E-Business
VC4Afrcia Reveals 12 Top Tech Start-Ups Building Platforms
Few weeks after they launched their products at DEMO Africa 2014 before investors, media, strategic buyers and others attendants from around the world, VC4Africa has revealed that 12 African tech start-ups are currently building amazing platforms.
VC4Africa has declared that only accredited investors who registered a VC4Africa Pro Account can access the company’s private documents, business plans, financial projections and all other details from the listed ventures’ VC4Africa profiles.
The 12 top tech start ups are as follows:
Cribpark – Nigeria
Cribpark is a web-platform including home design catalogue, web shop, and project management tools for design and construction.
The service can be used also on mobile devices. Funding amount required: USD 250,000
Funding to date: All funds raised for Cribpark so far have been from the founders.
Other requirements: Mentorship, Partnerships, Endorsements
Cube – Nigeria
Cube enables anyone (whether individual or business entity) to accept card payments in person with their phone.
The service also works without internet connection. Funding amount required: About USD 400,000 additional capital.
Funding to date: Approximately USD 100,000
Feedbackplus – Nigeria
Feedbackplus lets customers give feedback to different organizations online or through a mobile app.
It also provides organizations with a platform on which to interact with customers and track their feedback. Funding amount required: USD 200,000.
Funding to date: USD 55,000. Other requirements: Mentoring
Foodstantly – Nigeria
Foodstantly is an online marketplace which provides customers with fresh as well as cooked food and home delivery services. Suppliers benefit by having a Mobile-web platform to set up online shops, accept payments, sell and deliver their products.
Funding amount required: USD 150,000. Funding to date: Personal funding / Bootstrapped
Other requirements: Co-Founder and recruiting more talent
Hutbay – Nigeria
Hutbay is a platform that helps real estate consumers find and share vital information about real estate, mortgages, and agents. The platform also connects users with real estate professionals in Nigeria. Funding amount required: USD 200,000.
Funding to date: USD 32,000 in seed funding & USD 45,000 in startup funding. Other requirements: Mentoring
LocName – Egypt
LocName is an application that gives a short, unique name for your address, which you can share easily in just 2 seconds. Directions to reach your place! Funding amount required: USD 100,000
Funding to date: USD 15,000. Other requirements: Advertising, Partnership in other companies, Mentorship
MobileJobs (powered by SOMTEC) – Ethiopia
MobileJobs provides web and mobile job alert and recruitment services.
The service is designed for a country where many people have limited access to the internet.
Funding amount required: USD 1,000,000. Funding to date: –
MuZik – Cameroon
MuZik is a virtual music streaming service for feature phones.
It provides the user with music or information regarding it, automatically grabbed online.
Funding amount required: USD 23,000, Funding to date: -(unannounced)
Nikweli – Tanzania
Mobile-to-web job matching platform that connects employers and job seekers for lower skill, “blue collar” type positions.
Funding amount required: USD 200,000 over 2 years
Funding to date: USD 20,000 (self-funded)
Other requirements: Completing the management team (technical talent)
Pliby – Benin
Pliby is an online platform for the African music lovers.
The platform is used to discover underground artists, songs and albums. Funding amount required: tbd
Funding to date: – yet to be announced.
TrafficBytes – Egypt
Trafficbytes is a solution that allows mobile operators and telecom vendors to leverage existing big data and provide real time accurate roads traffic information. Funding amount required: USD 200,000
Funding to date: -Other requirements: Business leads with mobile operators & telecom vendors
VOTO Mobile – Ghana
Mobile phone notification and survey platform.
Interactive SMS or voice call service in local languages, help with instantly reaching across distance, language, and literacy barriers.
Funding amount required: Large seed or series A within 6 months. Currently cash flow positive.
Funding to date: USD 100,000
Other requirements: Strategic partners including mobile operators, international development organisations, mobile platform
The VC4Africa Investor Network is the largest network of dedicated SME investors interested in supporting African based ventures.
Registered investors are also able to follow hundreds of other ventures gaining traction in over 40 African markets, network with fellow members, coordinate due diligence, and co-fund deals with fellow investors.
The platform also advised entrepreneurs look out the five steps to fundraising to learn more about fundraising opportunities through VC4Africa.
E-Business
Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups
As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.
The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.
Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.
Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.
He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.
“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.
“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.
With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.
“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.
“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.
On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.
“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.
“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.
Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.
Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.
Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.
E-Business
Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond
Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.
This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.
The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.
Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.
Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”
Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”
Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.
Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.
E-Business
SOPHiA GENETICS Announces Syndicate Bio as First Liquid Biopsy Customer in Africa
SOPHiA GENETICS, a cloud-native software company in the healthcare space and a leader in data-driven medicine, has announced that Nigeria-based Syndicate Bio has signed on to implement MSK-ACCESS® powered with SOPHiA DDM™.
Syndicate Bio is the first lab in Africa to adopt the MSK-ACCESS® assay via the SOPHiA DDM™ Platform, and the first company to make comprehensive genomic profiling and liquid biopsy widely available to patients throughout the entire continent.
The implementation of this new technology will further existing work from SOPHiA GENETICS, Memorial Sloan Kettering Cancer Center (MSK), and Syndicate Bio to advance health equity on a global scale.
There are roughly 1 million new cancer patients each year in Africa and currently, comprehensive genomic profiling and liquid biopsy testing options are not widely available.
This means that patients are forced to forego this testing or travel out of continent for these testing options. Syndicate Bio’s implementation of this new offering will provide cutting-edge liquid biopsy testing to many of these patients and will help progress the company’s goal of advancing genomics and precision medicine in an area of the world that has been historically underserved in these areas.
“Partnering with SOPHiA Genetics to bring MSK-ACCESS® powered with SOPHiA DDM™ to our lab is a monumental step in accelerating the cancer treatment and research landscape across Africa, beginning in Nigeria. Next-generation sequencing technologies in oncology and liquid biopsy, which this collaboration enables, hold the potential for creating a leapfrogging opportunity in the oncology treatment and research landscape in Africa,” said Abasi Ene-Obong, PhD., Founder, Syndicate Bio.
“Through this collaboration, we aim to enable the widespread application of precision medicine in oncology across Africa, and thus contributing to the improvement of patient outcomes across the African continent.
“We believe our scientific expertise, combined with AI-enabled technologies and data-driven solutions enabled by SOPHiA GENETICS, presents a unique opportunity to fundamentally transform the journey of cancer patients through non-invasive cancer analysis, predictive genetic testing, and effective precision medicine.”
Syndicate Bio is driving genomics and precision medicine initiatives across the world’s most diverse regions through large-scale partnerships with governments, industry, and other stakeholders. Through its work, Syndicate Bio is making local impact while accelerating drug discovery and development.
By focusing on Africa, Syndicate Bio is poised to make a significant impact, starting with Nigeria, by introducing its pioneering clinical oncology offerings in an underserved region.
Through this endeavor, Syndicate Bio aims to improve cancer diagnosis and treatment for African patients. This initiative not only facilitates local next-generation sequencing (NGS) testing and liquid biopsy testing but also extends access to clinical trial participation, empowering patients and healthcare providers alike.
MSK-ACCESS® powered with SOPHiA DDM™ is a decentralized version of a highly validated ctDNA test developed by MSK that involves the deep sequencing of 146 key cancer-associated genes, and will augment Syndicate Bio’s tumor profiling capabilities, allowing them to utilize a small blood sample to generate a comprehensive report in an efficient and expedited time frame.
The use of liquid biopsy is less invasive than traditional biopsy, and can help simplify patient monitoring, whilst driving the uptake of precision medicine.
The offering combines the sophisticated analytics, state-of-the-art algorithms, and decentralized, cloud-based offerings of the SOPHiA DDM™ Platform, with the scientific and clinical expertise of MSK in cancer genomics to provide a best-in-class liquid biopsy solution.
“In our mission to democratize data-driven medicine, our decentralized global network and unique set of partnerships enable us to help reach underserved populations, just as those that are served by Syndicate Bio,” said Philippe Menu, MD, PhD., Chief Medical Officer, SOPHiA GENETICS.
“By implementing this solution, Syndicate Bio will make a measurable impact throughout Africa, while also helping to generate an unparalleled and comprehensive dataset and provide invaluable insights and knowledge to shape the future of global healthcare.”
In late 2023, SOPHiA GENETICS and MSK announced they are working in partnership with AstraZeneca to bring the world-class MSK-ACCESS® powered with SOPHiA DDM™ testing solution to countries and regions around the globe, including underserved areas where access to testing remains scarce.
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