Madica, a pan-African investment initiative backed by Flourish Ventures, has announced a fresh $400,000 investment aimed at fueling the growth of early-stage artificial intelligence (AI) startups in North Africa. The move underscores Madica’s mission to empower founders across underserved African markets while fostering collaboration with the continent’s expanding network of angel investors.
The investment, which will be spread across several early-stage AI ventures in Egypt, Morocco, and Tunisia, seeks to bridge the funding gap for promising but undercapitalized startups in the region. According to Madica, the initiative targets AI-driven solutions tackling real-world problems in sectors such as financial inclusion, agriculture, logistics, and healthcare.
Speaking on the development, Madica’s Program Lead, Emmanuel Adegboye, noted that North Africa’s emerging AI ecosystem presents vast potential but remains constrained by limited access to early-stage capital and mentorship. “We’re seeing a surge of technical talent and innovative founders across North Africa. Our goal is to back them early, provide hands-on support, and connect them to the right networks to accelerate growth,” he said.
Beyond the financial injection, Madica is also intensifying its collaboration with angel investors across Africa through co-investment programs, mentorship networks, and capacity-building workshops. The firm aims to strengthen local investment ecosystems by equipping angels with the tools and knowledge to identify and support high-impact startups.
The initiative comes at a time when Africa’s AI landscape is gaining global attention. Recent research projects that the continent’s AI market could surpass $6 billion by 2030, driven by advancements in language models, data analytics, and automation technologies. Yet, challenges such as data scarcity, limited computing infrastructure, and a shortage of early-stage investors continue to hinder progress.
Madica’s new push in North Africa follows its earlier investments in startups across West and East Africa, reaffirming its pan-African strategy. By combining capital, mentorship, and ecosystem partnerships, the firm hopes to nurture the next generation of AI-driven innovators who can build scalable, inclusive solutions from the continent for the world.
With this latest commitment, Madica is positioning itself not just as an investor but as a long-term partner in Africa’s AI future—one focused on sustainable impact, regional collaboration, and inclusive growth.
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