Launches Fundraising Guidebook to Assist First-Time African Founders in Elevating Pre-Seed Capital
Madica, a structured funding program centered on pre-seed African startups, has introduced new investments in three technology-driven firms: Kilimo Recent, Hakimu, and Biovana. These additions replicate Madica’s ongoing dedication to backing founders and ventures which might be typically ignored by conventional enterprise capital.
Every startup will obtain funding of as much as $200,000 and take part in Madica’s 18-month help program. This system features a custom-made curriculum, hands-on mentorship, govt teaching, and two totally funded immersion journeys to key tech ecosystems each inside Africa and internationally. Founders will even acquire entry to Madica’s world community of buyers to help their long-term progress.
By supporting underrepresented founders, startups from underserved areas, and companies working in less-funded sectors, Madica goals to handle the imbalance in Africa’s enterprise funding panorama, which is usually concentrated in just a few markets and amongst well-connected entrepreneurs. This system seeks to foster extra inclusive and distributed progress throughout the continent.
Based in 2022, Madica is a sector-agnostic initiative designed to sort out structural challenges inside Africa’s startup ecosystem. It addresses limitations akin to restricted entry to capital, a scarcity of energetic buyers, and inadequate mentorship alternatives. By structured help, this system helps early-stage startups overcome key hurdles and drive innovation, entrepreneurship, and financial progress.
The chosen startups, drawn from candidates throughout Africa, provide technology-based options in fast-growing sectors:
Kilimo Recent (Tanzania), co-founded by Baraka Chijenga and Justice Mangu, connects smallholder farmers to city markets by aggregating, processing, and distributing contemporary produce by means of a technology-enabled provide chain, serving to to cut back meals waste.
Hakimu (Kenya), co-founded by Rawan Dareer, Ahmed Ahmed, and Ahmed Elbashir, is creating a pan-African authorized infrastructure powered by synthetic intelligence.
Biovana (Nigeria), co-founded by Estelle Dogbo and Dr. Jumi Popoola, is an information harmonization and certification platform designed to unlock African well being datasets for world pharmaceutical, AI, and scientific analysis use.
Commenting on the brand new portfolio firms, Emmanuel Adegboye, Head of Madica, stated, “Every new funding brings us nearer to the portfolio we got down to construct, one which displays the complete breadth and variety of African entrepreneurship. These three startups be part of a rising neighborhood of founders we’re backing with the assets, relationships, and runway they should succeed at this early stage. The chance throughout the continent is gigantic, and we’re dedicated to being an important and constant companion in realising it.”
“Becoming a member of the Madica portfolio is a big second for Hakimu. We’re revolutionising entry to justice throughout Africa, and having a companion that understands the particular challenges and alternatives of scaling in Africa makes an actual distinction,” stated Rawan Dareer, co-founder and CEO of Hakimu. “We’re grateful for the belief, trying ahead to the hands-on help, and clear-eyed concerning the work forward.”
As a part of its mission to advertise extra equitable progress, Madica has additionally launched the primary version of its fundraising guidebook sequence, Zero to Funded: A Founder’s Information to Pre-Seed Fundraising in Africa. This 75-page useful resource is designed to assist early-stage African founders navigate their first fundraising course of, notably these with out entry to robust networks, accelerators, or prior expertise.
The information addresses widespread misconceptions that may hinder early investor conversations, explains how you can consider whether or not elevating enterprise capital is the fitting path, and descriptions how you can steadiness native market realities with world investor expectations. It additionally consists of sensible instruments, templates, and checklists to help founders all through their fundraising journey.
Madica has moreover appointed Tauriq Brown as a mentor. A seasoned enterprise builder and former CEO of TooMuchWiFi—one in every of Africa’s fastest-growing web infrastructure firms—he brings intensive expertise from roles at Rocket Web and Mountain Companions. He’ll present founders with sensible, execution-focused steerage to help scaling efforts.
According to its pan-African mandate, Madica continues to hunt new funding alternatives throughout the continent. Startups curious about making use of can go to the Madica web site. Eligible firms should have a minimal viable product (MVP), early traction with paying clients, full-time founders, minimal or no institutional funding, and be headquartered in Africa.
The Madica staff and its portfolio firms will convene in Morocco from April 6 to 13 for an immersion journey held alongside Gitex Africa. This system will embody expert-led periods, hands-on workshops on funding readiness, organizational improvement, and staff constructing, in addition to alternatives to attach with buyers, clients, and ecosystem companions.
About Madica
Established in 2022, Madica is an Africa-focused pre-seed funding program supporting underrepresented, mission-driven founders. The platform is sector-agnostic and affiliated with Flourish Ventures, with a mission to empower entrepreneurs by means of funding and improved entry to world-class company-building help.
Supply: Madica.
Photograph credit score: Madica.
