The Flip

This startup is building an AI voice you can understand. And they just raised $1.6 million, led by Microtraction, to scale their goal. Here are more details on Intron Health's recent raise:

Today's episode of The Flip, from the streets of Lagos ⬇️

We asked 6000+ founders this question, and their responses might surprise you. Drop yours in the comment section 👇🏻 ---- Want more insights and stories from entrepreneurs around the continent, to help make building a little bit easier? Subscribe to our newsletter: https://lnkd.in/dFw3dXe #startups #founders #venturecapital

Mercury shutting down accounts from a select few countries raises the question of risk - is it actual or perceived? Last year, I asked Aigboje Aig-Imoukhuede, Chairman of Access Holdings, this question about the perceived risk of African countries. Here's what he had to say... (I've left the link to the full episode of The Flip in the comments below)

Last week, 9 African startups raised $432.95m. A staggering 976% increase from the previous week. See all the details on our funding tracker for week 29 (July 15th - 21st, 2024): 9/ Momint Momint is an NFT-based social platform for sharing photos and videos. ∙ Amount raised: $50k ∙ Lead investor: DFINITY ∙ Location: South Africa ∙ Type of investment: Grant 8/ Logidoo Logidoo is a digital platform that connects African markets through smart logistics. ∙ Amount raised: $50k ∙ Lead investor: IDRC ∙ Location: Morocco ∙ Type of investment: Grant 7/ TurnStay TurnStay offers a local payment experience by charging customers in their home currency and using familiar payment methods when they book accommodation. ∙ Amount raised: $300k ∙ Lead investor: DFS Lab & Digital Currency Group ∙ Location: South Africa ∙ Type of investment: Equity financing 6/ Bio-Logical Bio-Logical creates carbon removal projects using nature to combat climate change in Africa, addressing extreme temperature rise, droughts, soil degradation, and failed harvests. ∙ Amount raised: $1.3m ∙ Lead investor: CrossBoundary, Redshaw Advisors, et al. ∙ Location: Kenya ∙ Type of investment: Equity financing 5/ Uncover Uncover is a marketplace for skin care products. The company uses data from the app to create customized skin care products with labs in South Korea based on user data through quizzes, etc. ∙ Amount raised: $1.4m ∙ Lead investor: EQ2 Ventures and IgniteXL Ventures. ∙ Location: Kenya ∙ Type of investment: Equity financing 4/ dopay Dopay offers a virtual banking platform that digitizes cash payments from employers to workers and other beneficiaries. ∙ Amount raised: $13.5m ∙ Lead investor: Argentem Creek Partners. ∙ Location: Egypt ∙ Type of investment: Equity financing 3/ TerraPay TerraPay is a mobile-first payment service that allows anyone, anywhere, to send money to a mobile number instantly. ∙ Amount raised: $95m ∙ Lead investor: International Finance Corporation (IFC), ILX, and the British International Investment (BII). ∙ Location: UK ∙ Type of investment: Debt financing 2/ MNT-Halan MNT-Halan lends to single small business owners or individuals who need lending to manage their businesses. ∙ Amount raised: $157.5m ∙ Lead investor: International Finance Corporation (IFC). ∙ Location: Egypt ∙ Type of investment: Equity financing 1/ d.light d.light provides affordable, quality, verified solar lighting and entertainment solutions for low-income households. ∙ Amount raised: $176m ∙ Lead investor: African Frontier Capital. ∙ Location: Uganda ∙ Type of investment: Debt financing Want more insights and stories from entrepreneurs around the continent, to help make building a little bit easier? Subscribe to our newsletter: https://lnkd.in/dFw3dXe

CNBC’s World’s Top 250 FinTech Companies (2024) featured 7 African startups. Here they are (and everything you need to know):

$40,225,000! That's how much two African startups raised last week. Here's the funding tracker for week 28 (July 8th - 14th, 2024): 2/ BasiGo Rwanda BasiGo is an electric bus company that leases electric buses to local bus owners. - Amount raised: $225k - Lead investor: Ireme Invest - Location: Rwanda 1/ NALA NALA enables people and businesses to make cross-border payments between the USA, UK, and Europe to Africa. - Amount raised: $40 million - Lead investor: Acrew Capital - Location: Tanzania Want more insights and stories from entrepreneurs around the continent, to help make building a little bit easier? Subscribe to our newsletter: https://lnkd.in/dFw3dXe

This female-led startup just raised $1.4 million. They've also raised $100,000 pre-seed from Antler VC in 2021 and $1 million in a 2022 seed round. Here's everything we could gather about Uncover's (founded by Sneha Mehta, CFA and Jade Oyateru, MBA) latest funding round:

Funding for the fintech sector in Africa dropped 74% in H1 2024 compared to H1 2023, despite remaining the top-funded sector. Where do you think investor appetite is shifting, and why? A) Agritech B) Logistics C) Cleantech D) Healthtech

Fundraising for African startups in H2 of 2024 may be off to a strong start. Because NALA a Tanzanian fintech company, recently announced raising $40 million in a Series A round. According to TechCrunch, this is one of the largest Series A transactions in Africa. Here’s everything we could gather about Nala's $40 million Series A: