Madica, an Africa-focused early-stage investment firm, has invested $800,000 in four startups as part of its efforts to support high-growth businesses. This move aligns with a broader trend of investors prioritizing startups with strong revenue potential, following a 9% share of total venture funding going to early-stage African startups in 2024.
The four startups receiving $200,000 each are Medikea (Tanzania), Motherbeing (Egypt), Pixii Motors (Tunisia), and ToumAI (Morocco). These companies operate in healthtech, femtech, e-mobility, and AI-powered analytics, respectively. Alongside funding, they will benefit from mentorship and immersion trips to key global tech ecosystems.
This latest investment expands Madica’s footprint into North Africa, adding to its previous focus on Southern and West Africa. The firm, launched by Flourish Ventures in 2022, has now invested $1.6 million in eight startups and plans to deploy $6 million across 30 startups by 2025.
Read the full news here: TechCabal