Founders Factory Africa, a Corporate-backed accelerator and incubator has unveiled four new African startups to its Venture Scale programme, which kicked off yesterday.
In a statement yesterday, Founders Factory Africa announced that it was welcoming Truzo (South Africa), RedBird (formerly Redbird Health Tech, from Ghana), MVXchange (Nigeria) and WellaHealth (Nigeria) to the six-month programme.
Here Is All You Need Yo Know
- The four startups will also have access to exclusive partnerships with Founders Factory Africa’s pan-African corporate investors — Standard Bank and Netcare — which includes access to distribution channels, customer acquisition, pilots, data, IP and expertise.
- Founders Factory Africa said the four startups have established innovative tech products specifically targeted at the African continent.
RedBird
RedBird offers a suite of verified rapid diagnostic tests (RDTs) and supplies, staff training and its own proprietary monitoring software to pharmacies — giving patients accessible, convenient ways to monitor and manage their health. The startup last week announced the launch of a Covid-19 daily check-in app (see this story). In 2018 the startup netted investment from US investor Gray Matters Capital.
Truzo
Truzo claims to be South Africa’s first web and app-based escrow platform enabling buyers and sellers anywhere to transact in a safe and secure way.
Wellahealth
Wellahealth provides small scale and affordable micro-insurance for common conditions. The first product targeting malaria is affordable and ensures quality and immediate care at your closest pharmacy.
MVXchange
The startup is a tech-driven maritime logistics platform that matches vessel charter requests with available Offshore Support Vessels (OSVs) — the Uber for ships. The startup previously raised $100 000 in funding, in a round led by US venture capital (VC) firm Oui Capital (see this story).
About The Venture Scale Programme
Founders Factory Africa’s Venture Scale provides African startups with £220 000 in tailored support services across product design, data science, engineering and business development, along with a cash investment of £30 000.
The Venture Scale programme at FFA focuses on developing existing startups that have the potential to scale across the continent.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com