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 month’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 startup founders and the breadth of opportunities being seized.
Here’s a closer look at the notable under-the-radar investment activity we’re tracking this month:
- Investment: A $1 million follow-on investment as part of a bridge to Series B funding round.
- Investor(s): HAVAÍC (as lead investor, from its African Innovation Fund 3).
- Sector/Focus: Sportstech. The company provides data and tracking technology for global sports leagues, including the NFL and the English Premier League.
- Country of Operation: South Africa.
- Purpose: To support the company’s continued international expansion and financial growth.
- Investment: A strategic investment of an undisclosed amount.
- Investor(s): 216 Capital.
- Sector/Focus: AI / B2B SaaS. The company is developing a “Sales Performance OS,” an AI-native platform that acts as an intelligent co-pilot to optimize sales team interactions and performance.
- Country of Operation: France and Tunisia.
- Purpose: To accelerate innovation, consolidate its technology, and support its international deployment.
- Investment: A strategic investment of Rs 5,000,000 ($108K)
- Investor(s): Seed Capital.
- Sector/Focus: Adtech. The company provides a local online advertising solution connecting advertisers with audiences on a network of exclusively Mauritian websites, aiming to keep digital ad spend within the local economy.
- Country of Operation: Mauritius.
- Purpose: To improve its technology, grow its team, strengthen its market share, and prepare for regional expansion.
- Investment: $1.23 million in debt financing.
- Investor(s): Spark+ Africa Fund.
- Sector/Focus: Clean Energy / Cleantech. The company is a Liquefied Petroleum Gas (LPG) distributor providing clean cooking solutions through a hybrid model and a Pay-As-You-Go smart metering platform called “EaziGas.”
- Country of Operation: Ghana.
- Purpose: To support its expansion under Ghana’s Cylinder Recirculation Model (CRM) and accelerate the country’s transition to cleaner cooking fuels.