INSUBCONTINENT EXCLUSIVE:
Pan-African incubator MEST announced investments in 11 startups from its 2019 cohort that will each receive $100,000 in financing.The $1.1
will launch in four countries: Nigeria, Kenya, Ghana and South Africa
The startups offer goods and services across diverse sectors, from agtech to fintech to beauty and entertainment (see full list
below).Ghanaian fintech startup Bezo Money will use the funding from MEST to launch its app aimed at formalizing and digitizing West
and investment recipient Zuri has created a platform to organize, review and connect beauty services and professionals to clients online
The company will use its investment funds on product development and business development.MEST takes equity in its portfolio startups, which
have 18 months of incubation support from the organization, including the option to work out of MEST incubators in multiple African markets,
according to Ravichandran.MEST will continue its entrepreneurial training programs, aimed at shaping founders who can launch companies, and
For several years, the incubator has discussed forming a full on VC fund.That could be imminent
has seen a boom in tech hubs over the last decade that have become focal points for startup formation, digital skills building, events and
IT activity.A joint GSMA, Briter Bridges report tallied 618 tech hubs across the continent
toward more fee-based services and investment activities to generate greater operating revenue
the 11 ventures from its 2019 class that earned $100K seed rounds:Massira: a social support network and healthcare service aggregator for
women,launching in GhanaBezoMoney: a digital savings platform for traditional savings groups, launching in GhanaFarmula: a web and USSD
platform to create a direct connection between farmers and businesses using an automated process to increase order efficiency, launching in
KenyaCoFundie: a platform for crowd-sourcing funds for the development of buildings using cost efficient and time-saving techniques,
launching in NigeriaNiqao: a financing platform that connects merchants and lenders to enable them to offer customers the option of paying
in installments, launching in GhanaSaada: a messaging and mobile money ticketing services for increasing digital sales and data collection,
launching in KenyaNadia: a personalized automated health companion that provides quick medical attention and prescriptions, launching in
KenyaKweza: a service that enables informal retailers to order products at the best price and receive deliveries directly to their stores,
launching in South AfricaCoVibes: a platform that pairs verified studios and producers, allowing them to list their profiles and manage
bookings while enabling artists to find and collaborate with them and each other, launching in NigeriaAdi+Bolga: a platform using the power
of technology and community to gather data and create conversations around the black skin and black skincare, launching in GhanaZuri: a
platform that helps beauty professionals manage their customers and provides an easy way for people to find and book beauty services,
