In a bid to secure funding ranging from $500,000 to $15 million, ten innovative African startups are gearing up to pitch their ventures to investors and industry experts at the upcoming Africa Tech Summit scheduled for February 14th and 15th in Nairobi.
The event has garnered significant attention, with over 250 entries received by the organizers. The final selection of startups spans diverse sectors, including fintech, agritech, e-commerce, Web3, and climate-tech, offering a glimpse into the continent’s entrepreneurial landscape.
- Slump in Startup Funding in 2023 Despite Record-Breaking 2022
The backdrop of the event is the sobering reality that startup funding on the continent experienced a noticeable slowdown in 2023 compared to the record-breaking year of 2022. According to Africa: The Big Deal, a curated funding database, African startups witnessed a 39% drop in funding, plummeting from $4.6 billion in 2022 to $2.9 billion in 2023. The Africa Tech Summit’s investment showcase emerges as a strategic platform for the ten selected startups to garner the crucial capital required for their growth trajectory.
- Node Bio: Kenyan Climatetech Trailblazer with Farmchef Innovation
Among the ten startups set to pitch is Node Bio, a Kenyan climatetech startup, presenting its cutting-edge plant science solution, Farmchef. Designed to combat the adverse effects of climate change, Farmchef empowers plants to withstand drought, extreme heat, and other water-related stressors. Node Bio’s innovative approach positions them as pioneers in the quest for sustainable agricultural solutions.
- Valu: Egyptian Fintech Powerhouse in MENA with BNPL Offering
Valu, a leading Egyptian Buy Now Pay Later (BNPL) fintech platform operating in the MENA region, is poised to showcase its comprehensive financial solutions for customers and businesses. Positioned as a lifestyle-enabling platform, Valu seeks to revolutionize financial transactions in the region, providing convenient and flexible payment options.
- Bingtellar: Nigerian Crypto Startup Simplifying Global Payments
Nigerian crypto startup Bingtellar aims to redefine global payments by building robust payment infrastructure. With a focus on serving global citizens, including freelancers, remote workers, contractors, and businesses, Bingtellar’s ramp product simplifies the buying and selling of cryptocurrencies and facilitates swift money transfers across the African continent.
- Dukka: Digitizing Payments for Small Businesses in Africa
Dukka, a Nigerian startup, is on a mission to digitize payments and bookkeeping solutions. Targeting small businesses across Africa, Dukka’s innovative approach aims to streamline financial transactions by enabling businesses to accept a wide range of digital payment methods, fostering financial inclusion on the continent.
- FutureLink Technologies: Ugandan Startup Simplifying Financial Access
Ugandan startup FutureLink Technologies is set to showcase its digital marketplace, simplifying financial access for individuals and facilitating payments for financial cooperatives. With a focus on providing seamless financial solutions, FutureLink Technologies aims to bridge the gap in financial services for both individuals and cooperatives in Uganda.
- Tausi App: Kenyan Beauty Tech Linking Beauticians and Customers
Kenyan beauty tech company Tausi App leverages technology to connect beauticians with potential customers. With over 6000 registered beauticians, Tausi App’s innovative platform is positioned to transform the beauty industry by leveraging technology to enhance accessibility and convenience for both professionals and customers.
- Feegor: Nigerian B2B E-commerce Connecting SMEs
Nigerian startup Feegor is making waves in the B2B e-commerce space by connecting small and medium enterprises (SMEs) with manufacturers and major wholesalers. The platform aims to facilitate efficient and transparent transactions, fostering growth for SMEs in Nigeria and beyond.
10. Peercarbon: Kenyan Climate Fintech Empowering SMEs
Peercarbon, a Kenyan climate fintech startup, stands out with its focus on leveraging granular emissions data and sustainable finance technology. Through its Software as a Service (SaaS) platform, Peercarbon empowers African SMEs by providing real-time insights to help businesses track and mitigate their carbon footprint, contributing to a more sustainable future.
11. Regxta and URBANET: Nigerian Fintech and Kenyan Governance Innovators
The final two startups, Regxta and URBANET, represent the diverse range of innovation on display. Regxta, a Nigerian fintech startup, aims to make financial services accessible to underserved communities and micro-businesses across Africa. Meanwhile, URBANET, a Kenyan startup, promotes international dialogue on development activities worldwide, offering insights on municipal and local governance, sustainable urban development, and decentralization. The Africa Tech Summit promises an exciting platform for these startups to present their visions and secure vital funding for their impactful initiatives.