Nairobi-based accelerator The Baobab Network has announced $50,000 in funding for five African startups. The companies, which are located in Kenya, Morocco, Togo, Nigeria, and Guinea Conakry, will also receive mentorship and connections to investors and experts.
The five startups are:
- Afrigility is an e-commerce and software-developed platform that seeks to offer comprehensive and easy-to-use warehousing solutions. Its digital ecosystem aims to cater to customers across the country with live inventory and tracking that is cost-effective.
- Colis is a tech logistics venture that specializes in the transport and delivery of technology-related products. Customers can use its advanced tracking systems to monitor shipments and acquire real-time updates.
- Easy Chain is an agritech platform that seeks to empower middle-income earners to generate money by funding, providing access to markets for smallholder poultry farmers, and remotely investing in poultry farms without directly operating in them. Leveraging technology, individuals can be advised and acquire input credits in the dynamic market from the comfort of their phones.
- e-Poultry is an agritech platform that aims to modernize African agriculture, nature sustainability, and foster prosperity for small-scale poultry farmers. The platform provides access to markets, funding, and input credits to help poultry farmers grow their businesses.
- MuduPay enables individuals from underdeveloped areas to conveniently make online payments, and receive and send money across Sub-Saharan Africa from their mobile phones. The platform provides a secure and convenient way for people to send and receive money, even if they do not have access to traditional banking services.
The Baobab Network head of ventures Christine Namara said the accelerator aims to create an impact in the African ecosystem by investing in innovative ventures within the continent.
“With this incredible cohort of startups we see creative, passionate innovation that seeks to solve the pressing challenges facing African communities,” Namara said. “It is truly inspiring to witness the power of Africa.”
The Baobab Network has been accelerating startups with capacity building and fundraising since 2019. The accelerator has a portfolio of over 50 startups and has helped them raise over $10 million in funding.
The five startups that received funding from The Baobab Network are all working to solve some of the most pressing challenges facing Africa. Afrigility is addressing the need for efficient and affordable warehousing solutions, Colis is providing reliable and affordable delivery services, Easy Chain is helping to modernize agriculture, e-Poultry is providing access to markets and funding for poultry farmers, and MuduPay is making it easier for people to send and receive money.
These startups are just a few examples of the innovative and impactful work that is being done by entrepreneurs across Africa.