Baobab Community Doubles Its Tickets To $100,000 As Y-Combinator (YC) Pulls Again From Africa

Baobab Community, an early-stage investor and accelerator that backs expertise corporations throughout Africa, has introduced plans to spend money on 1000 corporations between now and 2033 offering $100,000 in funding for every firm that goes via its 12-week accelerator program.

Having launched their accelerator in 2019, Baobab has constantly been one of the lively buyers throughout Africa, backing regionally led corporations from day one designed to set every enterprise up for scale.

Saying their newest 5 investments, Toby Hanington (Co-founder, Baobab) stated they now have the platform to dramatically scale the variety of investments they overview and execute throughout Africa.

Baobab’s new cohort contains Brandrive, PocketFood and Bunce (all Nigeria), in addition to Kawu (Uganda) & Alal (Senegal). Every firm has acquired $50,000 immediately from Baobab, with one other $50,000 funding from their newly launched Co-Funding Automobile.

YC retreating, and different market dynamics behind Baobab’s bullishness

Africa has not been proof against world market dynamics, however Baobab continues to be one of the lively pre-seed buyers in Africa. Baobab Community has already accomplished 10 offers this yr, with one other bigger cohort anticipated in This fall.

Moreover, Baobab not too long ago employed Niama El Bassunie as Managing Associate – a YC alumni and certainly one of Africa’s exited entrepreneur to drive its progress on the continent.

Launched in 2016, and primarily based out of workplaces in Nairobi, Lagos and London, Baobab is a sector and geographically agnostic investor inside Africa, and entrepreneurs that be a part of Baobab’s accelerator obtain $100,000 USD in funding in addition to entry to a world community of companions and co-investors. Baobab’s imaginative and prescient is to construct a multi-product funding enterprise, investing in 1000 startups in Africa over the following 10 years.

Morocco-based logistics startup Colis.ma not too long ago acquired $50,000 from Kenya’s The Baobab Community as a part of its accelerator programme. In September 2022, its 4 investees secured $50,000 USD in funding every. They included Nigeria’s Oval Interactive, an interactive MarTech platform enabling individuals to earn and be taught whereas offering manufacturers with a possibility to interact with shoppers below their flagship product Trivia Billionia. Two South African start-ups, Lemon, a platform enabling companies to buy industrial provides with ease,  and Native Information, a TravelTech supporting digital travellers to discover Africa and enrich the lives of locals and Shemach, a market making it simpler for small retailers in Ethiopia to order, warehouse and pay for stock. 

In Might 2022, Baobab’s cohort of 5 investees acquired US$25,000 every. They included Nigeria’s Sidebrief, which helps African corporations construct throughout borders by streamlining legals, incorporation, firm admin, banking and regulation via their APIs; Lendha, a full-stack, tech-led lending platform; and GoodTalent, a expertise market for corporations to crowdsource, display screen, rent and pay engineering skills globally, for full-time, distant, and contract roles. Additionally chosen had 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.

Different startups that acquired $50,000 USD capital injection from Baobab embrace Kenya’s Afrigility, which is revolutionising East African logistics with its novel asset-light expertise, providing B2B e-commerce fulfilment and on-demand warehousing options. Togo’s Eazy Chain previously Togo Cargo, which gives an built-in logistics resolution providing air, sea, and highway freight providers, facilitating seamless cargo transportation. Nigeria’s ePoultry, an agriculture market providing poultry farmers enter credit, advisory providers, and a dynamic B2B market to eradicate systemic inefficiencies by leveraging information from its +1000 farmers and Guinea Conakry’s MuduPay, a platform that permits Africans to maneuver cash through on-line funds from anyplace utilizing their world-class expertise tech stack.

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