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Savannah Fund launches $25m Africa tech seed fund led by the IFC, WeFi


Alexander O. Onukwue
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Multiple funding opportunities are opening up for African startups from various sources, the latest being from Savannah Fund. 
The venture capital firm has raised $25 million to invest in early-stage startups across sub-Saharan Africa, with a focus on “supporting women entrepreneurs and disruptive companies in high-growth sectors.” 
This $25 million fund is the firm’s second close and has been aptly named “
Savannah Fund II”. Investment into the new fund was led by the International Finance Corporation (IFC) and the Women’s Finance Initiative (WeFi). 
Savannah will invest in Kenyan, Nigerian and South African startups that are at the seed to Series A stage. They define the three countries as their “core markets” but plan to expand their portfolio to include startups in Rwanda, Ethiopia, Uganda, Ivory Coast and Ghana. ....

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Savannah Fund launches $25M fund to invest in African startups at seed and Series A – TechCrunch


Savannah Fund launches $25M fund to invest in African startups at seed and Series A
Savannah Fund, a pan-African venture capital firm, today announced a $25 million fund as it looks to back more early-stage startups on the continent.
Since launching in 2012, Savannah Fund led by Mbwana Alliy and Paul Bragiel has backed more than 30 startups. Some of its well-known investments include South African car subscription company, FlexClub; Kenyan on-demand logistics company, Sendy; and Nigerian fintech company, Lidya.
Before becoming a VC firm, Savannah Fund started as an accelerator program in Kenya. Startups that got accepted participated in cohorts for three months and received up to $30,000 in funding. However, in 2016, Savannah transitioned into venture capital investing, focusing on seed and Series A stages with $25,000 to $500,000 checks. ....

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News: Ethiopian becomes first innovator shortlisted for Africa Prize 2021 entrepreneurial innovators shaping the continent


Orbit health team members computer code unit Addis Abeba Ethiopia February 03 2021
Addis Abeba, February 18/2021 – Ethiopian national Pazion Cherinet, who developed Orbit Health, a digital health platform which manages and stores patient data, including appointments, diagnoses, tests, doctors’ notes and prescriptions, became the first innovator from Ethiopia to ever be selected for the Africa Prize for Engineering Innovation.
Pazion is one of 16 entrepreneurs who have been shortlisted for the Africa Prize for Engineering Innovation (APEI) – UK Royal Academy of Engineering, according to a statement sent to
Addis Standard by the organizers. The 2021 shortlist represents nine countries including, for the first time, Côte d’Ivoire, Senegal, Ethiopia and the Gambia. Six of the 16-strong shortlist are female innovators. ....

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Wild Card innovation programme


By 
Sara Mageit
09:50 am
February 1, 2021
EU-backed health innovators, EIT Health today announced their support for two innovator teams following their 2020 Wild Card programme, selecting Spain-based MiMARK and German-based Orbit Health.
The two teams will be supported by EIT Health, which is backed by the EU as part of the European Institute of Innovation and Technology, for over two years with up to €1.5 million each.
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