If you talk about the Tanzanian tech ecosystem, you are always going to mention milestones like Kopa Gas’s $25 million acquisition, Ramani’s $32 million round, Nala’s $40 million round, Credable’s $2.5 million round, EA Fruit’s $2 million round, and others. But it is easy to forget that these companies were once pre-seed startups. As someone once said, the future of an ecosystem doesn’t look promising when there are few or no pre-seed startups.
So, who is seed funding Tanzanian startups? That’s what inspired me to write about them below, believing it could help fellow founders identify who has already invested in Tanzanian startups and encourage them to reach out.
- Funguo Program by UNDP Tanzania; so far the program has granted $1.5 Million to 42 Tanzanian startups from Fintechs, Edtechs and more. Some of the Tanzanian companies that were funded by Funguo are Settlo, Mtabe, Waga, Sheria Kiganjani, Amala and others.
- PesaTech Accelerator by UNCDF Tanzania; The program focuses on startups that are Fintechs or have the potential to incorporate Fintech elements in the future. It provides up to $15K to each selected startup and helps them build their capacity to attract investment through an Investor-Readiness Program (IRP). Additionally, it serves as a marketplace connecting startups with strategic partners and investors. Some of the Tanzanian startups that have been funded by Pesatech are Eldizer, Kiasi, and BizyTech.
- DeveloPPP Ventures by The German Federal Ministry for Economic Cooperation and Development (BMZ); The fund focuses on young companies, whose innovative business model improves living conditions in a developing or emerging country and who are planning to scale up. Via a matching-funds model, it provides non-dilutive capital of £100K. Some of the Tanzanian startups that have been funded by DeveloPPP are TemboPlus, Safiri, Silabu, YesID, Medikea and Dawa Mkononi.
- Mastercard Foundation EdTech Fellowship; The program focuses with Tanzania Edtech startups that has a bold target of impacting over 200,000 learners annually, especially in the most vulnerable communities in Tanzania. It supports startups with up to $70K together with technical support, business support and compliance support. Some Tanzanian startups that have been funded by this program are Mtabe and Fiqra.
- Vodacom Digital Accelerator; Led by Tanzania’s largest telecom and mobile money operator, the Vodacom Digital Accelerator provides grants, technical and business support to Tanzanian startups, helping them grow and leverage Vodacom’s ecosystem for market entry. Some startups that have participated in the Vodacom Digital Accelerator include Afya Lead, Silabu, AltitudeX, and GO GO App.
- CATALYST FUND; The fund invests $200K in pre-seed startups and provides follow-on funding at the Seed and Series A stages for founders developing tech solutions for climate adaptation and resilience. Some of the Tanzanian startups that have been funded by Catalyst Fund are Medikea and MazaoHub.
- The Next Fund by Ennovate Ventures; The fund supports startups with seed capital and venture assistance, providing up to $100K per startup across various sectors. Some of its Tanzania portfolio startups include Medpack and Swahilies.
- Warioba Ventures; The firm provides capital, corporate networks, technical expertise, market knowledge and mentorship. It’s Tanzania portfolio startups include Tunzaa and Dawa Mkononi.
- Startup Wise Guys; The Global VC which launched its Africa accelerator a few years ago invests €65K and provides an optimized approach that delivers tailored guidance and support from world class mentors and experts. The Tanzanian startup that was funded by this accelerator is Tunzaa.
- Baobab Network; The Accelerator invests $100K into startups and provides funding, hands-on support and access to a powerful global network to help Founders become industry leaders. Tanzanian startups that are funded by Baobab Network are Medikea and Swahilies.
- Y-Combinator; The world’s most valuable accelerator invests $500K in each company it accepts into its batch program and provides programs and support for founders on how to market their product, refine their teams and business models, achieve product/market fit, and scale the startup into a high growth business. The Tanzanian startups that are funded by Y-Combinator are Nala and Ramani.
- Launch Africa; The Pan African VC invests in seed and pre series A African startups In Tanzania Launch Africa has invested in Credable and Inalipa.
This article first appeared on Finetech Africa
