Madica backs three startups, launches fundraising guide for first-time founders
Madica invested $600,000 in three African startups and released a fundraising guide for first-time founders.Summary
Madica, a pre-seed investment program for African startups, has invested a total of $600,000 in three new companies: Kilimo Fresh (Tanzania), Hakimu (Kenya), and Biovana (Nigeria). Each startup will receive up to $200,000 and participate in Madica’s 18-month support program, which includes mentorship, coaching, and access to investor networks. The program focuses on supporting founders often excluded from traditional venture funding.
Kilimo Fresh connects smallholder farmers to urban markets, aiming to reduce food waste and improve farmer income. Hakimu is developing an AI-driven legal infrastructure to improve access to legal services in Africa. Biovana focuses on harmonizing health data for pharmaceutical and AI research, and is notable for being co-founded by two women.
In addition to the investments, Madica launched “Zero to Funded,” a 75-page guide to pre-seed fundraising in Africa, providing practical tools and insights for first-time founders. Madica is also fostering ecosystem engagement through events like a gathering in Morocco during GITEX Africa, aiming to increase visibility and connections for early-stage founders.
(Source：Techpoint Africa)