The three startups include Kilimo Fresh, Hakimu, and Biovana. These investments further reinforce Madica’s commitment to supporting founders and startups often excluded from traditional venture funding.

Each company has secured up to $200,000 in funding and will take part in Madica’s 18-month program. This includes a tailored curriculum, hands-on mentorship, executive coaching, and two fully funded immersion trips to key technology ecosystems, both locally and internationally.

The startups will also gain access to Madica’s global investor network, helping position them for growth and long-term success.

By backing a mix of underrepresented founders, startups from underserved regions, and innovators in overlooked sectors, the program seeks to counter the concentration of Africa’s tech funding in a few markets, verticals, and well-networked entrepreneurs and instead drive more equitable growth across the continent.

Launched in 2022, Madica is a sector-agnostic investment program designed to address structural gaps in Africa’s startup ecosystem. The program tackles key challenges startups face, such as limited access to capital, a scarcity of investors, and insufficient mentorship. It also provides the structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.

The selected startups, chosen from applications across Africa, provide tech-driven solutions in rapidly growing and expanding sectors.

They include:

• Kilimo Fresh (Tanzania), co-founded by Baraka Chijenga and Justice Mangu, connects smallholder farmers in Tanzania to reliable urban markets by aggregating, processing, and distributing fresh produce through a technology-enabled supply chain, aiming to reduce food waste.

• Hakimu (Kenya), Hakimu, co-founded by Rawan Dareer, Ahmed Ahmed and Ahmed Elbashir is building a pan-African legal infrastructure leveraging the power of AI.

• Biovana (Nigeria), co-founded by two female founders, Estelle Dogbo and Jumi Popoola, is a data harmonisation and certification platform focused on unlocking African health datasets for global pharmaceutical, AI, and clinical research applications.

Commenting on the new portfolio companies, Emmanuel Adegboye, head of Madica, said,

“Each new investment brings us closer to the portfolio we set out to build, one that reflects the full breadth and diversity of African entrepreneurship. These three startups join a growing community of founders we’re backing with the resources, relationships, and runway they need to succeed at this early stage. The opportunity across the continent is enormous, and we’re committed to being a crucial and consistent partner in realising it.”

“Joining the Madica portfolio is a significant moment for Hakimu. We’re revolutionising access to justice across Africa, and having a partner that understands the specific challenges and opportunities of scaling in Africa makes a real difference,” said Rawan Dareer, co-founder and CEO of Hakimu. “We’re grateful for the trust, looking forward to the hands-on support, and clear-eyed about the work ahead.”

As part of its effort to drive more equitable growth across the continent, Madica has released the first edition of its fundraising guidebook series, Zero to Funded: A Founder’s Guide to Pre-Seed Fundraising in Africa.

The 75-page guide is designed as a practical resource for early-stage African founders navigating their first raise, often without access to strong networks, accelerators, or prior fundraising experience.

It covers key areas such as common myths that can derail early investor conversations, how to decide whether to raise funding by understanding the realities and trade-offs of venture capital, and how to balance local market dynamics with global investor expectations.

The guide also includes practical toolkits, templates, and checklists that founders can use directly in their fundraising journey.

Madica has also appointed Tauriq Brown as a mentor. A seasoned venture builder and former CEO of TooMuchWiFi, one of Africa’s fastest-growing internet infrastructure companies, he brings extensive experience in scaling high-growth businesses through roles at Rocket Internet and Mountain Partners. He will support founders with practical, execution-focused insights to accelerate growth.

In line with its mandate and to further consolidate its pan-African reach, Madica continues to seek opportunities to invest across the continent.

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.

The selected startups—Medikea from Tanzania, Motherbeing from Egypt, Pixii Motors from Tunisia, and ToumAI from Morocco—will receive a combined $800,000 in pre-seed funding. Each company will receive $200,000, along with mentorship and opportunities for global networking.

Madica’s latest investments include a diverse range of industries, from healthcare and artificial intelligence to e-mobility.

• Medikea (Tanzania) – A healthtech startup providing instant access to healthcare services through its first-line clinics, aimed at bridging the gap in medical care accessibility.

• Motherbeing (Egypt) – A chat-based healthcare platform designed to support nursing mothers by providing timely and expert health-related guidance.

• Pixii Motors (Tunisia) – An e-mobility startup focused on developing electric motorcycles with swappable batteries, offering an innovative solution for urban transportation.

• ToumAI (Morocco) – A technology firm leveraging AI-powered voice analytics to help businesses extract key insights from customer interactions.

With this latest funding round, Madica has now invested $1.6 million across eight startups since its launch in 2022. The firm, backed by global venture capital firm Flourish Ventures, aims to support 30 African startups with $6 million by 2025.

Speaking on the new investments, Emmanuel Adegboye, head of Madica, revealed that the company set out to build a portfolio with at least 50% gender diversity in their leadership teams. “We are currently exceeding that goal in addition to a significant portion of our portfolio having female CEOs.”

This is the first time Madica is investing in North African startups, having previously focused on Southern and West Africa. Its earlier investments include startups like NewForm Foods, Kola Market, GoBeba, and Earthbond, which operate in quick commerce, food-tech, renewable energy, and B2B e-commerce.

With investments in high-growth sectors such as healthtech, AI, and e-mobility, Madica plans to help Africa’s innovation ecosystem scale up. The firm’s structured investment approach, which combines capital with hands-on mentorship and global immersion opportunities, aims to enable these startups to thrive on a path to long-term success.

Following the investment, Earthbond will participate in Madica’s comprehensive investment program which includes 18 months of dedicated company-building support. 

Launched in 2022 and affiliated with Flourish Ventures, a global Fintech venture capital firm with purpose, Madica provides investment funding of up to $200,000 and delivers support to portfolio companies through a highly personalised startup curriculum, hands-on mentorship, and fully-funded week-long founder immersion trips. 

Selected startups also stand to gain executive coaching opportunities, and access to Madica’s global network of investors for follow-on funding – all designed to spur growth and ensure the long-term viability of the startups.

Founded in 2023 by Chidalu Onyenso, an experienced product manager with an MBA degree from Harvard and more than 10 years in the field, Earthbond is tackling Nigeria’s $14B off-grid generator market by leveraging group financing and carbon accounting to reduce costs and risks in the energy transition. 

Between 2017 and 2023, Nigeria’s grid collapsed 46 times, forcing about 86% of companies to rely on costly and polluting fossil-fuel generators, which cost businesses over $29 billion annually. Solar power offers a cheaper and more sustainable alternative, but high installation costs deter small and medium businesses (SMBs) from its adoption. 

To address this challenge, Earthbond enables businesses to go solar through access to embedded solar finance and a marketplace of accredited solar installers and suppliers.

Since launch, Earthbond has completed audits for more than 100 qualified customers in Lagos, representing a potential pipeline of $1 million in solar projects. More than 1,800 Nigerian SMBs have also expressed interest by joining the waitlist, highlighting the gap and product-market fit. 

The rising startup has established partnerships with four local commercial and microfinance banks to facilitate loans for SMEs seeking to transition to solar power.

Madica’s investment will help drive Earthbond’s ambitious growth by boosting its financing capacity, enabling $10 million in targeted loan originations over the next 3 years. 

The funds will also enhance sales and marketing efforts and develop innovative maintenance and payment tools to enhance the customer experience. 

Additionally, EarthBond plans to create a unique revenue stream by offering discounts based on carbon credits, incentivising businesses to join the program. 

Chidalu Onyenso, Earthbond CEO, said: “This is a pivotal moment for Earthbond, and a powerful endorsement of our mission. We’re really excited to be joining the Madica portfolio family.  Leading the charge of energy transition is no easy feat and we are glad to be joined by renowned investors who share our passion and drive. We look forward to the doors this support opens and also to a greener and cleaner future”

Emmanuel Adegboye, Head of Madica said, “We are excited to be investing in this exceptional startup as it tackles some of today’s biggest climate challenges. We won’t be able to continue the advancements of the African tech ecosystem without addressing power, and we are impressed by the team at Earthbond, their vision, and the technology that provides an affordable and eco-friendly solution. Earthbond has tremendous potential to drive an equitable clean energy future and positively impact our region.

“Investing in Earthbond reaffirms our mission to demonstrate that exceptional founders and products exist beyond the usual homogeneous groups, and we remain devoted in our quest to support underrepresented founders and fuel the growth of pioneering startups across underserved African regions.”

Earthbond recently joined fellow Madica portfolio companies Kola Market, GoBEBA, and Newform Foods and mentors on an immersive trip to London, showcasing Madica’s dedication to founder growth. 

This fully-funded, week-long initiative, coming on the back of the previous trip to South Africa was designed to fully immerse founders in the UK entrepreneurial ecosystem, opening up investment and partnership opportunities within the Afro-European corridors. 

Founders engaged in expert-led sessions, networked with potential investors and stakeholders, and participated in deep-dive workshops on investment readiness, organizational culture, and team building. 

As part of the carefully curated itinerary, the team also participated in various tech startup events and Africa & Diaspora-focused activities, including Africa Ignite x London Africa Network, Africa Tech Summit London Edition, London Startup Ecosystem Mixer by Hoaq and Wimbart, among others.

Launched in late 2022 by Flourish Ventures, Madica aims to address the funding gap faced by many African startups, particularly those led by underrepresented founders.

Madica has wasted no time in making its mark, announcing its first investments in three innovative startups across diverse industries and boosting innovation across a wide range of ventures.

Kola Market, a Ghanaian B2B platform, is one of the startups, helping Small and Medium Enterprises (SMEs) by providing innovative tools to boost their sales, optimize inventory management, and secure financing. In addressing these needs, Kola Market helps SMEs thrive in the competitive African market.

GoBEBA, a Kenyan company, tackles the challenge of getting bulky essentials to urban consumers. The company’s direct-to-consumer e-commerce platform simplifies the purchase and delivery process, ensuring safe, quick, and reliable doorstep service. This makes it easier for people in cities to get the everyday items they need without time issues.

Looking to the future of food, NewForm Foods, a South African company, is developing cultivated meat technology. Its solution allows food producers and retailers to rapidly develop and scale cultivated meat products at a lower cost than traditional methods.

This advancement has the potential to bolster the food industry and promote more sustainable practices.

Madica isn’t stopping there. The VC plans to invest in up to 30 startups by the end of the year, seeking opportunities in emerging markets like Tunisia, Morocco, and Ethiopia.

This is in line with its goal to support a wider range of founders and sectors, particularly those beyond the well-funded fintech space and those led by women.

Madica also gives up to $200,000 per startup and tailored support including mentorship and hands-on guidance for up to 18 months. The program structure is designed to be both personalized and adaptable, attending to the specific needs of each company at different stages.

Madica aims to boost investment in Africa’s pre-seed stage, attract more capital to the continent, and serve as a reference point for global VCs looking to invest in Africa. Succeeding in this could bring about expansion through partnerships, further ensuring its mission is fulfilled.

Emmanuel Adegboye, Head of Madica, places emphasis on the importance of supporting overlooked founders. “We’re excited to announce our first set of investments, which showcase the remarkable talent and innovation in the African tech ecosystem. Each one of these startups represents the untapped potential of African founders who lack the support they direly need because they are too often perceived as risky by global investors. This year, our goal is to support more of these founders and integrate them into the global startup ecosystem. 

The glaring imbalance in venture funding in Africa is a big concern, and we want to support founders who are often overlooked by investors. We aim to be a catalyst and inspire other investors to join our goal of broadening the reach of venture capital and founder mentorship.” 

Marie-Reine Seshie, founder and CEO, Kola Market, said, “We’re encouraged about the possibilities this support opens up, allowing us to test new ideas and scale our operations in ways that will make a difference, especially for our customers.”

Tasneem Karodia, co-founder and COO, Newform Foods conclusively noted: “I think this is a great fit and we look forward to continuing this partnership into the future on our journey to scale.”