Moroccan startup Chari.ma has won the Middle East Africa Seed Challenge organized by Orange Ventures and in which more than 500 technological startups from many countries such as Morocco, Tunisia, Egypt, Senegal, Cameroon, Ivory Coast or Jordan participated.
“We believe that Orange Ventures can bring a lot of synergies to the development of Chari.ma in Morocco but also in French-speaking Africa. Whether through the financial services offered by Orange Money or through the distribution of top-ups in local grocery stores, ”says Ismael Belkhayat, co-founder and CEO of Chari.ma.
Here Is What You Need To Know
- The Orange Ventures Africa and Middle East investment teams carefully analyzed all the applications and decided to join the Chari.ma adventure. The national start-up thus becomes the first Moroccan technological startup to welcome in its tour de table the armed wing VC (Venture Capital) of the French telephone operator.
- Launched in January 2020 by the duo Ismael Belkhayat and Sophia Alj, Chari.ma has been accelerated within the family holding HnS Invest Holding, which supports startups in distribution and logistics. Chari.ma aims to revolutionize the way in which local shops are supplied. It provides them with a mobile application allowing them to order all the products they need for their point of sale in just a few clicks, with a commitment to free delivery in less than 24 hours. The application has already won over more than ten thousand grocery stores in the main cities of the kingdom.
- Regarding his investment in Africa, Jérôme Berger, CEO of Orange Ventures says:
“More than elsewhere, the difficulty of access to investment constitutes for entrepreneurs a brake on development in Africa, where investments are rarer and more frequent. focus on a few geographies, while the continent is teeming with opportunities and talents everywhere. Our initiative can help provide a solution for these talents and confirms our confidence in the innovation potential of local ecosystems in countries where Orange is present.”
Read also: Orange Ventures Opens Applications For Orange Ventures MEA Seed Initiative
Orange Ventures Opens Applications For Orange Ventures MEA Seed Initiative
Orange Ventures wants to expand this seed investment activity and is launching Orange Ventures MEA Seed. This initiative complements the historical activity of Orange Ventures on the continent and aims to finance 100 start-ups by 2025, mainly in the countries of Africa and the Middle East where Orange is present, and this from their early stages of development, with tickets of up to 200,000 euros.
“More than elsewhere, the difficulty of access to investment constitutes for entrepreneurs a brake on development in Africa, where investments are rarer and concentrated in a few geographies, while the continent is full of opportunities and opportunities everywhere. talents. Our initiative can help provide a solution to these talents and confirms our confidence in the innovation potential of local ecosystems in countries where Orange is present, ”explains Jérôme Berger.
“This initiative, which I welcome, is part of our strategy of openness and support for innovation players wherever we operate. It is essential for ecosystems to be able to rely on large groups capable of both investing and engaging with local entrepreneurs, especially in the current context. », Adds Alioune Ndiaye, Managing Director Orange Middle East and Africa.
The Orange Ventures MEA Seed initiative is open to start-ups in the new technology sector with a rapid growth profile, at the seed stage and operating mainly in one of the 18 countries of which Orange operates in Africa and the Middle East. Geographical proximity must maximize the impact of the support offered as well as the chances of collaboration with the entities of the Orange group.
Applications are now permanently open and can be submitted on the Orange Ventures website.
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