E4E Africa, the recently launched South Africa-based VC firm has made its first investment in South African innovative AI and data annotation startup Enlabeler to enable the startup hit the ground running.
“As important as this initial funding is, what really attracted us to E4E was their expertise as seasoned entrepreneurs and the relationships to which they could introduce us. We rate the team highly as entrepreneurs and are proud to be associated with them,” said Esther Hoogstad CEO and co-founder at Enlabeler.
Here Is What You Need To Know
- The amount involved in this round of funding is undisclosed.
- The startup aims to use the funding to immediately get most of its operations started.
Why E4E Africa Invested
“Enlabeler is a perfect example of the kind of company we want to invest in. It combines the latest in innovation and technology with the ability to scale globally, while empowering ordinary South Africans,” said Philani Sangweni, Managing Partner at E4E Africa.
Newly launched venture capital fund, Entrepreneurs For Entrepreneurs Africa (E4E Africa), which recently secured R135 million ($8.2m) in funding, invests in innovative startups in South Africa. The fund, which was backed by a founding investment from the SA SME Fund, aims to support business models that bring innovative, agile solutions to critical sectors of the South African economy, including the fintech sector, healthcare and the sustainable agriculture value chain, as well as those with the capacity to scale inside and outside of South Africa.
Read also: How South African VC Firm E4E Africa Will Invest Its Newly Launched $8.2m Fund In Startups
A Look At What Enlabeler Does
Initiated in 2019, by Pieter Boon and Esther Hoogstad, Cape Town-based Enlabeler work with clients all over the world that require assistance with the organisation, classification, clean-up and labeling of data. Since launching, the startup’s live image annotation, audio transcription, and local language services has attracted a number of local clients.
Enlabeler says it has grown a person-strong database of over 250 human labelers. In addition, the startup has established a presence in both Kenya and South Africa with plans for further expansion into the rest of Africa.
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