DealMakers AFRICA

Nigerian food delivery service, Chowdeck has raised US$2,5 million in seed funding. Investors included Y Combinator, Goodwater Capital, FounderX Ventures, HoaQ Fund, Levare Ventures, True Culture Funds, Haleakala Ventures, Simon Borrero, Juan Pablo Ortega, Shola Akinlade and Ezra Olubi.

Ethiopian plastic upcycling startup, Kubik, has raised US$1,9 million in a seed extension round. This latest funding was secured from African Renaissance Partners, Endgame Capital and King Philanthropies. Kubik turns hard-to-recycle plastic waste into low-cost, low-carbon, interlocking building materials and is looking at pan-African growth in 2025.

Specialist agriculture investor AgDevCo has taken a significant minority stake in Agris, the agricultural division of early-stage investment group Maris. Agris has three operating companies – Evergreen Fresh, Evergreen Herbs and Evergreen Avocados. Financial terms were not disclosed.

Australian Bitcoin exchange Igot, has acquired Kenyan crypto exchange and remittance gateway, TagPesa for an undisclosed sum. The company has also been granted access to M-Pesa, giving users the ability to cash out directly from the mobile payment system.

Renda, a Nigerian order fulfilment specialist that provides end-to-end fulfilments solutions for businesses across Africa, has secured US$1,9 million in debt and equity pre-seed funding. Ingressive Capital, Techstars Toronto, Founders Factory Africa, Magic Fund, Golden Palm Investments, Reflect Ventures, and Vastly Valuable Ventures provided the $1,3 million in equity funding, while the debt funding investment of $600,000 was provided by Founders Factory Africa and SeedFi.

Kenyan travel booking platform, BuuPass has announced the acquisition of Nigerian and South African based, QuickBus. Financial terms were not disclosed. BuuPass, backed by investors such as Founders Factory Africa and FrontEnd Ventures, raised US$1,3 million in 2023 and is looking to expand into other African countries.

Ignite Power has announced the acquisition of West African Distributed Renewable Energy solutions provider, Oolu. Headquartered in Senegal, Oolu is a Y Combinator accelerator graduate that operates across West Africa. Financial terms of the deal were not disclosed.

DealMakers AFRICA is the Continent’s M&A publication
www.dealmakersafrica.com