Participated · Seed · Jun 2023

Kubik uses proprietary technology to upcycle plastic waste into low‑carbon, durable, and affordable interlocking building materials such as bricks, columns, beams, and jambs. The company operates a factory in Addis Ababa and currently recycles 5,000 kilograms of plastic per day, with a capacity of 45,000 kilograms per day. Its materials have passed safety tests by Intertek covering strength, toxicity, and flammability. Kubik says its products allow wall construction without cement, aggregates, or steel and can reduce costs by at least 40% per square meter. The startup has partnerships with corporates and the Addis Ababa municipality for a regular supply of plastic feedstock and is exploring near‑term product diversification into pavers and flooring. Kubik plans to out‑license its technology to scale across Africa from 2025 and eventually pursue global growth; it was co‑founded by Kidus Asfaw and Penda Marre in 2021. Kubik upcycles hard-to-recycle plastics (polyethylene, polypropylene, and polystyrene) into interlocking building materials such as bricks, columns, beams and jambs that enable wall construction without cement, aggregates, or steel. Its products are engineered to match the strength of cement-based walls while costing at least 40% less per square meter and producing at least five times lower greenhouse gas emissions. The company reports removing 45,000 kg of plastic waste from landfills every day and says its Ethiopia plant can produce over a quarter million square meters of wall surface annually — enough for up to 10,000 affordable homes per year. Kubik plans to scale production at its Ethiopia facility later this year and then expand to other African countries, building on operations in Kenya and Ethiopia. The startup emphasizes affordable, low-carbon housing solutions and has received recognition including Startup of the Year at the 2023 Global Startup Awards and being named the leading climate tech startup in Africa at VivaTech.

Participated · Seed · Jun 2022

Afropolitan is a community-as-a-service startup that connects the African diaspora through events, travel, media and online community-building. Founded in 2016 by Eche Emole and Chika Uwazie, the company grew its audience via events and social audio (50,000 Clubhouse followers) and the founders’ combined following of over 200,000. Its core product vision is a phased “internet country” built with community tools including passport NFTs, a DAO and a super app offering remittances, e-residency, incorporation services and learn-to-earn initiatives. The company plans to mint 10,000 passport NFTs to activate its DAO and grant members access to events and physical spaces. Later phases target building seed institutions, subsidiary funds and negotiating for physical land to pursue sovereignty. Afropolitan has raised $2.1M in pre-seed to kick-start product development and community growth.

Participated · Seed · Nov 2021

Root offers insurance APIs and a low-code digital insurance platform that sit on top of insurers so businesses and developers can build, integrate and launch insurance products into websites, chatbots and mobile apps. The company began with programmable bank accounts and cards but has since made insurance APIs its core offering. Root primarily targets non-insurance companies (telcos, retailers and banks) and affinity insurance players; clients include Mr Price Money, FinChoice, Telkom, Metropolitan, Sanlam and Guardrisk. Its platform has processed millions of policies and thousands of claims each month. Root generates revenue via subscription licensing fees priced by client size and complexity, and it also handles compliance and customer reach channels for its customers. With the new funding, Root plans to roll out its flexible low-code platform into other markets, particularly Europe, while keeping a large part of its team in South Africa.

Participated · Seed · Mar 2019

FlexClub is an online marketplace that connects customers to flexible long-term car subscriptions, offering a hybrid of short- and long-term leases with all-inclusive monthly fees. Subscribers can cancel, switch cars, or purchase vehicles; drivers earn points for safe driving that reduce purchase prices. The company uses banking, credit bureau and identity data to assess member risk and to protect partners’ exposure. It began by serving ride-hailing drivers (commercial members) and has opened the product to private members, partnering with platforms like Uber and rental company Avis, plus small and multinational fleet owners. Founded in 2019 and launched in South Africa, FlexClub expanded to Mexico and says it may pursue other emerging markets over time. The company raised a $5M seed extension (equity and debt) to improve its technology and risk protections, bringing total funding to over $6M. FlexClub operates a platform that matches investors to cars and connects those vehicles to ride‑hailing drivers, who pay a weekly rental from their earnings. Investors use the platform to buy a car; FlexClub generates revenue by charging a percentage of the rental income to investor club members. The company is registered in the Netherlands and is described as Joburg‑based; the platform launched to a small test group in November and went public to investors two weeks before the article. FlexClub reports about $3 million in assets under management in South Africa. The startup plans to expand from Africa through a partnership with Uber Mexico, beginning work in Guadalajara next month and sourcing investors via dealers and insurance brokers rather than hiring local staff. Founders include former Uber employees Tinashe Ruzane (CEO), Marlon Gallardo and Rudolf Vavruch.

Participated · Equity · Mar 2017

Unicaf operates a mobile-friendly online higher education platform that offers accredited undergraduate and postgraduate degree programs in collaboration with universities in the UK, US, Europe and Africa. The company blends online instruction with on-the-ground instructional centres and virtual coaching to provide flexible delivery modes. It focuses on affordable, quality university degrees for underserved markets. Unicaf currently has more than 16,000 students enrolled in its academic programs. The company was founded in 2012 by Dr. Nicos Nicolaou, who serves as CEO. Future plans include expanding program offerings and opening up to five additional African campuses over the next five years to grow enrolment. UNICAF offers flexible online and blended-learning degree programs designed to expand access to international-standard higher education across Africa. Its model is presented as cost-effective—around 80% more affordable—and enables students to combine study with full-time work. The organisation is accelerating development of on-the-ground learning centres across African cities and plans expansion into Burundi, Cameroon, Cote d’Ivoire and Mozambique. UNICAF already operates in hard-to-reach countries including Zimbabwe, Somalia and Malawi and delivers impact across multiple African markets listed by the investor. The business model aims to create over 1,000 new jobs through its network of learning centres. UNICAF’s domicile is listed as Cyprus and it is classified in the Consumer - Education sector. Unicaf is an online platform that partners with western universities to offer locally accredited degrees to African young professionals. Founded in 2012 and based in Larnaca, Cyprus, the company provides largely online study options so students can continue to work while studying. It has grown to over 8,000 students and was on track to reach over 60,000 students by the end of 2020. The company secured $12M in funding to support expansion plans. Unicaf intends to use the funds to roll out education learning centres across African cities and to complete the establishment of a university campus in Malawi. Backers in the funding included CDC Group, University Ventures and Savannah Fund.