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Africa

10 ventures announced for the Africa Tech Summit Nairobi 2024 investment showcase

todayJanuary 19, 2024 4

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Africa Tech Summit Nairobi has announced ten African tech ventures that will showcase their solutions to a diverse audience of industry experts, investors and fellow innovators on February 14th and 15th.

While African startup funding declined in 2023, the investment showcase continues to foster collaborations and stimulate investment opportunities to bridge the funding gap in the ecosystem. According to data from Africa: The Big Deal, African startup funding experienced a 39 per cent decline, falling to $2.9bn in 2023 from $4.6bn recorded in the previous year.

The 250+ entries received from various countries across Africa, including Kenya, Egypt, Tanzania, Nigeria, Ghana, South Sudan, Malawi, Angola, Morocco, Botswana, Benin, Congo, Uganda, South Africa, Sierra Leone and more, highlight the immense potential for innovation and partnerships in the continent. The ten selected ventures, spanning fintech, agritech, e-commerce, Web3, and climate-tech sectors, are looking to raise funding ranging from $500,000 to $15mn. They include:

Node Bio (Kenya) is utilizing cutting-edge plant science to develop crop treatment that effectively combat the adverse effects of climate change. Their innovative solution, Farmchef, enables plants to withstand drought, extreme heat, and other water-related stressors.

Valu (Egypt) is MENA’ s leading Buy Now Pay Later (BNPL) lifestyle-enabling fintech platform, offering customers and businesses convenient and comprehensive financial solutions.

Bingtellar (Nigeria) is building payment infrastructure for global citizens including freelancers, remote workers, contractors, businesses. Their ramp product simplifies the process of buying and selling crypto and facilitates swift money transfer across Africa.

Dukka (Nigeria) is digitizing payments and bookkeeping solutions to assist small businesses across Africa to accept all digital payment methods.

FutureLink Technologies (Uganda) is a digital marketplace that is simplifying financial access for individuals and facilitating payments for financial cooperatives. FutureLink Technologies is the first African company to win the Global SME Finance Platinum Award for Product Innovation of the year 2022.

Tausi App (Kenya) is a beauty tech company that is leveraging technology to link beauticians to potential customers. Tausi has registered over 6000 beauticians so far.

Feegor (Nigeria) is a B2B e-commerce company that is connecting Small and Medium Enterprises (SMEs) to manufacturers and major wholesalers.

Peercarbon (Kenya) is a climate fintech startup leveraging granular emissions data and cutting-edge sustainable finance technology to empower African SMEs. Peercarbon’s Software as a Service (SaaS) platform provides real-time insights, making it easy for businesses to track their carbon footprint.

Regxta (Nigeria) is making financial services accessible to underserved communities and micro-businesses in rural and peri-urban areas across Africa, including internally displaced persons and refugees.

URBANET (Kenya) promotes international dialogue on development activities worldwide, providing insights on municipal and local governance, sustainable urban development, and decentralization.

Henry Umunnakwe, Ecosystems & Sales Manager of Africa Tech Summit shared: “Amidst the challenging backdrop of decreased funding for African startups in 2023, the resilient spirit of entrepreneurship continues to thrive across the continent, and we are delighted to introduce these 10 pioneering ventures for this edition of the Investment Showcase. Our main objective of the Showcase is to spotlight and foster connections for these ventures with both local and global investors. We look forward to welcoming over 1000 delegates to the summit to catalyse collaborative efforts and propel investments to further fuel innovation and growth throughout the continent.”

Register for passes to Africa Tech Summit Nairobi, Feb 14th & 15th here

Written by: Dilia Mazula

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