Bio-Logical, a Kenyan climate startup, has secured $1.3 million in funding to expand its Mount Kenya biochar facility, boosting production capacity and supporting smallholder farmers across the country. The funding round was led by CrossBoundary, Redshaw Advisors, and existing investors like the Steyn Group, marking a significant step towards scaling up operations.
Nigerian fintech startup Regxta has emerged as the winner of the fourth edition of the Pitch2Win startup competition, earning US$10,000 in equity-free funding and an all-expenses-paid trip to IVS2024 Kyoto, Japan’s largest startup conference. This significant victory highlights Regxta’s innovative approach to providing financial services to unbanked individuals and micro-businesses in rural and peri-urban communities across Africa.
Candi Solar, a leader in solar power solutions for commercial and industrial clients, has successfully closed its Series C funding round, securing a substantial US$38 million in equity investment. This round was led by Norfund, Kyuden International, and STOA, underscoring strong investor confidence in Candi’s mission and growth potential.
Immobazyme, a biotechnology start-up based in Stellenbosch, has announced a significant milestone with the securing of $1.3 million (R24.5m) in its latest funding round. Known for its enzyme immobilisation platform and precision fermentation technologies, Immobazyme plans to utilize this funding to expand its operations, including doubling the size of its facility and enhancing production capabilities….
ICP Hub Kenya has announced a strategic partnership with crypto payments startup Kotani Pay as part of the Olympus Accelerator Programme. This collaboration aims to leverage their unique strengths and resources to drive blockchain technology adoption and empower Web3 developers in East Africa.
Kenya’s capital city, Nairobi, has significantly improved its ranking as one of the most preferred cities for startup investments, climbing 24 places to position 113 globally, up from 137th last year. According to the latest Global Startup Ecosystem Index report by StartupBlink, Nairobi also moved up one spot among African peers to rank third, surpassing South Africa’s Cape Town.
Kenyan startups, BasiGo and Kapu, have been selected to join the prestigious World Economic Forum (WEF) Technology Pioneers Community! This elite program grants them access to a global network of investors, mentors, and resources.
Microsoft is set to host the African Start-Ups Artificial Intelligence (AI) Fest on June 6 in Johannesburg. This hybrid event, led by Microsoft Africa president Lillian Barnard, will bring together technology company founders, leaders, start-up partners, and customers. Those unable to attend in person will be connected virtually, ensuring wide participation and engagement.
