Quick Read: Madica has invested $800,000 in four African startups—Medikea, Motherbeing, Pixii Motors, and ToumAI—focusing on healthtech, e-mobility, and AI. This marks the firm’s expansion into North Africa, bringing its total investment to $1.6 million. The selected startups will receive mentorship and ecosystem immersion opportunities. Madica aims to invest $6 million in 30 African startups by 2025.
Madica, an Africa-focused early-stage investment firm, has announced a total of $800,000 in pre-seed funding for four innovative African startups. This investment aligns with the increasing priority investors place on revenue traction, as early-stage African startups accounted for 9% of total venture funding in 2024.
The Startups Receiving Funding
Each of the selected startups will receive $200,000 in funding to support their growth and innovation. The companies include:
- Medikea (Tanzania): A healthcare startup providing instant access to medical services through its network of first-line clinics, making healthcare more accessible.
- Motherbeing (Egypt): A healthcare app for nursing mothers that offers a chat-based platform for health-related inquiries, enhancing maternal health support.
- Pixii Motors (Tunisia): An e-mobility startup manufacturing electric motorcycles with swappable batteries, promoting sustainable transportation.
- ToumAI (Morocco): A company leveraging AI-powered voice analytics to help businesses gain insights from customer interactions, improving engagement and service.
Expanding Investment and Mentorship Opportunities
Since its inception in 2022, Madica has now funded eight startups, bringing its total investment to $1.6 million. In addition to financial support, the selected startups will receive hands-on mentorship and the opportunity to participate in immersion trips to key local and global tech ecosystems.
Commitment to Gender Diversity
Emmanuel Adegboye, Head of Madica, emphasized the firm’s dedication to gender diversity, stating, “What’s particularly exciting is that we set out to build a portfolio with at least 50% gender diversity in leadership teams. We are currently exceeding that goal, with a significant portion of our portfolio featuring female CEOs.”
Aiming for $6 Million Investment by 2025
Madica was founded in December 2022 by global venture capital firm Flourish Ventures. The firm focuses on providing equity funding to startups with a minimum viable product (MVP) and dedicated full-time founders. With an ambitious target of investing $6 million in 30 African startups by 2025, Madica is driving early-stage innovation across the continent.
Strategic Expansion into North Africa
Madica’s recent investments in Egypt, Tunisia, and Morocco mark its first venture into North Africa. Previously, the firm’s portfolio consisted of startups from Southern and West Africa, including NewForm Foods, Kola Market, GoBeba, and Earthbond.
Focus on High-Growth Sectors
The investment firm prioritizes startups in healthtech, e-mobility, AI, and SaaS, supporting businesses that leverage emerging technologies. Additionally, Madica backs ventures in quick commerce, food-tech, renewable energy, and B2B e-commerce, aiming for long-term growth and profitable exits in these markets.
With this latest round of funding, Madica continues to strengthen its presence in Africa, fostering technological advancement and entrepreneurial success.
