Startup Updates

Mira Cosmetics and Skincare, a Cairo-based startup, has clinched a substantial $200,000 investment from Wingoo Investment and Technology. This strategic move follows Mira's successful launch of its first locally produced beauty product in late 2023.

Maxula Gestion, through its seed fund, Startup Maxula Seed Fund, has forged a partnership with the innovative startup "Tunisian Identity Online." The injection of funds will empower the startup to finalize its development phase and execute a robust marketing strategy for a successful market entry.

Redcity, a proptech startup based in Oyo, secured victory and the coveted N2 million prize at the annual Niproptech N2 million proptech "Pitch2Win" competition renowned for providing a platform for innovators to address critical proptech challenges and drive progress.

Safaricom, M-PESA Africa, and Sumitomo Corporation, a Fortune 500 global trading and business investment company, have unveiled the Spark Accelerator program, a collaborative initiative that will provide tech startups with the mentorship, funding, and go-to-market support to accelerate their growth.

The total funding raised by African startups in 2023 reached an impressive $3.2 billion, with Kenya securing its dominance by raising $800 million. This remarkable achievement represented 28% of the total funding in Africa, showcasing Kenya's resilience and strategic appeal for startup investments.