Weekly Roundup 🌍
Funding Announcements💰
The funding round was led by Disruptech Ventures, with investments from EdVentures and CFYE, among others, as part of its aim to educate one billion learners in ten years.
Sprints, the first end-to-end platform to close the tech talent gap, was co-founded in 2020 by Ayman Bazaraa and Bassam Sharkawy. It offers talent assessment, personalized learning paths, and a top-paying employment guarantee.
The startup offers top-notch, agile-based learning experiences that enable businesses to create elite tech teams in all domains, including cybersecurity, AI, data science, mobile, web, IoT, and cloud computing.
“Our team is the beating heart of this success. We’re a proud force of passionate trailblazers, consisting of over 100 employees and 300 trainers from 12 countries, united by a single mission, to revolutionize education through AI. This investment is a resounding validation of the team’s tireless efforts and unwavering dedication. Today, I stand proud of what we’ve collectively accomplished, and brimming with anticipation for the future we will pave together,” said Ayman Bazaraa, CEO of Sprints.
Kenya’s SunCulture raises $27.5m in oversubscribed Series B funding round
SunCulture helps smallholder farmers grow more food with climate technology, financing, and a digital marketplace. The company has more than 50 per cent market share for smallholder farmer solar irrigation systems in Sub-Saharan Africa, and its solar-powered water pumps and irrigation systems have been transformative for smallholder farmers, enabling access to water, reducing labor costs, and increasing crop yields.
The US$27.5 million Series B funding round attracted a diverse group of international investors – Reed Hastings, InfraCo Africa Limited, Acumen Fund, The Schmidt Family Foundation, and others – as well as follow-on investment from EDF Group, Equator, and the Acumen Resilience Agriculture Fund (ARAF).
The investment will fuel SunCulture’s continued growth, enabling the expansion of its product line, entry into new markets, and further development of its technology platform designed to increase smallholder farmer productivity and resilience to climate change.
BasiGo, an electric bus startup in Kenya, has raised $3 million in a funding round
BasiGo, a Kenyan startup providing electric bus solutions, has received US$3 million in equity capital from CFAO Group to expand its production in Rwanda and Kenya.
Financial backing is provided by CFAO, a business with a presence in more than 40 African nations and the owner of the largest automobile distribution network in Africa.
According to Jit Bhattacharya, CEO of BasiGo and co-founder, “CFAO recognizes the extraordinary opportunity for electric mobility to transform African economies.” BasiGo is a player in the energy and mobility market in Africa.
Akira Wada, managing director of CFAO Kenya, said, “This is the start of a new era, and through this investment, we are not only supporting the growth of the electric vehicle industry but also contributing to the development of a sustainable green energy value chain that will benefit communities across Africa,”.
Formed in 2021 as a joint venture between Kepple Africa Ventures (KAV), a Japanese venture capital firm, and Verod Holdings (Verod), an African growth capital private equity firm, VKAV is led by partners Satoshi Shinada, Ryosuke Yamawaki, and Ory Okolloh.
The VKAV Fund is its first investment vehicle, and will leverage the accumulated knowledge and skills of the two companies to invest in startups across Africa, focusing on early-stage companies that are working to solve social challenges in the region.
Having announced a first close of US$43 million in March 2023, the VKAV Fund has now finally closed at US$60 million, with key institutional investors in the fund including SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, and Japan ICT Fund.
New investors joining the final close include SCM Capital, formerly known as Sterling Capital Markets Limited, from Nigeria and a few additional institutional investors from Japan, including Taiyo Holdings and C2C Global Education Japan.
Innovation Hub 🧠
Women Choice – an international organisation dedicated to advancing women’s personal and professional development – launched its pilot cohort in 2023, while global financial services powerhouse Mastercard has long been at the forefront of providing women with access to digital tools, training, mentorship and networking opportunities.
The two organisations have now expanded their existing partnership to launch two programmes – ImpactHer and EmpowerHer – to support women entrepreneurs in growing their businesses and creating jobs across Africa and the Middle East.
These programmes will offer comprehensive support via training and mentorship for women entrepreneurs and helps them create employment opportunities for other women in their chosen field.
“We are proud to see the successful results of the programme launched in 2023 in collaboration with Mastercard and are excited to see the partnership continuing to grow through 2024. We are now focusing on scaling the impact. Bringing change and improving the situation of women in the workplace and providing support to women-led businesses is a key element to help economies in the Middle East and Africa region grow and further thrive,” said Nezha Alaoui, founder and CEO of Women Choice.
The W24 batch of Y Combinator, which played a role in the early days of companies like Airbnb, Coinbase and Dropbox, among others, W24, kicked off in January, with 246 startups so far having been named as participants.
Known as Tripitaca until a recent rebrand, Triply has secured access to YC’s new standard deal, announced in 2022, through which it invests US$125,000 for seven per cent equity, plus an additional US$375,000 on an uncapped SAFE with “Most Favoured Nation” (MFN) terms.
The accelerator’s alumni features continental royalty such as Flutterwave, Paystack and Kobo360 (not to mention Cowrywise, MarketForce, Kudi, WaystoCap, WorkPay, Healthlane, Trella, 54gene, CredPal, NALA and Breadfast). It occupies an ambiguous position within Africa’s startup ecosystem, but is lauded by entrepreneurs for the positive impact it has on their businesses.
UK company Globeleq, the leading independent power company in Africa, today announced that its Red Sands project in the Northern Cape has been awarded Preferred Bidder status in South Africa’s Energy Storage Capacity Independent Power Producer Procurement Programme (ESIPPPP).
Globeleq is the largest independent power producer in Africa, providing nearly 1,800 MW of energy in South Africa, Mozambique, Kenya, Tanzania, Côte d’Ivoire, Egypt and Cameroon. Globeleq is a UK company based in London and backed entirely with Official Development Assistance (UK aid).
Red Sands will be Globeleq’s first Battery Energy Storage Solutions (BESS) project in South Africa but the Group owns and operates a combined solar and BESS plant at Cuamba in Mozambique, and is developing BESS projects across the African continent. Globeleq also owns and operates 8 renewable plants (6 solar PV, 2 wind) in South Africa with a total generating capacity of 384 MW.
Be in the Know💡
RevUp Women is an initiative dedicated to empowering women entrepreneurs across Africa. Through mentorship, training, and access to resources, RevUp Women provides women with the support they need to start and grow successful businesses, driving economic growth and fostering gender equality.
Hosted by AfriLabs and Visa Foundation, the business showcase featured an awards ceremony, where the top 10 finalists selected via a comprehensive selection process were announced as winners, each receiving a grant of US$10,000.
They were Baby Grubz and Queen Amina Medical Integration from Nigeria, Ecokud and Ziada from Kenya, WaziEats and V’s VitaLife from Cameroon, Mali Food and P.aktion from DRC, and Ndiqala from South Africa.
“Investing in women isn’t just a moral imperative; it’s a strategic decision with far-reaching economic benefits. As we strive for inclusive growth, it’s imperative that we recognise and harness the potential of women as drivers of economic development,” said Nanko Madu, director of programmes at AfriLabs.
Events and Hackathons💻
1.Women in Tech Global Conference 2024
The Women in Tech Conference scheduled from the 23rd - 24th April, aims to bring together once again 100,000 women from all over the world in a primarily virtual conference with satellite in-person events.
The theme for this year’s conference is further expanding on Technology Leadership, Tech Innovation, Career Growth, and how we can make an impact and shape the future together. These topics will be addressed in the form of three virtual and one in-person summit as well as various side events across various locations in North America and Europe.
The two-day event will feature tech professionals, industry innovators, around 8000 WomenTech Network Ambassadors from 172 countries, and more than 700 speakers from all over the world. The conference will feature a lineup of the most renowned executives and C-level women in tech, as well as tech leaders across all levels from companies including Amazon, Google, Meta, Microsoft, and many more.
2.👨💻👩💻Night of Code Byte Battle Challenge
Introducing the Byte Battle Royal Challenge🚀 Weekly Hackathon Series, proudly hosted by our training arm, Code3Camp.
The hackathon is set to be hosted each and every Friday from 5:00PM-5:00AM EAT with an aim of helping developers showcase their skills, collaborate with like-minded individuals, and compete for a grand prize.Join us for the collaborative, coding hackathon and witness brilliant minds come together to solve real world challenges using technology🎉
Lets celebrate as we award the first group of the Byte Battle Challenge💡
⏰5:00 PM
So, here’s what’s in store for you
🔍 Weekly Challenges: Work on real life projects every Friday and showcase your problem-solving prowess.
🏆Prizes and Recognition: Your hard work and creativity deserve to be recognized, therefore after successful completion of a project, the winner receives the grand prize and is featured on our social media channels.
💬 Networking Opportunities: The hackathon isn't just about competition—it's also about building valuable connections. Connect with fellow devs, industry experts and potential collaborators.
Don't miss out on the chance to be a part of the next big thing! Keep an eye on our social media channels and website for updates and registration information.
3.Data Science & AI Meet- Up Event
Code3Camp Academy in partnership with Lux Tech Academy is proud to announce a free physical meet-up event on the 20th of April, 2024 from 11PM-4PM EAT. The event is set to be held in NGENI LABs premises, Lenana Rd, Kilimani.
The event aims to provide an opportunity for enthusiasts to broaden their knowledge, exchange ideas, and network with industry professionals.
🌟Celebrating The Completion of Code3Camp’s Web3 🎓1st Cohort
We are proud to announce the completion of Code3Camp’s web3 1st cohort. We reflect on the incredible journey we've embarked on together. From the inception of the program to the graduation of our esteemed cohort, it's been a testament to the power of community, collaboration, and innovation.
Our web3 training program started with a vision to empower aspiring professionals with the skills, knowledge, and connections needed to thrive in the web3 landscape. Throughout the program, our participants have dived into cutting-edge technologies, understood the meaning of collaboration, and have familiarised themselves with web3 concepts.
As we celebrate the completion of the first cohort, we are excited to announce the launch of the next cohort! Building on the success of our graduates, the next cohort promises even more opportunities for learning, growth, and collaboration. Whether you're a developer looking to upskill in blockchain, a beginner or intermediate who just found their calling in web3, our programme is tailored to meet your needs.
Stay tuned for updates on our socials, including program details, application deadlines, and how you can get involved. ♥ Together, let’s continue to shape the future of Web3 and empower the next generation of innovators ♥
About NGENI LABs
NGENI is Kenya and East Africa's first pure-play and largest Blockchain & Web3 development engineering Studio with a 106-plus-person team. The studio specializes in building digital products with a significant track record in web3, blockchain, fin-tech sectors for startups, corporates and institutions(government-led).
All engineers have successfully taken on complex coding challenges, and hackathons and have ultimately delivered on complex multi-Blockchain applications, bots, and dApps for international projects.
Thanks for reading👌
Contact us: NGENI Linktree