Exciting news in the African startup ecosystem! Madica, a structured investment programme, has announced its first round of investments in three promising startups. Each of these businesses will receive up to $200,000 in funding along with 18 months of tailored support to help them grow and succeed.
The selected startups cover a diverse range of industries and geographies. From Kola Market in Ghana, assisting SMEs with sales optimization, to GoBEBA in Kenya, streamlining e-commerce for bulky essential utilities, and NewForm Foods in South Africa, revolutionizing cultivated meat production, Madica’s investments reflect the vibrant innovation happening across the continent.
Emmanuel Adegboye, head of Madica, emphasized the importance of supporting African founders who often face challenges accessing funding. He highlighted Madica’s mission to bridge the gap in venture funding and integrate African startups into the global ecosystem, showcasing the untapped potential of the continent’s entrepreneurs.
Madica’s approach is sector-agnostic, aiming to address structural inadequacies in Africa’s startup ecosystem. Linked with Flourish Ventures, a global Fintech venture capital firm, Madica offers an open application process, inviting entrepreneurs to apply directly. With plans to invest in up to ten additional startups this year, Madica is set to play a pivotal role in driving innovation and entrepreneurship across Africa.
