Five African Tech Companies Get Boost from New Investment

A new cohort of five startups across Africa has secured pre-seed funding from venture capital firm Madica. Each company will receive up to $200,000 in investment along with 18 months of support through Madica’s startup acceleration program.

The selected companies represent diverse sectors including HR tech, fintech, semiconductors, renewable energy, and waste management:

• Talenteo (Algeria): Provides HR management software for mid-market businesses across Francophone Africa. Co-founded by Louai Djaffer.
• Paysika (Cameroon): A digital neobank offering payment cards and financial services. Founded by Roger Nengwe and Stezen Bisselou.
• ChipMango (Nigeria): Developing semiconductor design and Edge AI capabilities. Co-founded by Ola Fadiran and Jovan Andjelich.
• Delta Oil (Egypt): Connects used cooking oil collectors with renewable fuel buyers. Founded by Serag Moussa.
• Bekia (Egypt): Digitizes recyclable waste collection. Founded by Alaa Afifi.

Madica’s investment aims to address a critical gap in early-stage funding for African startups while providing mentorship and resources beyond just capital. This latest cohort expands Madica’s portfolio of companies building technology solutions tailored for the unique challenges and opportunities within African markets.