Madica, the pan-African investment programme backed by Flourish Ventures, has expanded its portfolio with two artificial intelligence startups, Anavid from Tunisia and Hypeo AI from Morocco, each securing up to $200,000 in pre-seed funding.
The companies will also join Madica’s intensive 18-month support programme, designed to help early-stage founders build scalable, investment-ready businesses.
Madica is seeking to close Africa’s funding gap by backing founders and startups usually overlooked by traditional venture capital.
Since launching in 2022, the programme has focused on entrepreneurs from underrepresented regions and industries, providing capital and the kind of mentorship as well as structure that can make or break early ventures.
Both startups bring artificial intelligence into real-world African contexts. Anavid, founded by Ahmed Chaari and David Nilsson, uses AI to integrate with retail surveillance systems, reducing theft losses and improving in-store experience.
Hypeo AI, led by Meriam Bessa and Salah Eddine Mimouni, provides a software solution that automates influencer marketing, from brand matching to campaign payments.
For Madica, these investments will help enhance innovation, which is also thriving across Africa, not just in a few well-known hubs.
“At Madica, we believe and continue to prove that some of the world’s most transformative ideas come from places that are too often ignored,” said Emmanuel Adegboye, head of Madica. “The founders we’ve just welcomed are visionaries, building solutions with the power to uplift communities and shape industries. We’re proud to stand with them as they take on the next stage of their journey.”
For the founders, the partnership provides access to Madica’s growing investor network, business coaching, and two fully funded immersion trips to leading tech ecosystems both within and outside Africa.
These trips, part of Madica’s structured learning model, give founders a platform to engage directly with investors, mentors, and other founders solving similar challenges.
Speaking on Hypeo AI’s mission, Meriam Bessa, the company’s co-founder and CEO, said, “Our region is rapidly growing with creative energy, but without the right digital backbone, it often goes untapped. We’re changing that by using AI to reimagine how brands and creators find each other, collaborate, and thrive. Backing by Madica will help us strengthen our AI capabilities to achieve this goal.”
Madica has also partnered with the African Business Angel Network (ABAN) to expand deal flow and co-investment opportunities for its portfolio companies. The collaboration, unveiled at the ABAN Congress in Lagos, aims to improve access to local capital and connect angel investors with institutional partners.
According to Yemi Keri, President of ABAN, “The future of Africa’s innovation economy depends on how effectively we can mobilise local capital and empower local investors. Our collaboration with Madica helps bridge the gap between angel investors and institutional capital, ensuring that more funding comes from within the continent, and that startups everywhere in Africa can access the right type of support to scale.”
Madica’s portfolio already includes a mix of standout startups such as Medikea, Daleela, Pixii Motors, and ToumAI, with a strong focus on gender diversity and regional inclusion.
Its model combines funding with hands-on learning, helping founders refine governance, growth strategy, and personal well-being, areas often neglected in early-stage business building.
To date, Madica has continued to scout for new investment opportunities across the continent. Eligible startups must have a minimum viable product (MVP), ideally with paying customers, and be led by full-time African founders with limited prior institutional backing.
The team recently participated in Moonshot by TechCabal in Lagos and is heading to Big Angels Day Africa in Dakar this October, part of its approach to meet founders where they are, and to bring early-stage capital closer to the people shaping Africa’s digital future.
