The Baobab Network, an accelerator in Nairobi that supports early-stage technology companies throughout Africa, has recently made five new investments, expanding its portfolio to 35 companies.
The new cohort consists of businesses in Tanzania, Nigeria, and Kenya, awarded $50,000 in funding. The Baobab Network is enthusiastic about this latest development.
The selected five startups for investment are;
- •Medikea (Tanzania) is a telemedicine platform with a patient-centric approach that provides patients with complete control and flexibility through on-demand consultations, in-home testing, and diagnostics. It allows individuals to conveniently access healthcare services, save time, and reduce expenses.
- •Vutia (Kenya) is a marketplace for cosmetic, beauty, and personal care products operating on a B2B model. It facilitates the connection between small-scale retailers and leading brands and suppliers smoothly and seamlessly.
- •Tripitaca (Kenya), this technology firm, is creating a platform similar to Shopify, which incorporates financing for the 26 million small and medium-sized travel businesses in Africa. By using this platform, lodging providers can enhance their earnings by enhancing occupancy rates and obtaining an operating system and cost-effective financial services.
- •Messenger (Nigeria) is a last-mile service in Nigeria that caters to clients in various cities by offering complete logistics and supply chain solutions.
- •Swahilies (Tanzania) is an SME book-keeping platform that allows SMEs to record their transactions (sales, spending, debts), manage their businesses, and send and receive payments.
Every company was granted a sum of $50,000 in addition to a tailored program of venture support led by experts. During the demo day, they were allowed to connect with prominent angel investors and venture capitalists from Africa and across the globe.
We are really proud of this cohort. Each team is made of excellent executors who are trying to solve big problems within their markets. We have seen their ability to make exponential progress in a short amount of time and we think that with our support and funding, they are now ready to scale rapidly.
Wanjiku Kimani – Admissions lead at The Baobab Network
Christine Namara, the Head of Ventures for The Baobab Network, expressed her admiration for African founders’ talent, vision, and determination. She has observed significant growth and investor interest among the cohort, underscoring their dedication and hard work.
Read Also: Startup Wise Guys Secures €25 Million to Invest in Overlooked Markets
