initiatives" over the next five years.

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VCs set sights on African countries beyond the ‘Big Four’

Outside the Big Four, investments ballooned to $1.4 billion, up 382% year on year, according to Partech's 2021 report.

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Tencent veterans secure $13M to build cross-chain decentralized identities

There is a host of startups working on decentralized identities for the next generation of the internet. Four Tencent veterans want their offering...

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So, when is the SoftBank Execution Fund III dropping?

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines....

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Kenyan B2B e-commerce platform Marketforce cut about 9% of staff in reorganization strategy

Marketforce laid off 54 people last month, so about 9% of its overall workforce, mainly from field sales, supply chain and customer experience...

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Jumia shares rise as the company’s e-commerce business revs up in Q2

African e-commerce giant Jumia reported its second-quarter financial performance today. In the wake of its financial reporting this morning,...

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QED makes its first African investment, backing Nigerian fintech TeamApt in $50M+ deal

QED Investors, a U.S. fintech-focused venture capital firm, has led a new investment in TeamApt, a Nigerian fintech that provides business payments...

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In Africa, Kenyan startups have so far recorded highest funding growth this year

Kenya has showed the greatest growth in funding gained in the first six months of this year.

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Miferia wants to expand its wholesale inventory marketplace across Latin America

The Mexico-based company enables retailers to bring their inventory relationships online, expand their product selection and get more favorable...

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Startups among entities to face tougher laws as Kenya moves to protect personal data

The registration kicked off after the data protection regulations, providing guidance to be adhered by data controllers and processors, came into...

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Beacon Power Services raises $2.7M to improve electricity access for sub-Saharan African cities

Beacon Power Services provides data and grid management solutions to help Africa’s power sector distribute electricity more efficiently.

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UAE aims to convert oil wealth into tech prowess

H.E. Al Olama recently spoke about the burgeoning Emerati startup and venture capital ecosystem, and the country’s approaches to attracting U.S. VC...

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Kenyan logistics startup Sendy cuts 10% of its workforce

Kenyan logistics startup Sendy has laid off 10% of its 300-strong workforce, or 30 employees, according to local news publication TechCabal. This is...

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Identity verification company Youverify extends seed funding to $2.5M as it expands across Africa

Youverify, an identity verification company helping African banks and startups, is announcing that it has secured a $1 million seed round extension.

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