June Industry News

01 June 2023


A collection of news across the African private equity and venture capital industry

Amini raises US$2mn to solve environmental data scarcity for Africa.

Amini, Corp., an early-stage company focused on solving Africa’s environmental data gap through artificial intelligence and satellite technology, has raised $2M in pre-seed funding in an oversubscribed round led by Pale Blue Dot, a leading European Climate Tech fund.

Source: Further Africa

Helium Health raises US$30mn in Series B funding

Helium Health, the African startup that provides software-as-a-service tools, financing and insights for healthcare providers and public health organizations, has raised $30 million in Series B funding

Source: Tech Crunch

Irish development agency closes a €10mn green impact fund to invest in Africa

The fund is being backed by Irish venture philanthropists and American impact investors in what Vita hopes will be the first of a number of funds helping millions of people in rural Ethiopia and Eritrea use carbon-saving cookstoves and access safe water.

Source: The Currency

Intaba Capital invests in DigsCnnect

South African digital student accommodation platform DigsConnect has secured an undisclosed amount of funding from Intaba Capital as part of its ongoing Series A round.

Source: Disrupt Africa

Swedfund invested USD 10 million in "E3 Low Carbon Economy Fund I"

The fund targets investments in renewable energy, climate and digitalization in developing countries in sub-Saharan Africa, including Kenya, South Africa, Ghana and Nigeria.

Source: Swedfund

Nigeria's Haul247 raises funding to scale its logistics platform

Haul247, a Nigerian end-to-end logistics platform connecting businesses to haulage and warehousing assets, has raised a $3 million seed

Source: TechCrunch


ecoligo receives EUR 2 million from the Energy Entrepreneurs Growth Fund

ecoligo plans to use the EEGF loan managed by Triple Jump to expand its operations in sub-Saharan Africa, providing local businesses with access to low-cost solar power.

Source: Starbase


The Spark+ Africa Fund Provides US $3.5 Million in Carbon Finance

Spark+'s subsidiary TASC will distribute clean cookstoves to households in rural Zambia through a long-term carbon financing.

Source: Yahoo! Finance


Eze secures US$3.7mn seed funding

Nigeria’s Eze, a wholesale marketplace for used and new electronics, has secured US$3.7 million in seed funding to develop its technology infrastructure, broaden its product offering and expand into new markets in Africa, Europe and South America. 

Source: Disrupt Africa

Zambia-focused PE fund reaches US$40mn first close

Monter Capital Partners in Port Louis successfully completed the first close of $40 million for its flagship $100 million fund, in a landmark raising for a Zambia private equity firm.

Source: African Business


Peach Cars, a Kenyan used-car marketplace, raises US$5mn in seed investment

Kenyan automotive marketplace Peach Cars is announcing its $5 million seed round led by Japan-based The University of Tokyo Edge Capital Partners (UTEC) and other angel investors, including Shintaro Yamada (founder and CEO of Mercari), Peter Kenevan (VP, Head of Japan at PayPal), and Hiroaki Ohta (general partner at Japan’s Waseda University Ventures).

Source: Yahoo! News


South Africa's Maltento raises US$3.3mn to grow insect-based feed solutions

South Africa-based biotechnology company Maltento has raised $3.3 million in funding, led by Sand River Venture Capital, to grow insect-based feed solutions. The investment represents a significant advancement in the company's mission to develop novel, long-lasting solutions for the animal feed business.

Source: Techloy

Celebrating 10 years of AFSIC – Investing in Africa: An Interview with MD, Rupert McCammon 

What can I expect to experience when attending AFSIC?

AFSIC, now in its 10th year, is believed to be the largest African investment event taking place annually outside Africa and has become one of the most important conduits of investment into Africa. Over the past ten years AFSIC has been entirely focused on bringing together Africa’s business leaders and Africa’s most interesting investment opportunities with the continent’s most important investors and dealmakers to facilitate new investment into Africa.

Source: AFSIC