Caleb Maru

Breaking News!!! ASEB Welcomes Simon T. to Advisory Board We are thrilled to announce that Simon Turner has joined the Advisory Board of the Africa Startup Ecosystem Builders Summit and Awards (ASEB). Simon brings over 20 years of experience in entrepreneurship, innovation, and strategy to the ASEB Advisory Board. As a Founding Partner of The Groundbreaking Org, he is dedicated to fostering entrepreneurial breakthroughs in frontier markets. Simon also leads the Ghana chapter of the Founder Institute, the world's largest pre-seed accelerator. His extensive background includes: *A decade of service in the Royal Australian Air Force *Experience as a proptech founder *Director at MEST (Meltwater Entrepreneurial School of Technology) *Founding Executive Director of the UK's Challenges Group & Challenges Worldwide in Ghana *Regular judge and mentor on TV shows "The McDan Entrepreneurship Challenge" and "The Circular Economy Competition" *Ambassador for the City of Berlin With nearly a decade of living in Ghana and working across Africa, Simon has been instrumental in supporting promising startups across various sectors. His expertise lies in helping entrepreneurs build credibility, generate revenue, gain traction, and access global networks and opportunities. Simon's current projects include collaborations with the Africa Startup Academy, Ghana Institute of Management and Public Administration (GIMPA), and initiatives in Frontier Entrepreneurship. We are confident that Simon's wealth of experience and passion for nurturing entrepreneurial ecosystems will greatly contribute to the mission and vision of ASEB. His insights will be invaluable as we continue to support and celebrate startup ecosystem builders across Africa. Important ASEB Updates: *Award Nominations Extended: The deadline for ASEB Awards nominations has been extended to July 21, 2024. *Complete Your Applications: For those who have been nominated, please ensure you complete your application form before the new deadline. *Nominate Deserving Ecosystem Builders: If you know of ecosystem builders across Africa doing amazing work, we encourage you to nominate them. *Self-nominations are also welcome and encouraged. *Nomination Link: To submit nominations, please visit: https://lnkd.in/dvcmTUMS *Collaboration Opportunities: ASEB is open for collaborations and partnerships for this year's event and beyond. Event Details: The ASEB Summit and Awards will take place in Accra, Ghana from October 2-4, 2024. We look forward to recognizing and celebrating the outstanding contributions of startup ecosystem builders across Africa. Join us in this exciting opportunity to showcase and support African entrepreneurship! Wish to get involve? collaborations or partnerships, or the event, please visit our website or contact our team directly. Join us in welcoming Simon Turner to the ASEB Advisory Board and take part in this year's ASEB Summit and Awards! McKevin Ayaba #ASEB2024

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Securing pre-seed investment in Africa can be challenging due to various factors. Two areas of focus for founders are typically (and should be): 1. Building a solid founding team; and 2. Focussing on traction 1. Build a Solid Team: Typically a business idea is developed by one person (usually entrepreneurially inclined). You have to be open to invite people with relevant skills and experience (and who you get along with) to join you as co-founders. Investors often invest in the team as much as the idea. NB: Get a solid finance person to join from the start if you can. Please! 2. Focus on Traction: Even in the early stages, strive to generate traction by acquiring users, customers, or partners. This kind of early market validation through traction can instill confidence in investors and increase the attractiveness of your startup. So, if you have a solid team with proven traction within a growing market - these are strong signals - most pre-seed investors looking into your sector would give you a serious look. Would you add anything here that can help? #preseedinvestments #earlystagecapital #venturecapital #angelinvestors #startups #africanstartups #founders #startupecosystem #startuptraction

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Twiva, Kenyan Growth Stage Startup - among the Top 20 chosen to pitch to a sea of Venture Capitalists, at Africa's coveted Angel Fair Africa 2024. This year's participants scale from the South to East and West of Africa. Twiva is Kenya's leading AI-driven #socialcommerce platform, powered by #influencers and #resellers to bring brands closer to consumers across the continent. Established to revolutionize retail, Twiva connects businesses to a vast network of over 13,500 influencers and 2,500 merchants, generating genuine engagement and driving sales through trusted recommendations. In just five years, Twiva has gained the trust of hundreds of thousands of unique monthly visitors, positioning itself as a fast-growing solution that enhances #marketaccess, #jobcreation, and #salesconversion for businesses in industries ranging from fashion and electronics to home and beauty. With a proven record of #awardwinningpartnerships and an expanding presence in the region, Twiva is not just driving #commercialgrowth but is building a more #inclusive, #digitalretailecosystem for Africa's future To greater scale, and indelible reach. #BuildingTheAfricaWeWant

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👇Exciting update ahead!👇 In September, our Pears Challenge: Validate cohort of early-stage startups returned from a powerful two-week field validation trip to Kenya. For each of these founders, this wasn’t just a trip—it was a hands-on immersion, a chance to step into the heart of East Africa’s market, and an opportunity to meet the people whose needs they’re aiming to serve. From Nairobi’s bustling hubs to insights from local communities, each day offered valuable lessons that can only be learned on the ground. In this video, you’ll get a glimpse into what they experienced: the insights they gained and the partnerships they started building. Through this journey, they moved closer to validating and refining their solutions, turning ideas into real, impactful innovations that matter for financial inclusion in East Africa. A big thank you to our incredible partners (especially to Barak Granot, Tanya Ogwel and the Israel Economic and Trade Mission to Kenya team), and everyone who made this trip possible. Your support allows us to create these transformative experiences that push our founders to new levels of understanding, resilience, and growth. Hagit Freud 🎗Yonatan Bukhdruker Roni Levy David Mendelbaum Ron Yakir Ariel Resnik, Eran Yaniv, Shatha Kabaha, Itamar Wilf, Dr. Ron Adany, Vadim Nave, Benjamin Pileggi, Ofer Atzmon, Eddie Nevoani CrediBility, Coinnect wallet, RiceUp, Crafts of Africa, SafeCoin, MultiKol Amit Grabovski, Loop Pet Food, HomeBiogas Kenya, Daniel Mungai, Ishai Ben Or, Avenews, Africa Fintech Summit, Charles Isidi

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🚀 #FundingAlert — Kenya-based climate tech startup Octavia Carbon has secured $3.9 million in a seed funding round co-led by Lateral Frontiers VC and E4EAfrica, with participation from Catalyst Fund and Launch Africa Ventures. The startup also raised $1.1 million through advance sales of carbon credits. Founded in 2021 by Martin Freimüller and Duncan Kariuki, Octavia Carbon leverages Direct Air Capture (DAC) technology to remove CO2 from the atmosphere, with the goal of scaling its capacity to 1,500 tonnes annually by 2025. The new funding will be used to expand Octavia's carbon capture operations and collaborate with Cella Mineral Storage to inject captured carbon into volcanic rock, forming stable minerals like limestone. For more information, check out the news: 🔗 https://lnkd.in/gm86gjy8 ━━━━━━━━━━━━━━━━ #FundingNews #ClimateTech #CarbonCapture #OctaviaCarbon #DirectAirCapture #Sustainability #Kenya #ClimateAction #AfricaTech #CleanEnergy #TechInnovation #MEA

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South African 🇿🇦 startup scale has raised $700K in pre-seed funding to expand into Kenya 🇰🇪, Zambia 🇿🇲, and Côte d'Ivoire 🇨🇮. The round was led by 54 Collective, First Circle Capital, with support from Sunny Side Venture Partners and angel investors. 💬 Founded by Barbara WOOLLAMS and Miranda Perumal, Scale simplifies the card issuance process for fintechs and businesses, helping them launch card products quickly across Africa. CEO Miranda Perumal said the funding validates Scale’s mission to drive fintech growth and offer tailored payment solutions. 🌍 As fintech in Africa is projected to reach $65 billion by 2030, Scale is positioned to play a crucial role in solving critical payment challenges. The company’s Card-as-a-Service platform drastically reduces the time to launch card products—from 18 months to just a few weeks—allowing African fintechs and corporates to introduce card services with speed and efficiency. Read more: https://lnkd.in/dTB-8Zvt ✨Stay in the know! For the latest African news and insights, follow our WhatsApp channel - https://lnkd.in/ddAsW5S4 and never miss an update! 🌍📲 #Africa #SouthAfrica #Startups #Fintech #Funding 

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Check out the latest episode of “The month in VC”, our regular deep-dive into Africa’s investment space. Produced in partnership with Atlantica Ventures VC Fund, each episode wraps up the latest news in African VC, profiles a leading investor, and digs into a key theme or trend in conversation with partner VCs. The latest episode sees us speak to Zachariah George from Launch Africa Ventures, and we’ll also be discussing how we can go about getting more Africa-based investors - be they angels or institutions - backing African tech startups. https://lnkd.in/dGiuKbuq

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🚀 Exciting News: The First Startup Map of Tanzania is Coming Tomorrow! 🇹🇿 Attention all innovators, investors, and ecosystem enthusiasts! Tomorrow, we're unveiling something extraordinary: The First Startup Map of Tanzania showcasing a total of 150 startup ventures in Tanzania! 🎉 Subscribers, of cofounders notebook, will have exclusive access to this comprehensive startups map which showcases 150 innovative ventures across fintech, IoT, AI, healthcare, energy, food, agritech and edtech. 😏 It also provides insights into key investors, grantors, and accelerators backing these ventures. Plus, discover the primary regulators for licensed ventures, and see the nature of founders/leaders, including if they are locals or female. 💼👩‍💼 Click here to Subscribe to our newsletter: https://lnkd.in/e8H3rGPR Haven't subscribed yet? Now's your chance to click the link above ! Join our newsletter to ensure you're among the first to receive this resource directly in your inbox. 📧 But wait, there's more! For those who aren't subscribers, don't worry! The first startup map of Tanzania will be shared here on LinkedIn sometimes later. 🌟 Stay tuned and Don't miss out on this opportunity to explore Tanzania's vibrant startup ecosystem! 🎉💡 United Nations Capital Development Fund (UNCDF), WeeTracker, Nation Media Group, TechCabal, TechCrunch, Nation Media Group, Founders Tanzania, Africa Fintech Network, Tanzania Fintech Association (TAFINA) #FirstStartupMapofTanzania #Startups #Entrepreneurship #Ecosystem

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The Finance Bill 2024 is a DISASTER for our tech ecosystem. From crippling digital asset taxes to punitive measures on startups, this bill is nothing short of an attack on Kenya's digital future. I've just published a detailed breakdown of how this bill will strangle innovation, kill startups, and set our tech scene back by years. If you're in tech, this affects YOU. Read, share, and let's fight back. We can't let bureaucrats who don't understand technology destroy what we've built. It's time to stand up for Kenyan innovation. Read the full blog post here and join the resistance! 👉🏾 https://lnkd.in/dRHnMB4N #RejectFinanceBill2024

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What’s shaping South Africa’s startup landscape? This week Briter was invited to the Africa Early Stage Investor Summit Investor Ecosystem Engagement at 22 ON SLOANE in partnerships with VC4A and Wesgro. We shared insights on the three trends shaping the #SouthAfrica's #startup #ecosystem: 🛣️ Diverging paths: South Africa’s startup ecosystem has been more resilient over the last two years compared to the Rest of Africa which has seen a bigger decrease in funding with the growth between Seed and Series A stage being particularly squeezed.  🚂 Dual engines of growth: A major driver of South Africa’s resilience is its dual engines of ecosystem growth with #Gauteng and the #WesternCape which have accounted for nearly 20% of the total funding to startups in Africa over the last decade. 🏦 More than FinTech: While #FinTech has accounted for the majority of late stage deals in Gauteng, the Western Cape has attracted a higher share of funding beyond FinTech into a range of sectors including #Health and #BioTech, #AgTech, #Gaming, #Ecommerce and #Logistics with notable deals into startups like Clickatell Luno Aerobotics Skynamo LifeQ, Inc. Carry1st. A big thank you to Vincent Hoogduijn Russel Brueton Zinhle Mncube Ayanda Siboto and Azra Fredericks for including us in the event! #AESIS2024 Access the presentation below 👇

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🚀 Last month we had a pitch from Expendo, a Nairobi-based startup revolutionizing mobility for gig workers! Expendo's innovative logistics marketplace offers discounted finance, insurance, spare parts, and fuel, reducing costs and stabilizing incomes. "Our goal is to reduce mobility costs for logistics gig workers across Africa, starting with key markets like Kenya and Nigeria." - Michael Wambugu, CEO. Interested in learning more about Expendo and their current fundraise? You can read all about it here: https://bit.ly/3Vt9rtv #MobilityInnovation #GigEconomy #AfricanStartups #ExpendoMobility

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Great to speak on the UKTN podcast speaking on our work at Openseed VC backing experienced operators, and talking about the incredible potential of European and African ecosystem. There is a growing pipeline of experienced operators starting their technology companies across both regions -- this is the focus for Openseed VC On the podcast, we talk about AI, emerging technology trends, the importance of talent, liquidity, impact of policy on the entrepreneurship ecosystem and many more! I also speak about the incredible growth opportunity that is the #African continent - tough macro climate yes -- but we believe difficulty is the flip side of opportunity to create value. There will be an incredible crop of experienced operators who choose to solve difficult, impactful and commercially viable problems. At Openseed VC we want to be your launch partner if this sounds like you! Got questions, we've got answers on www.openseed.vc/faq A huge thanks to the UKTN team for having me! #OpenseedVC #UKTN #Europe #Africa https://lnkd.in/eAH9ZbNM

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OpenseedVC, an early-stage VC firm that was launched in 2024, has reached the first close of its $10 million fund for early-stage startups across Africa and Europe.  https://lnkd.in/durQ3KFi This is OpenseedVC’s first fund and will be used to back founders with domain expertise. OpenseedVC prioritises founders who demonstrate a clear understanding of the market they are entering and have the skills to navigate the challenges and opportunities it presents. The London-headquartered VC firm will invest up to $150,000 in startups across B2B software, artificial intelligence, fintech, digital health, and the future of work. The firm has already invested in two undisclosed artificial intelligence startups in Nigeria and the UK. Get more details 👇 https://lnkd.in/durQ3KFi

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The Ugandan startup ecosystem has seen significant growth from 2019 to 2024, with 16 startups raising at least $1 million in funding. The total funding amount reached $150.06 million, averaging $6.52 million per startup. Key players include Tugende and Asaak , each securing over $34 million across seven funding rounds. The Financial Services sector led investments, driven by a large unbanked population and mobile money adoption, while the Renewable Energy sector also attracted considerable funding, addressing Uganda's energy access challenges. Notable startups like Numida (YC W22) and Grainpulse Limited showcased the potential for substantial investments, with Numida raising $15.1 million and Grainpulse securing $11 million in single rounds. The Healthcare sector is represented by Rocket Health , which raised $5.2 million, reflecting growing interest in enhancing healthcare access. The boda boda economy has also influenced startup growth, with several companies addressing transportation needs in Uganda. https://lnkd.in/gHMpDnrV

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So we started Cohort 3 of the Immerse Africa VC Fellowship by Immerse Africa VC Academy last weekend. It was a diverse class with people from different backgrounds. This cohort has a fine blend of startup CFOs who want to know how to navigate the VC landscape for the benefit of their company and VC Professionals who just want to get better at their job. As always, we started this cohort with the VC Business Model. Understanding how VCs think about deals and then we built our VC Fund Return Model and the Management Company Model. As always, we saw that VCs are looking for outsized returns. 3x returns are good, but what you're looking for is 30x or 50x. So the challenge for our VC professionals is that how do they identify the 30x return startups and more importantly founders or founding teams? The question for our startup CFOs - Is your startup the 30x return startup? On Sunday, we went in full time on the the language of finance - Accounting. This is as we prepare to start building our startup financial models from next weekend. Excited about this cohort... already. If you still want to join this cohort, this might be your time before the next class.

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"It's not a matter of choosing between local and global; it's about building solutions that can thrive in both." Thanks to WeeTracker and Henry Nzekwe for discussing and highlighting the exciting journey of African startups going global with me. I proudly shared approaches adopted by Ingressive Capital in supporting our portfolio companies in building world-class companies. The article features the success stories of our portfolio companies (+ Exits) including: Bamboo which just announced expansion to Canada Paystack whose early strategic focus on infrastructure laid the groundwork for international success and made them attractive for international acquisition as well as fast-growing businesses like Mono and Carry1st. We dove into the challenges and opportunities for founders looking to expand internationally, and why a strong local foundation is key to success. Check out the article to learn more about building for the world!

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🎙️ New Podcast Alert! WT Founder, Nayantara Jha sits down with Zachariah George, Managing Partner of Launch Africa Ventures, to discuss the performance and learnings of LAV Seed Fund 1 portfolio. With USD 31M invested in 133 companies across 22 countries in Seed Fund I Portfolio, this is an episode you don't want to miss! Watch the full video here: https://lnkd.in/gtkWaqMS #WeetrackerPodcast #LaunchAfricaVentures

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