African Tech Update: 15 August 2022

L-R: Izunna Okonkwo (CGO), Olamide Oladeji (CPO) and Abuzar Royesh (CEO)
L-R: Izunna Okonkwo (CGO), Olamide Oladeji (CPO) and Abuzar Royesh (CEO)

Highlights

  • Pastel, a Nigerian startup has closed a seed raise of $5.5 million led by pan-African venture capital firm TLcom Capital.
  • Global Founders Capital (GFC), Golden Palm Investments, DFS Labs, Ulu Ventures, Plug and Play, and Soma Cap also participated in the seed round. The startup raised a $620,000 pre-seed last year from some of its existing investors.
  • The company’s flagship product, Sabi, is a digital bookkeeping app that allows SMEs to monitor and manage their transactions and customers, get insights into their cashflows, issue receipts, and effectively manage customers who owe them.

Source: TechCrunch

Egypt’s restaurant-tech BONBELL bags $350k angel funding

Highlights

  • Egypt-based foodtech startup BONBELL has raised $350,000 from a Canadian angel investor.
  • Founded in 2022 by Doaa Abdel-Hameed, BONBELL offers a cloud-based online food ordering and delivery system, enabling restaurant managers to handle dine-in orders, table reservations, and curbside delivery.
  • BONBELL plans to use the investment to expand its network of restaurant partners to 750 by the end of 2022 while also set on a course of closing a $10 million round.

Source: Wamda

SA agritech startup Homefarm closes $104k seed round

Highlights

  • PixelBlue, the parent company of South African agritech start-up Homefarm, has raised about $104 000) in seed funding to enable consumers, communities, and businesses to grow more of their fresh food produce on-site where it is consumed.
  • Homefarm’s fully automated indoor farms and farming-as-a-service model means anybody can grow their own food. Its systems are based on proprietary designs and technologies, and all its products are developed and manufactured in South Africa.
  • The seed funding is to assist the startup in scaling its operations, improving its service offering, and rolling out its marketing and distribution channels.

Source: Ventureburn