Demo Africa Announces 30 Startups Pitching For Investment At Annual Conference
Demo Africa, a firm that runs pitching contests for African tech companies in search of investment and exposure, has announced the 30 startups that will pitch at the firm’s annual conference in Morocco.
The annual conference, which will take place on Oct. 18 and 19, will see 30 tech startups from all over Africa descending on Casablanca for a major pitching event, according to Ventureburn.
The 30 finalists made it to Demo Africa’s seventh annual conference by excelling at local pitch events held across the continent.
Ahead of the conference in October, the startups will be put through virtual and physical bootcamps that are designed to prepare them for the stakeholder engagements at the conference.
Demo Africa runs various pitching competitions and connects African startups to global tech investors and stakeholders.
It is one of the flagship initiatives of Lions@frica and aims to connect African startups to the global ecosystem.
Lions@frica is a public-private partnership launched by the U.S. Department of State to tap the startup and innovation ecosystems of targeted fast-growing African economies.
Among the 30 chosen startups is Nigerian fintech firm Accounteer, Ghanaian agritech company Complete Farmer, South African mobility-as-a-service platform Lula, and Kenyan travel experiences startup CLoud9XP.
Others include Senegalese startup ADN Corp, Moroccan artificial intelligence-based drone technology firm Atlan Space, Tunisian fashion e-commerce marketplace Dabchy, and security information company Zuoix from Cameroon.
There is a varied mix of tech startups from throughout the continent and across specific sectors, with many of them relying on artificial intelligence solutions, including Egyptian AI-platform Niotek and Kenyan AI-powered logistics platform Sote.
Healthcare is also a focus of some of the selected companies, with Ghana’s Redbird providing on-site rapid test technology, while Ivory Coast-based Maurice Communications develops health-tech solutions for medical personnel, and Morocco’s MolDiag produces affordable diagnostic kits to detect diseases and viral infections.
New fund to launch at annual conference
The Nairobi-based investment management company will raise and manage the $100 million fund with the aim of assisting early stage and growth startups across Africa.
Having been involved in the support and mentorship of more than 3,000 early stage startups over the last six years, Demo Africa helped those businesses to raise over $60 million for their growth and operation.
The fund will officially be launched in Morocco this coming October, with the five countries that the new $100 million fund will focus on including Egypt, Ghana, Kenya, Nigeria and South Africa, according to Ventureburn.
Soko is a jewelry e-commerce platform that empowers artisans in East Africa. It works with the United Nations and Hollywood celebrities.
Weza Tele, a Kenya-based fintech startup, was bought in 2015 by financial services giant AFB for $1.7 million, according to Disrupt Africa. At the time it was the largest acquisition in Kenya’s history of startup acquisitions.
SpacePointe is a Nigerian tech startup that helps African small and medium enterprises to increase their bottom line revenue in their offline and online market channels. In 2016 the company raised $1.2 million in funding from numerous investors.