Founders Factory Africa has selected five new startups into its Venture Scale programme, backed by Standard Bank and Netcare.
Founders Factory Africa’s Venture Scale programme will invest $40,000 into the startups to help them scale their product development, UX/UI, data science, engineering, business development and growth marketing.
The five startups comprise one from Kenya, one from Nigeria and three from South Africa and have started the Venture Scale programme on Monday, February 3, 2020.
The startups include;
Bwala Africa, a Kenyan last-mile order fulfilment network designed to connect fleet operators and large FMCG manufacturers with retailers, for a fast convenient, order-to-delivery end to end experience.
Foodlocker, a Nigerian based company, which forecasts foodstuff demand through deep machine learning, thus enabling large-scale buyers to efficiently procure fast-moving consumer goods and fresh produce from smallholder farmers.
LocumBase, a South African independent, online booking and management platform that provides real-time availability of verified locum medical professionals, by assisting practices in need of short-term, qualified stand-ins, who are able to provide quality care when needed most.
Akili Labs, a South African startup which leads the way in low-cost point of care, rapid diagnostics – capable of testing for viruses, bacterial and fungal infections.
EnvisionIt Deep AI, a South African platform that improves the speed and accuracy, with which a radiologist can diagnose and prioritise chest x-rays for further analysis using AI algorithms.
According to co-founder & CEO of Founders Factory Africa, Mr Roo Rogers, “From point-of-care DNA testing to agricultural logistics, the Founders Factory Africa portfolio has the potential to truly drive economic growth and transform the continent. We’re incredibly excited to be part of the growth of these businesses and to deliver their true scale potential.”
The startups will also receive help to up their distribution channels, customer acquisition, pilots, data, IP and expertise among others.
Last year, Founders Factory Africa (FFA) invested $40k each into its first five fintech startup businesses in Africa in partnership with its investor South Africa’s Standard Bank.
Based in South Africa and operating across Africa, Founders Factory Africa runs a corporate-backed accelerator and incubator with plans to build and scale 140 tech-based startups over the next five years in Africa.
The startups included Schoolable, Digest Africa, LipaLater, Kudigo, Allpro, and EazyHire which co-founder & CEO of Founders Factory Africa, Mr Roo Rogers said, “Represent the best of African leadership and innovation. Our investment and focus on growing pan-African products and market solutions will enable these exceptional entrepreneurs to address the needs of millions of people and deliver scaled financial and impact returns across the continent. Together with our multi-national corporate investors we are excited to support these business on their pathway to scale.”