Weekly Recap of Africa Startup Funding
Mali’s SolarX Raises Additional Funding From Energy Access Ventures
SolarX, a West African supplier of renewable energy equipment, received additional funding of an undisclosed amount from Energy Access Ventures (EAV). The startup plans to the latest equity and quasi-equity funding to support a pipeline of projects in Mali and Burkina Faso for commercial and industrial clients.
Nigerian Startup Bongalow Secures Funding From UNCOVERED FUND
Bongalow, a Nigerian home financing startup, raised seed funding of an undisclosed amount from UNCOVERED FUND, a Japanese venture capital company focusing on Africa. Bongalow seeks to use the capital to solidify its presence in the market
Egyptian Network Platform Tays Raises Pre-seed Funding Round For Expansion
Tays, a Cairo-based professional network platform that connects users based on business interests, raised a seven-figure pre-seed round from a group of angel investors. The startup did not reveal the names of the investors or the amount of money raised.
Egyptian Startup Mozare3 Raises Pre-Seed Round For Expansion
Mozare3, an Egyptian Agri-Fintech platform, closed a seven-figure pre-seed funding round to help it expand. Algebra Ventures and Disruptech Ventures led the round, which also included EFG-EV and a group of reputable angel investors.
Nigerian API Fintech Mono Raises USD 2 Mn Seed Funding
Mono, a Nigerian API fintech startup, raised USD 2 Mn in seed funding to help fuel the African Internet economy. Investors in the round included Entrée Capital, Kuda co-founder and CEO Babs Ogundeyi; Gbenga Oyebode, partner at TCVP; and Eric Idiahi, co-founder and partner at Verod Capital. New York but Africa-based VC Lateral Capital also invested after taking part in Mono’s pre-seed.