Nairobi-based accelerator The Baobab Community invests $200,000 in 4 African start-ups
The Baobab Community (TBN), a Nairobi-based accelerator that invests in early-stage tech corporations throughout Africa, has introduced its newest cohort of 4 startups, every of which is able to obtain $50,000 USD in funding and development help.
The cohort consists of startups from Nigeria, Ethiopia and two from South Africa. Oval Interactive, a Nigerian interactive martech platform, permits folks to earn and be taught whereas offering manufacturers with a possibility to have interaction with customers beneath their flagship product Trivia Billionia.
From South Africa, Lemon is a platform enabling companies to buy industrial provides with ease, and Native Information is a traveltech supporting digital travellers to discover Africa and enrich the lives of locals.
Ethiopia’s Shemach, a market making it simpler for small retailers in Ethiopia to order, warehouse and pay for stock, wraps up the cohort.
Talking on the cohort, Christine Namara, programme lead at TBN, said: “Our corporations have gone on to boost greater than $50m in follow-on funding since we first launched our accelerator in 2019, so the mannequin is unquestionably working.”
The cohort joins 25 different startups that The Baobab Community has invested in because it launched its accelerator in 2019, together with 5 from the primary cohort earlier this yr.
The accelerator has additionally opened functions for Cohort 1,2023.