an investment program for pre-seed start-ups is expanding its North African portfolio by investing in two artificial intelligence (AI)-powered companies, connecting them to its global investor network and positioning them for growth.
The start-ups; Anavid (Tunisia) and Hypeo AI (Morocco) will be receiving up to $200,000 in funding from Madica and will join an 18-month program, which offers a tailored curriculum, mentorship, executive coaching, and two fully-funded immersion trips to key technology ecosystems, both locally and internationally.
According to Madica, the initiative reinforces its commitment to supporting founders and start-ups often excluded from traditional venture funding.
The program aims to counter the concentration of Africa's tech funding in a few markets, verticals, and well-networked entrepreneurs by supporting a mix of under-represented founders, start-ups from underserved regions, and innovators in overlooked sectors, resulting in more equitable growth across the continent.
Additionally, the curriculum addresses significant difficulties that start-ups confront, such as limited access to funding, a scarcity of investors, and insufficient mentorship.
It also provides the structured support required for start-ups to address crucial issues and promote innovation, entrepreneurship, and wealth development across the continent.
Furthermore, the funder is working with the African Business Angel Network to increase investment flow and ecosystem networks for its portfolio firms.
Commenting on the new portfolio companies, Emmanuel Adegboye, head of Madica, said: “At Madica, we believe and continue to prove that some of the world’s most transformative ideas come from places that are too often ignored. The founders we’ve just welcomed are visionaries, building solutions with the power to uplift communities and shape industries.”
Meriam Bessa, co-founder and CEO of Hypeo AI added: “Our region is rapidly growing with creative energy, but without the right digital backbone, it often goes untapped. We’re changing that by using AI to re-imagine how brands and creators find each other, collaborate, and thrive. Backing by Madica will help us strengthen our AI capabilities to achieve this goal.”
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