4. Kenya’s TotoHealth has raised $100,000 in funding from Safaricom and Stream Capital
The startup which focuses on providing relevant information on infant and maternal healthcare via SMS plans to use the funding to expand across Kenya and into more African countries. It will also take advantage of Safaricom’s open API and mobile network coverage to reach more families in Kenya.
More information here.
3. Egyptian VC firm, Algebra Ventures has raised $40 million to invest in tech startups
The fund is said to be the largest in the country and Algebra Ventures is looking to fund about 25 technology and technology-enabled startups with amounts ranging from $0.5 million to $4 million. The VC firm also said it plans to reach a final closing of $50m.
Read more on it here.
2. Kenya’s iHub is launching an investment fund for African startups
Tagged the Africa Innovation Fund (AIF), it will be an exclusive investment partner of iHub, and will provide support for entrepreneurs across Africa. iHub is looking to source $10 million for a Nairobi pilot with plans to expand to other countries over time. iHub is also looking to introduce paid membership tiers for startups as part of its restructuring drive.
Read all about it here.
1. The Independent Communications Authority of South Africa (ICASA) has approved Liquid Telecom’s acquisition of Neotel
Liquid Telecom announced that it was planning to acquire South African telecom operator, Neotel, in June 2016. The deal has now been unconditionally approved by SA’s regulatory body giving Liquid access to Neotel’s infrastructure which includes nationwide backbone fibre and two data centres. The deal is expected to be finalised in early 2017.
Read all about it here.
