Madica invests about $600,000 in three African tech start-ups

In a move aimed at driving inclusivity and innovation across the African continent, Madica has invested up to $600,000 in three African tech start-ups, with each receiving $200,000 as pre-seed funding. Emmanuel Adegboye, the Head of Madica, revealed that the first set of investment targets founders that have been majorly overlooked by investors, focusing on sectors, geographies, genders, and founder profiles that are often perceived as too risky by global investors. Madica's strategy is to diversify the pool of funded start-ups on the continent by investing in founders building fundamentally strong businesses outside the typical profile that attracts most investments in Africa. By supporting founders who are underrepresented in the current funding landscape, such as female founders and those from underfunded ecosystems, Madica aims to attract different kinds of capital to the continent. The three start-ups selected for investment showcase this commitment to inclusivity and innovation. Collar Market from Ghana, founded by Marie Rains, assists SMEs in enhancing sales. Gobeba from Kenya focuses on direct-to-customer e-commerce platforms, streamlining purchases of bulky essential utilities. New Form from South Africa introduces innovative solutions to the market. To ensure the growth and long-term viability of these start-ups, Madica employs a unique program that includes an 18-month post-investment support system. This system offers personalized curriculum, hands-on mentorship, access to networks through immersion trips, executive coaching, and connections to a broad network of investors. The goal is to provide founders with the resources needed to bridge the funding gap, support them in scaling their businesses, and laying a solid foundation for sustainable growth. The startup funding landscape in 2021 is expected to be shaped by a focus on sustainability, emerging technologies, diversity, and alternative funding models. Madica's investment in these African tech start-ups aligns with these trends, setting a precedent for inclusive investment practices that drive innovation and growth on the continent.