Madica Invests in Four African Startups to Drive Innovation and Growth

Madica Announces $800,000 Investment in Four African Startups

Madica, a pre-seed investment program dedicated to nurturing early-stage startups in Africa, has unveiled a new $800,000 funding initiative, which will be distributed among four high-potential startups. Each selected startup will receive $200,000 in funding, accompanied by an 18-month tailored investment program designed to drive growth, innovation, and long-term business sustainability.

The program features a highly customized curriculum, direct mentorship, and executive coaching from seasoned industry leaders, including Yoeal Haile, the co-founder of fintech firm Sava. Additionally, founders will gain access to two-week, fully sponsored immersion trips to leading entrepreneurial ecosystems in cities such as London and Cape Town. This initiative is strategically structured to help startups scale efficiently, secure follow-on funding, and build a strong foundation for long-term success.

The Four Startups Selected for Investment

• Medikea (Tanzania): Founded by Elvis Silayo and Desire Ruhinda, Medikea is a digital healthcare platform that integrates telemedicine with physical healthcare facilities to improve access to both primary and specialized medical services.
• Motherbeing (Egypt): Led by Nour Emma and Yousef Elsamaa, Motherbeing utilizes AI-powered technology to provide health and wellness solutions tailored to Arab women. The platform offers AI-driven guidance, educational resources, and diagnostic tools.
• Pixie Motors (Tunisia): Established by Anis Fekih and Wafa Dhifi, Pixie Motors specializes in sustainable urban mobility, developing eco-friendly electric vehicles for city transportation and last-mile delivery services.
• ToumAI (Morocco): Founded by Odin Demassieux, Imade Benelallam, and Yousef Rhamani, ToumAI leverages AI and large language model (LLM) voice analytics to deliver multilingual customer insights and voice-based solutions. The startup recently secured an additional $1 million investment to enhance AI-driven capabilities across Africa.

Madica’s Commitment to African Startups

Since its inception in 2022, Madica has been instrumental in supporting early-stage African startups by addressing key barriers such as access to capital, mentorship, and market expansion. In its first year, the program successfully backed eight startups and secured six additional investments. The initiative has also exceeded its gender diversity target, achieving 50% female representation in leadership teams while supporting women-led startups across eight countries and six industry sectors.

Earlier in 2024, Madica invested $200,000 in three African startups—Kola Market, GoBEBA, and Newform Foods—as part of its first investment initiative.

Madica operates in partnership with Flourish Ventures, a global fintech venture capital firm, with a shared vision of empowering African entrepreneurs through strategic financial support and world-class business expertise.