The African startup ecosystem continues to attract a lot of venture capitalist attention. Yet the continent has not produced a lot of exits to justify. However, a recent trend in mergers and acquisitions (M&As) in different parts of Africa is changing things.
Nigerian solar energy company, Arnergy has closed a $9 million Series A round led by Breakthrough Energy Ventures with participation from All On Energy, ElectriFI and Norfund.
On the 11th of July, Techcabal is convening African governments, regulators, investors, development agencies, multinationals and entrepreneurs to discuss The Future of Africa’s Energy.
After raising the new funds, Max wants to expand into different markets and into new transport verticals, one of which would see the introduction of electric vehicles/motorbikes (EVs).