Africa is sprinting up with tech ideas, which is spilling over the continent into developed markets. How disruptive are these tech ideas and are these opportunities substantial enough to create the needed clout in Africa and beyond? How can international LPs tap into these opportunities and what are the necessary steps involved in securing an investment in an African Tech venture?
Alts Crew, the platform for investment professionals and investors interested in alternative investing, and Bloomberg are bringing together subject matter experts 23 March at Bloomberg Offices in London, UK where participants will engage in an in-depth conversation on Africa tech based venture investing. The event also feature pitches from a handful of carefully selected disruptive African tech ventures that were selected from the VC4Africa platform. See details for the event.
17.30 Panel Discussion
19.00 Networking Reception
The panel will discuss Afri Tech Investment trends and activity seen across the nascent industry. Investor’s will focus on picking viable opportunities, route to investment and insights on conducting full due diligence.
Richard Odumodu, Senior Advisor, Cass Business School
Stephan Breban, Investment Consultant/Private Equity Specialist
Ben White, Founder, VC4Africa
Andrew Sekandi, Africa Risk and Compliance Specialist
Ethel Coffie, Founder, Women in Tech Africa
SafeMotos, is connecting customers to safer motorcycle taxis across East Africa, starting in Rwanda. Their Uber influenced smartphone app empowers customers to pay a premium to be picked up by a safer moto taxi driver. SafeMotos takes a commission from every trip.Customers able to choose safer drivers will save lives.
Safemotos have had more than 700 trips in September just three months after launch, more than 200,000km of data collected, has completed Rwanda’s largest ever seed round of 130,000 USD, is the first African investment from SOSventures and the first Rwandan company to win East Africa’s PIVOT East. SafeMotos is positioning itself to conquer the next seven markets, which together have with a TAM of more than 300 million dollars, and in the process become Africa’s first unicorn.
BitPesa is a cutting-edge pan-African payments platform that provides low-cost, fast and secure payments to, from, and within sub-Saharan Africa. BitPesa allows individuals and small businesses nearly anywhere in the world to make payments to 5 mobile money networks and over 60 banks in Nigeria, Kenya, Uganda and Tanzania. BitPesa also allows customers in these African countries to use their local currency to to purchase digital currency for trading and to make online and international payments. Payments via BitPesa can be up to 75% cheaper than those via Western Union, and 6 days faster than the average bank transfer. BitPesa is fully KYC/AML compliant, having been registered with both HMRC and FINCEN.
BitPesa was established in Kenya in 2013, and has since grown to a team of 20 based in Nairobi, Lagos, London, San Francisco, and Tallinn. Our team includes former employees of Google, Apple, Facebook, JPMorgan, Credit Suisse, Deloitte Consulting, and PricewaterhouseCoopers. Our investors, which include Joseph Mucheru (Google Ambassador to Sub-Saharan Africa) and Pantera Capital, are located in New York City, San Francisco, and Nairobi.
See their website.
A Mellowcabs is an eco friendly, fully electric minicab designed to provide an efficient on-demand taxi service in urban areas. It fills the gap for commuters needing micro transport within a three mile radius, and can easily be hailed via the Mellowcabs app or website. Mellowcabs emits zero carbon emissions, and has proven to be much more efficient than traditional cabs. They also help to reduce traffic congestion in city centres and tie in to existing public transport systems. For advertisers, Mellowcabs represents an exciting, innovative way in which to showcase brands. Mellowcabs has received a number of awards from South Africa, Europe and the US, including the Global Innovation Award, the 110% Green Initiative Flagship Company award at the World Design Capital CapeTown 2014 and being named the Global winner of 1776 of the Smart Cities Challenge Cup at 1776 DC Challenge Cup in Washington DC in 2014. Forbes Magazine identified Mellowcabs as one of the 7 innovative products from Africa; CNN called Mellowcabs an amazing idea. Finally Mellowcabs received a public acknowledgement of their business from Bill Gates.
DrugStoc is a secure and interactive Pharma IT and Logistics platform that connects license manufacturers, importers and wholesalers of pharmaceutical products to hospitals, pharmacies and clinics. All licensed health professionals in Nigeria are now able to access and purchase thousands of NAFDAC approved pharmaceutical and medical consumables in a safe and efficient environment at the click of a button.
Drugstoc believes in a more transparent approach towards drug procurement in sub Saharan Africa. They achieve this by integrating their expertise in supply chain management, information technology and grass roots understanding of the health provision market they operate in. The company operates from Nigeria.
Drugstoc is looking to raise $300,000.
See their website.
Foodstantly is a mobile-web marketplace that connects farmers, food vendors, traders, agro-processors, Open Air Markets, food companies, restaurants, businesses and consumers together. Foodstantly is Nigeria’s single hub for all things food and farm produce.
Foodstantly aggregates Millions of Farmers, Food traders, Food Companies, Eateries and open air market on a single platform, thereby making it very convenient for consumers to discover, buy and take delivery of food and farm produce.
Accolades achieved so far include being named as among Top 40 Tech Start Up in Africa – Demo Africa 2014, Top Seed in WeChat Afribeta Ideathon 2015 (selected as among 10 startups in Nigeria to be natively integrated into Wechat instant messenger platform) and has received seed grant from Tony Elumelu Foundation through its entrepreneurship program.
SOKO Insight is an internet-based information platform that empowers business leaders and organizations with reliable data and actionable insights from Africa.
Soko is looking to build a platform that will leverage internet penetration and connectivity in Africa, provide a cost effective, robust and transparent data collection and dissemination for insight and research.
With deep roots in Africa and the best technology tools, Soko sources data and insight from millions of middle class Africans to help their clients understand, track and serve the fastest growing consumer market in the world.
Information is attained through a grassroots network of local partners, some of the best data analytics tools available and a team made of leading experts in data crowdsourcing. Since April 2015, Soko has expanded to providing data on 5 African countries, have surveyed more than 10,000 respondents and collected over 200,000 responses with some very interesting insights on media consumption, mobile banking habits, mobile apps and shopping habits. Early adopters of Soko products (Quartz Africa, CityNet, etc.) appreciate the immediate currency of our data.
Onlime offers a comprehensive and fully flexible range of high quality, secure and reliable satellite and terrestrial communications services for customers across the globe.
Onlime is a revenue generating provider of Internet and Data services. The business is in two parts: a satellite teleport in Germany which provides Internet over satellite to enterprise customers mostly in Africa with capability to cover a much larger area. This operation currently turns over about €5m with prospects to growing to circa €11m by 2017. The second part of the business is based around the leading Internet Service Provider in Sierra Leone. The company turns over just under $3m per year. Onlime services both corporations and residential customers including Pan African banks in Nigeria and Ghana another parts of Africa.
Onlime is looking to raise an initial sum of $5m
See their website.
WhereIsMyTransport is redefining public transport in emerging cities. They have built an integrated public transport data platform that specifically addresses the challenges of developing cities: informal transit, limited technical infrastructure, restricted budgets, and unplanned urban growth. Their platform is compatible with any existing software provider such as SAP, Oracle, etc. Governments pay an initial project fee and WhereIsMyTransport charges a recurring license fee for access to the platform and accompanying products that enable streamlined communication, operational optimisation, and Big Data analysis of movement data across the city. The platform currently powers the only integrated Transit Authority (Cape Town), the only high-speed rail (Gautrain), and the first multi-modal transit apps, in Africa.
Last year, their platform was recognized by the Financial Times/IFC, the WWF, Start-Up Tel Aviv, and the Global MobiPrize. They were recently invited to a roundtable discussion with Secretary Foxx of the US Department of Transportation that will focus ensuring that innovation in urban mobility has direct social impact. WhereIsMyTransport is also in talks with governments from Rabat to Accra to launch pilot projects, and was a recent featured presenter at the African Union of Public Transport Summit.
WhereIsMyTransport has offices in Cape Town and London, and are looking to raise £2,500,000.
See their website.
Zazu is an SMS-powered e-commerce and logistics platform for developing countries. Our value proposition is connecting smallholder farmers to markets local to them. Our platform, capitalising on the ubiquity of mobile phone usage, allows farmers in disparate communities and villages, using SMS to participate in profitable markets. We aggregate farmers to meet buyer demand they would otherwise be unable to meet alone. Our ultimate vision is to become an integral part of the supply chain and logistics movement in Africa and beyond and we are on course to achieving this. We have significant social impact at each stage of the value chain: disintermediating middlemen and redistributing the profits equally to the farmers and producers, cost cutting e-commerce and of course, creating jobs by crowd-sourcing delivery jobs.We are currently generating revenue and preparing ourselves for external investment.
See their website.