Companies · Kenya · Retrospective
How Gro Intelligence shut down amid financial headwinds
Gro Intelligence’s funding challenges and the events leading to its closure.
Category
General
Reporting filed under General.
Showing 1–20 of 38 articles
Energy & mobility · Ghana · Profile
Inside Kofa’s battery-swapping network in Ghana
A look at the Ghanaian company’s portable batteries and swap-station network.
Energy & mobility · Kenya · Profile
The journey of Mark Mwangi’s Amitruck on rough terrain
A profile of the logistics marketplace and its approach to freight transport in Kenya.
Companies · Nigeria
How Jumia and Jiji responded to Temu’s arrival in Nigeria
The established marketplaces respond to Temu’s discount-led strategy in Nigeria.
Energy & mobility · Africa
CrossBoundary Energy raises $45 million for renewable energy projects across Africa
The clean-power company secured financing from EAAIF for commercial and industrial renewable energy projects.
Funding
LoftyInc Capital Lands $43 Million To Help African Startups Navigate Series A Funding Gaps
Coming off the back of this success, LoftyInc launched a second funding round in 2021, with $10 million set as a target. However, it was able to raise $14.2 million, with which it broadened its geographical scope beyond Nigerian borders, spreading to South Africa, Francophone Africa, and Egypt.
Funding
Kholo Capital Secures $76 Million For South African SMEs
Kholo Capital will turn its searchlights on investments of about $3.8 million to $10.9 million in SMEs that have demonstrated a minimum EBITDA of R25 million ($1.4 million USD).
Funding
PI Ventures Closes First Institutional Fund, Raises $50 Million to Back Next-Gen African Startups
This fact is reflected by its co-investment with Accel in Nuitee, a Moroccan AI-powered hotel booking platform, marking P1’s biggest investment till date.
Funding
Egypt-based MNT Halan Sets Sails For $500 Million In Credit Expansion After Key Acquisitions
Since ascending to unicorn status in 2024, the company has pulled off a series of strategic acquisition and market entries herald MNT-Halan’s plans to create a space for itself in the emerging finance industry.
Startups
Swvl Recalls Former Chief Financial Officer Amidst Financial Headwinds
Mr. Misbah’s previous tenure at Swvl saw him play an instrumental role in ensuring the company listed on Nasdaq through a Special Purpose Acquisition Company (SPAC) transaction, combined with a $4.7 million private placement, and securing sustainable finance with HSBC.
M&A
Waves of Change: Senegal’s Largest E-Ticketing System Now Controlled By FinTech Unicorn Wave
Wave accounts for 90% of the adult population with a Wave account. The company achieved unicorn status in 2021 after raising $200 million in Series A funding, becoming the first French-speaking African unicorn.
Funding
Swedfund Supports African Infrastructure Fund With $41.6 Million Investment, Aims To Promote Climate Action
EAAIF is a blended finance channel that supports infrastructure projects through public and private debt capital. The fund provides debt products on commercial terms to projects belonging to, and operated, by private sector experts.
Funding
DisruptTech Ventures Takes First Step Into Blockchain, Invests in Hamilton.
This deal marks a pivotal moment for DisrupTech Ventures, as it indicates a willingness to diversify its portfolio beyond traditional fintech to include blockchain-based solutions.
Funding
Maxula Gestion Kicks Off Fresh Funding Round For Tunisian Startups
The funding is in step with Maxula Gestion’s broader ambition to inject fresh life into Tunisia’s sports sector through innovative ideas.
Funding
China’s Gotion Joins Morocco EV Fray, Invests €128 Million
Gotion’s new facility will have an initial production capacity of 20 gigawatt hours (GWh), with a potential to expand to 100 GWh.
Startups
Egypt’s SWVL Draws Plans Beyond 2028 Amid Bankruptcy Claims
The mobility company has scheduled its Annual Meeting of Shareholders for January 30, 2025. This meeting will set the stage for critical decisions about Swvl’s future.
Startups
Tingo Group Folds Up, Listed For Sale In Shocking Conclusion To Its Operations
According to local reports, Tingo Mobile, which serves as the fintech arm of the group, had already cut ties with contractors earlier in the year.
Startups
Alibaba Sets Foot In Morocco, Allows Local Retailers Expand Global Reach
Morocco’s diverse industries, high-quality products, and strategic location make it an ideal partner for this expansion.”
Funding
Proparco Backs Equator Africa Fund With $5M To Support Climate-Focused African Startups
The Equator Africa Fund has its headquarters in Nairobi and Lagos, using the local expertise in conjunction with global best practices to support startups with a potential to bring transformation.
Funding
Sanari Capital Raises $80M Africa-Focused Fund, Targets Technology-Driven Growth
Sanari Capital focuses on mid-market investments, majorly serving founder-run, owner-managed, and family-owned businesses.