Nigerian e-health startup Stack Dx has raised an undisclosed amount of funding from early-stage fund Microtraction. The Nigerian early-stage investment fund Microtraction, invests up to US$65,000 in startups at the very earliest stages of their development. Founded by Abasi Ene-Obong, Damilola Oni, Francis Osifo and Gatumi Aliyu, Stack Dx has developed a seamless online platform that connects patients and health professionals to genetic tests.
Microtraction has backed a host of Nigerian startups in the last year, including Accounteer, Riby, Thank U Cash, CowryWise, Bitkoin Africa, Wallet.ng and Allpro. As ever, the exact amount invested remains undisclosed.
CFAO is launching a Cash & Carry brand in Cameroon under the name Supeco. On the Cash and Carry segment in Cameroon, Supeco joins the BAO brand, the first African experience in this field. The latter plans a total of 10 stores in the country. According to Jean-Christophe Brindeau, MD of CFAO, the launch of 10 Supeco stores in Senegal, Cameroon, and Côte d'Ivoire this year, represents an investment of €30 million (nearly FCFA 20 billion).
The consortium CFAO Retail-Carrefour, however, plans around 30 stores in each of its targeted countries (Cameroon, Senegal and Côte d'Ivoire). Targeted customers are those with low purchasing power who are used to informal trade.
The Sun Exchange’s initial coin offering (ICO) raised just over $1-million, missing its targeted $5.4 million. The South African blockchain-based solar micro-leasing marketplace attributed not having achieved the targeted raise of $5.4-million to the recent turbulent ICO market. A report by Ventureburn in July last year found that even among those startups that ran ICOs before last year’s turbulence, few came anywhere near achieving their targeted raise.
While this came as a disappointment to those who had their hopes high on The Sun Exchange, the startup, in a blog post, however, said it would continue to raise capital by seeking external equity investments.
Togo welcomes Nigerian logistics startup Kobo360 as it begins its continent-wide expansion drive after securing over US$7 million in funding last year. Launched in July 2016, Kobo360 enables individuals and businesses to request or schedule a pickup of packages, and track the driver until its final destination. The startup raised two funding rounds, totaling US$7.2 million last year in order to scale. It is now pushing ahead with those plans with a launch in Togo.
According to Kobo360 co-founder Obi Ozor, “Our mission is to build the global logistics operating system that will power trade and commerce across Africa and emerging markets” and Togo is a key part of that drive. The company is already meeting with Togolese government officials, partners, and potential applicants to fill several open positions in the company’s Lome branch. The company will also be making forays into the Ghanaian and Kenyan markets in the coming weeks.