Both startups from Morocco and Kenya have received the attention of GreenTec Capital, the VC that invests in African startups and SMEs with a focus on combining social and environmental impact with financial success. Morocco’s Kwiks and Kenya’s Ecodudu both received undisclosed amounts of investments from the VC. GreenTec Capital’s investment in the Moroccan startup Kwiks is its first investment in North Africa.

Investment In Kwiks

• Startup KWIKS is the Moroccan digital platform that specialises in rapid personnel sourcing. KWIKS combines a proprietary platform with a curated talent pool technologically supplemented with public and private data sources to quickly offer top-tier talent to its customers.
• KWIKS is now planning to expand its reach in Africa and diversify from its Francophone niche, after securing funding from GreenTec Capital.
• The company is already operational in Morocco, France, and Belgium, delivering qualified candidates in IT, consulting, CRW, and finance to employers.
• The KWIKS extended database of candidates is provided to companies through a collaborative real-time exchange platform.

“GreenTec Capital is very impressed with the KWIKS team and similarly with the Moroccan and North African startup ecosystem. While this is our first deal in the region, it is not likely to be our last,” GreenTec said.

Investment In Ecodudu

• Ecodudu is an innovative Kenya-based waste-to-value company producing high-quality insect-based protein for animal feed and organic fertilizers from recycled organic matter.
• Ecodudu has developed an innovative process that harnesses nature’s recycling agents, insects, to address global problems of unmet protein demand, organic waste management, and environmental conservation.
• Leveraging the team’s more than 18 years’ experience in animal feed production, Ecodudu uses fly larvae to produce sustainable and highly nutritious proteins for animal feeds and organic fertilizers.
• The fly larvae convert the organic waste into high-protein biomass and leaving behind a rich residue. 
• At the full-grown larvae stage, the flies are dried and provided in bulk to feed manufacturers for commercial use as the company’s signature Dudu Meal. The residues are subsequently processed into organic fertilizer called Shamba Mix. 
• The result is a cost-effective, safe, and sustainable waste-to-value process that produces feed with a higher protein density than soya beans.

‘‘GreenTec Capital sees great potential in alternative protein production solutions and is very impressed with Ecodudu’s team. With Maxime Bayen as lead company builder, GreenTec will work to support Ecodudu to scale their business to the next stage,’’ GreenTech Capital says in a statement

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A Look At The VC GreenTech Capital

GreenTec Capital is a German-based venture capital firm that invests in African startups and SMEs with a focus on combining social and environmental impact with financial success. The German investment firm has invested in a host of African startups, including Kenyan AI startup SuperFluid Labs, Nigerian logistics startup Parcel-it, Kenyan insurtech platform Bismart, and Zambian energy company WidEnergy.

‘‘GreenTec Capital Partners invests in African start-ups and SMEs with a focus on combining social and environmental impact with financial success. We use capacity building, process optimization and a diverse team of international experts to help them implement and adapt the latest technologies to their models so they can extend their value chains and have more impact locally. Our mandate is to maintain at least 75 percent impact focused enterprises and we aspire to grow 400 companies by 2023,’’ the VC notes. 

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