Seven African tech startups have secured backing from the US$2 million Jua Fund, which will also provide them with mentorship and advisory support.
Three enterprises from Kenya, two from Nigeria, one from Madagascar and one from Zimbabwe are the recipients of the inaugural $2m Jua Fund, the largest African venture capital fund by a private individual.
Bryt-Knowledge (Zimbabwe), GrowAgric (Kenya), Jirogasy (Madagascar), Powerstove Energy (Nigeria), Side (Kenya), Whispa Health (Nigeria) and Xetova (Kenya) all agreed to deals with the fund after a weeklong “Kickstarter Olympics” where they pitched their ideas to a high-profile panel of judges.
The final deal closure and disbursement will be contingent on the enterprises passing a due diligence and other agreed terms and conditions.
The fund will provide equity to the enterprises, mentorship and advisory support, and connect them with investors.
THE SUCCESSFUL RECIPIENTS
Bryt-Knowledge, Zimbabwe: a multifaceted online educational platform that connects students with subject matter experts
GrowAgric, Kenya: a crowd-farming platform that connects farmers to working capital, allowing them to scale and meet market demand while delivering profitability to themselves and their sponsors
Jirogasy, Madagascar: a company that manufactures, assembles and designs solar home systems and communication systems
Powerstove Energy, Nigeria: a company that uses advanced technology to deliver a superior smokeless, IoT-enabled cookstove that generates electricity
Side, Kenya: an e-commerce distribution channel that leverages the power of “community” or “group buying” to provide goods to end customers more cheaply
Whispa Health Limited, Nigeria: a mobile app that provides young people with non-judgmental access to sexual and reproductive health information, products and services
Xetova, Kenya: a technology solutions provider to the procurement ecosystem.
