DealMakers AFRICA
Egypt’s B2B digital pharmacy marketplace, Grinta, has announced the acquisition of Auto-Cure. Financial details of the deal were not disclosed. Since launching in 2021, Grinta has made two acquisitions (PH Store and EME) and has raised US$8 million in seed funding (November 2022).
AI recruitment company, Talents Arena, has raised US$750,000 in pre-seed funding from UI Investments and several angel investors. The Egypt-based firm is a Flat6Labs portfolio company and an alumnus of the Plug and Play startup accelerator programme. The funds will be used to accelerate the AI hiring engine and expand its footprint in the Saudi market, which already makes up 25% of its client base.
Moove, the mobility fintech founded in Nigeria, has announced that it has raised additional funding to help with its global expansion plans. The US$76 million raised comprises $28 million in equity from new and existing investors, $10 million in debt and $38 million raised in the last year (not previously disclosed).
A15 has led a seed funding round with participation from group of angel investors, in Egypt’s Buguard. The US$500,000 investment will help the cybersecurity startup grow its team – this is the company’s first external fundraise.
Rwanda’s SOUK Farms has received an undisclosed investment from Goodwell Investments’ uMunthu II fund. The funding will provide SOUK, a grower and exporter of fresh horticultural produce from Rwanda, the capital it needs to scale up its operations.
Airtel Africa announced that its wholly owned subsidiary, Airtel Uganda intends to list on the Main Investment Market Segment of the Uganda Securities Exchange. The initial public offer will consist of 8,000,000,000 ordinary shares, representing 20% of the company.
DealMakers AFRICA is the Continent’s M&A publication.
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