202424 Apr

Madica Announces First Set of African Tech Portfolio Companies

Summary

The program tackles key challenges such as limited access to capital, a scarcity of investors, insufficient mentorship, and the lack of structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.Madicas first set of investments, selected from applications covering Africa, deliver tech-enabled solutions across growing and expanding verticals, include: Kola Market (Ghana), founded by Marie-Reine Seshie, assists SMEs in enhancing sales, optimising inventory, and securing financing via a comprehensive B2B platform that simplifies business operations and improves efficiency. GoBEBA (Kenya), co-founded by Lesley Mbogo and Peter Ndiangui, offers a direct-to-customer e-commerce platform that streamlines the purchase and delivery of bulky essential utilities, ensuring safe, quick, and reliable doorstep service in urban areas. Its a significant moment for us at Kola Market because it goes beyond just funding it is a strong vote of confidence in our mission to transform the SME landscape in Africa, and Madicas post-investment support sets us on an accelerated path. Were encouraged about the possibilities this support opens up, allowing us to test new ideas and scale our operations in ways that will make a difference, especially for our customers.Were excited to be working with Madica as we grow our team, develop our production capabilities and bring cultivated meat to mainstream markets. Madica also provides ongoing support to programs like Women Who Build Africa, which champions and celebrates the remarkable achievements of female tech founders driving innovation across the continent.

Source: Appsafrica

Funding

$200K
Amount
Apr 24 2024
Date
-
Investor
NewForm Foods
Company

Classifications

Companies