Madica invests $800,000 in four African startups to spur growth

Madica, an investment programme for pre-seed startups in Africa, has announced an $800,000 investment in four African startups.

These startups have all received $200,000 and will leverage 18 months of Madica’s investment programme, which will provide building support tailored to the unique needs of each startup.

This investment programme will feature a highly personalised curriculum, hands-on mentorship and executive coaching opportunities with the likes of Yoeal Haile as a mentor, as well as two-week fully funded founder immersion trips to key local and global ecosystems, including Cape Town and London.

The main focus is to spur growth, secure follow-up funding, and ensure the long-term viability of the startups.

The four selected startups are: 

• Medikea: A digital healthcare platform from Tanzania founded by Elvis Silayo and Desire Ruhinda, Medikea combines telemedicine and in-person facilities to provide primary and speciality healthcare infrastructure.

• Motherbeing: An Egypt-based startup that provides AI-driven health and wellness solutions for Arab women. Founded by Nour Emma and Yousef Elsamaa, this startup gives AI assistance, educational content, and diagnostic services. 

• Pixie motors: Founded by Anis Fekih and Wafa Dhifi, offering eco-friendly electric mobility for urban travel and last-mile delivery in Tunisia.

Since its inception in 2022, Madica, through its programme, has provided structured support for startups to resolve critical issues, providing access to capital, investors and mentorship, fostering innovation, entrepreneurship and wealth creation across the continent.

In its first year, the company supported eight startups after securing six new investments. Currently, it has exceeded its goal of achieving 50% gender diversity in leadership teams, having backed female-led companies across eight countries and six different sectors.

Also, in April 2024, Madica backed three African startups, Kola Market, GoBEBA, Newform Foods, with $200,000 as part of its first investment programme in Africa. By October 2024, Earthbound, a Nigerian climate tech, secured funding to scale solar energy for small and medium-sized enterprises (SMEs). 

Madica is also affiliated with global fintech venture capital firm, Flourish Ventures, both seeking opportunities to empower entrepreneurs with funding and access to world-class company support.