In a significant boost to Africa’s thriving startup ecosystem, Google for Startups’ Black Founders Fund has revealed its selection of 25 inspiring African startups for its third cohort. This announcement highlights the fund’s commitment to fostering innovation in Africa’s digital economy and recognizes the immense potential these startups hold for the continent’s future.
Led by Folarin Aiyegbusi, Head of Startup Ecosystem, Sub Saharan Africa, Google for Startups believes that the only limit to the realization of tomorrow lies in the doubts of today. Franklin D. Roosevelt’s words deeply resonate as the third cohort of the Google for Startups Black Founders Fund beneficiaries are unveiled. The startups in Africa have shown remarkable enthusiasm in embracing the boundless possibilities of tomorrow, which is truly inspiring.
With Africa’s population projected to surge, estimates indicate that by 2050, one-third of Africans will be under 35 years old. This demographic wave presents immense opportunities for startups to cater to a burgeoning market. From healthcare to agriculture and fintech, startups are leveraging technology to tackle Africa’s challenges while capitalizing on its vast market potential.
One standout example that encapsulates the spirit of this journey is HealthDart, helmed by CEO Njabulo Skhosana. Leveraging his decade-long experience in healthcare consulting across Nigeria, Ghana, Kenya, and South Africa, Njabulo and his co-founders launched HealthDart. This digital health maintenance organization (HMO) facilitates easy access to affordable healthcare through an integrated digital pharmacy and telemedicine platform.
Now in its third year, the Google for Startups Black Founders Fund aims to address the inequality in venture capital funding by supporting Black founders. In this edition, each selected startup will receive up to $150,000 in non-dilutive cash awards, $200,000 in Google Cloud credits, Google Ads support, and personalized mentoring from Googlers and industry experts.
The impact of the program speaks for itself. Since its inception in 2021, participating founders have witnessed a 21% rise in employment, with women filling 46% of these positions. Additionally, there has been a notable 7% increase in monthly recurring revenue, surpassing $6.1 million.
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Introducing the 2023 Google for Startups Black Founders Fund recipients in Africa, the list comprises 25 remarkable startups with a remarkable 72% of them being led or co-founded by women. These startups not only demonstrate diversity in leadership but also span various sectors and represent different geographical locations across the continent. Here is the alphabetical list of the startups:
- Akoma Health (Nigeria): A tech platform providing accessible and culturally conscious mental health services in Africa.
- BezoMoney (Ghana): Offering digital banking solutions to serve Africa’s underbanked population through mobile and web platforms.
- Chargel (Senegal): A digital trucking platform connecting shippers and carriers in Francophone West Africa.
- Charis UAS (Rwanda): Utilizes drone technology to provide 3D geospatial data.
- Evolve Credit (Nigeria): Offers Software-as-a-Service (SaaS) solutions for digitizing and managing banking services.
- Excel At Uni (South Africa): Supports student funders through digital services.
- EzyAgric (Uganda): Utilizes AI-powered mobile technology to enhance Africa’s farming sector.
- Fez Delivery (Nigeria): A last-mile logistics platform catering to various industries.
- Fleetsimplify (Kenya): A monetization platform connecting gig drivers and vehicle owners.
- HealthDart (South Africa): A digital HMO providing end-to-end health services with integrated insurance.
- Herconomy (Nigeria): A female-focused fintech company aiming to establish Africa’s first women’s bank.
- Jumba (Kenya): Enhancing Kenya’s construction sector supply chain through a B2B platform.
- MDaaS Global (Nigeria): Employs tech-powered diagnostic centers to offer affordable healthcare services.
- My Pocket Counsel (Nigeria): A legal tech platform for contract generation and management.
- Orda (Nigeria): A pan-African neobank catering to the restaurant industry with cloud-based software.
- Periculum (Nigeria): A data company assisting in credit assessment and identifying fraud and churn risks.
- Raenest (Nigeria): A fintech company providing global financial services to freelancers and startups in Africa.
- Ridelink (Uganda): An e-logistics platform offering shipping services with real-time tracking.
- Susu (Côte d’Ivoire): A health platform providing healthcare services and insurance funded by the African diaspora.
- Talamus Health (Ghana): Develops tech solutions targeting healthcare inefficiencies in Africa.
- TruQ (Nigeria): Streamlines mid-mile logistics across Africa by leveraging third-party vehicle connectivity.
- Tushop (Kenya): A tech platform enabling group buying of daily essentials in Kenya.
- Uzapoint (Kenya): A mobile/web POS system for digitizing bookkeeping in Africa’s informal sector.
- Zinacare (South Africa): An online platform offering accessible and affordable healthcare services.
- Zydii (Kenya): Provides localized digital training solutions for African SMEs.
The selection of these startups underlines the growing vibrancy and innovation within Africa’s entrepreneurial landscape. Google for Startups’ Black Founders Fund remains committed to fostering and empowering African startups, ensuring that Black founders thrive for the benefit of all.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard