While the spotlight often shines on headline-grabbing mega-rounds, the bedrock of Africa’s rapidly growing startup ecosystem lies in the consistent flow of smaller (or missed bigger rounds), yet equally vital, investments. This week’s edition of the African Startup Deal Tracker delves into these under-the-radar transactions, encompassing pre-seed funding, angel investments, and strategic acquisitions that collectively paint a picture of sustained growth and investor confidence across the continent. These deals, spanning diverse sectors from agri-tech to legal tech, highlight the ingenuity of African entrepreneurs and the breadth of opportunities being seized.

Here’s a closer look at the notable under-the-radar investment activity we’re tracking this week:

Grinta (Egypt)

• Sector: HealthTech, Fintech
• Description: Grinta is an Egyptian fintech-enabled B2B tech platform digitizing the pharmaceutical supply chain by connecting independent pharmacies with a wide range of pharmaceutical and medical products. The platform also provides services such as fulfillment, demand planning, and inventory financing.
• Investment Details: Grinta has secured an undisclosed amount of strategic investment in a funding round led by Beltone Venture Capital and Raed Ventures. Simultaneously, Grinta has acquired Citi Clinic, a primary healthcare service chain in Egypt. This acquisition marks Grinta’s entry into the care sector, aiming to integrate online and offline healthcare solutions.

COVA (Cameroon)

• Sector: Insurtech
• Description: COVA is a Cameroonian insurtech startup focused on French-speaking Africa. The company leverages technology, innovation, and partnerships to facilitate the distribution of insurance in Cameroon and sub-Saharan Africa, aiming to create a sustainable financial ecosystem and protect populations from financial shocks.
• Investment Details: Fuzé by Digital Africa, has invested in COVA. This investment will support COVA’s mission to make insurance more accessible through digital technology across sub-Saharan Africa.

Suplyd (Egypt)

• Sector: FoodTech, E-commerce
• Description: Suplyd is an Egyptian digital platform that optimizes the process between suppliers and restaurants. The platform offers a digital marketplace, automated ordering, digital transaction records, payment options, logistics optimization, and online support, enabling businesses to streamline procurement and gain real-time analytics.
• Investment Details: Suplyd has received an undisclosed investment from 4DX Ventures. The funding will likely support Suplyd’s efforts to further optimize its platform and expand its reach within the Egyptian food and beverage industry.

D-SAP (Tunisia)

• Sector: Industrial Technology, Artificial Intelligence
• Description: D-SAP (Data System Analysis Platform) is a Tunisian startup developing an industrial platform that utilizes artificial intelligence for research and production optimization. The platform offers data collection and management, visualization, analysis, and advanced search capabilities to enhance efficiency and decision-making in industrial processes.
• Investment Details: D-SAP has raised an undisclosed pre-seed round with investment from Smart Capital, Digital Africa, Business France Tunisie, INNOVACT, incubateur de startups à Reims, Quest for change, La French Tech Est, Bpifrance, Open Startup. The company, which has already seen its technology deployed in the wine industry through a partnership with Italian industrial equipment manufacturer Della Toffola, aims to combine algorithms and human intelligence for Industry 5.0 advancements.

Anchor Machines (Uganda)

• Sector: Construction Technology
• Description: Anchor Machines is a Ugandan startup that has developed a web and mobile-based application for hiring construction machines. The platform aims to streamline the process of sourcing construction equipment, providing clients with a dependable intermediary.
• Investment Details: Anchor Machines has received an undisclosed investment from Fuzé (Digital Africa). The funding will likely support the growth and expansion of its digital platform within the Ugandan construction sector.

ShareCARD (Uganda)

• Sector: Technology for Development
• Description: ShareCARD is a Ugandan startup operating a program monitoring technology designed to track and monitor the implementation of development projects. The platform offers real-time data tracking, data entry services, collection and verification technology, and project management tools.
• Investment Details: ShareCARD has received an undisclosed investment. The funding will likely support the further development and deployment of its program monitoring technology to optimize resources and inform decision-making in development initiatives.

To submit information on deals not listed on our African Startup Deal Tracker, please contact us at support@launchbaseafrica.com

Editor’s Note:

Tracker closed for the week at 10:10 AM (GMT+1).