Nairobi-based accelerator The Baobab Community invests $25k in 5 new African startups

The Baobab Community, a Nairobi-based accelerator that invests in early-stage tech corporations throughout Africa, has introduced its newest cohort of 5 investees, every of which secures US$25,000 in funding. 

The Baobab Community has been accelerating startups with capability constructing and fundraising since 2019, and now helps 25 startups in 11 nations after making 5 additional investments as a part of a brand new mannequin. The latest cohort joined a three-month intensive development programme at the start of March. 

“We felt now was the best time to launch our cohort funding mannequin, as the standard of corporations that we see in our pipeline has improved dramatically since we first began investing in 2019,” mentioned Arthur Chupeau, head of ventures at The Baobab Community.

“We now see over 1,500 candidates annually, and up to now 24 months we’ve processed functions from corporations in additional than 50 African nations – so our model attain lately is big. Our objective is to be the popular accomplice for each entrepreneur in Africa that wishes to lift their first cheque.”

Three of the investees have been from Nigeria, specifically Sidebrief, which helps African corporations construct throughout borders by streamlining legals, incorporation, firm admin, banking and regulation by way of their APIs; Lendha, a full-stack, tech-led lending platform; and GoodTalent, a expertise market for corporations to crowdsource, display, rent and pay engineering abilities globally, for full-time, distant, and contract roles.

Additionally chosen have been Egypt’s Opus Analytics, which is constructing HR and folks analytics software program for SMEs and corporates within the MENA area and past; and Zambia’s Mighty Finance, a lending platform for SMEs.

The 5 new corporations, who every obtained US$25,000 in funding and an intense programme of development assist, be a part of 20 different startups that The Baobab Community has invested in because it launched its accelerator in 2019. 

“Alongside our funding, we see our core position as an accelerator as being to assist founders navigate these robust early months of scaling their enterprise; attending to product market match, iterating their product and constructing income traction. We work intently with founders to organize them for a much bigger seed spherical inside 6-12 months of becoming a member of us,” mentioned Wanjiku Kimani, a enterprise accomplice at The Baobab Community.

Startups within the cohort will pitch at a web based demo day early June, which buyers can register for right here. Purposes are actually open for The Baobab Community’s subsequent cohort, which kicks off in June 2022.

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