In this week’s deals digest funding rounds in Africa leaned towards real estate, construction and energy. On the other hand, Edtech takes the lead in venture deals in emerging markets.
Top Venture Deals in Africa
South Africa’s Broadreach raised $25 million in a Series B funding led by private equity fund manager Mertier. The provider of installation and maintenance services for heating, ventilation and air conditioning (HVAC) will use the investment to scale its renewable energy strategy for commercial, industrial and small scale users.
Kenya’s Solarise Africa raised $4.7 million from Proparco, ElectriFi and energy Access ventures. The company will use the investment to expand into other countries in the continent as it seeks a larger market share. Currently, SOlarise has operations in Kenya, South Africa, and Rwanda, where it provides energy leasing services and solar financing solutions.
HouseMe, a property management solution for rental properties raised an undisclosed investment, planning to capitalise the growing interest in online platforms for long term letting.
South Africa’s Realtors Roundr, a mobile-based solution for real estate agents and Egypt’s Isqan, an online listing platform for residential and commercial properties also raised undisclosed amounts this week.s
Top venture Deals in Emerging Markets
Byju’s added $500 million on last week’s $122 million, pushing its valuation to $10.8 billion. The funding for the Edtech platform was led by Tiger Global Management, Owl ventures, Silver Lake and General Atlantic.
Unacademy, another Indian EdTech raised $150 million from SoftBank, Facebook, Blume Ventures and three other investors. The Series F funding pushed its valuation to $1.45 billion.
Brazil’s Fintech Neon bank raised $ 300 million in Series C funding to support hiring, push its tech capabilities and product development. The funding round, split into two tranches, was led by General Atlantic, Vulcan Capital, Paypal and five other investors.
Top Venture Deals Globally
QuantumSpace US raised $500 million from fidelity Investments, Prelude Ventures and two other investors. The maker for Soldi state battery technology for electric vehicles plans to go public through a special purpose acquisition company with Kensington Capital Acquisition Corp.
Ticket Monster (TMON), a South Korea based online retailer for multicategory products raised $336.5 million in exchangeable bonds in pre-IPO funding from local private equity fund in exchange for between 20% to 30% stake.
Click here to download the full summary of deals for the week.
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Weekly Deals Digest: Aug 26th – Sep. 1st 2020
