Two of Africa’s most successful seed investment companies, 88mph and L5Lab are teaming up to invest in the best mobile and Internet startups out of Nigeria, TechLoy has learnt.
One of Africa’s leading mobile social marketplaces, MoboFree has raised a significant undisclosed growth funding from Netherlands-based eVentures Africa Fund (eVA Fund), with participation from Million Monkeys, a seed investment company based in the Netherlands. MoboFree’s co-founder and CEO, Neringa Kudarauskiene says the recent funding would help the company expand its local presence in Lagos and Accra,…
In a bid to empower the next generation of developers and entrepreneurs in the continent, Microsoft has awarded five African start-ups across Kenya, Uganda and Nigeria with innovation grants, through its 4Afrika initiative launched last year.
Lagos has been chosen to host about 100 investors and entrepreneurs from within and outside Africa at the inaugural Angel Fair West Africa come March 30th & 31st, where entrepreneurs would meet investors in order to ‘do deals’.
Tourbly, a MEST-backed startup that connects tourists with friendly and reliable tour guides in hundreds of tourist destinations worldwide, has emerged one of the regional winners of the 2013 Google Cloud Developer Challenge.
San Francisco-based Heirs Holdings, the pan-African proprietary investment company founded by former United Bank for Africa Group CEO, Tony Elumelu, has announced an undisclosed investment in US start-up Planet Labs.
SOLO, a new mobile phone brand that brings local digital content like music, movies and games to your palm has secured its “Series A” funding round from Adlevo Capital and Kuramo Capital.
The discussions and conversations that follow this meeting could lead to impactful growth within the African technology ecosystem.
It is no longer news that Africa’s technology sector which has been overlooked for years is gradually gaining a lot of interest and attention from foreign investors and the global technology media.
You may have heard the unconfirmed report that Konga reportedly raised $25 million additional round of funding from its partners — Sweden’s Kinnevik and South Africa’s Naspers.
Just about a year since it raised $10 million in Series B and Series C funding from US-based Tiger Global and Sweden-based Kinnevik, iROKOtv, the world’s largest distributor of African movie content online has secured an additional round of $8 million.
When two of Africa’s leading players in the classified ads space teamed up last year to build what has now become the largest online classifieds entity in the continent, it was only time before it got attention from global investors and international media. Today, SEEK, the largest jobs site in Australia announced that it has…
Silvertree Capital, a South African-based company builder and venture capital investor focused on the African market has announced it has made an undisclosed investment into two of Nigeria’s leading e-commerce sites, Sunlasses.com.ng and Glamour.com.ng
As it celebrates its first year anniversary today, Nigeria’s largest online retailer, JUMIA is moving into its 90,000 square foot warehouse located in Ogba, Ikeja, Lagos, just a month after it raised $35 million in funding from Millicom.
Startups looking to raise money from global investors by selling ownership shares in their companies can now do so through the Startup Stock Exchange, a regulated global public marketplace for startup investing pre-launched last July. The world’s first online stock exchange for startup investing and funding will open its marketplace on June 10, 2013 allowing…
Former Google Policy Manager for sub-Saharan Africa, Ory Okolloh has joined Omidyar Network, a philanthropic investment firm founded by eBay founder, Pierre Omidyar, as a Director of Investments within the organisation’s government transparency initiative.
By now, it is no longer news that SPARK is putting $1 million into local Internet start-ups this year in what can be described as the most audacious bet on the early-stage Nigerian Internet space. But as the news gradually filters through the fabric of the tech ecosystem, Techloy has exclusively learnt (after a tip-off from…
After it signed an agreement with Rocket Internet to jointly develop franchises in the online sector in Latin America and Africa in a €340 million deal last August, Millicom, a global telecommunications group with mobile telephony operations in 13 countries in Latin America and Africa has invested an additional €35 million in Rocket’s operations in Africa.
Jumia, arguably, Africa’s largest e-commerce retailer has received $26 million (USD) in funding from Summit Partners, a $15 billion growth equity firm that invests in rapidly growing companies.
MIH Internet Africa, a subsidiary of South African media group, Naspers is said to be in talks to either acquire or invest into one of Nigeria’s leading e-commerce sites, a reliable source has revealed to TechLoy.