Pan-African incubator, MEST Africa will invest a combined $700,000 in seven early-stage startups from its 2020 graduating cohort.
The selected seven startups were selected from the fifteen teams that participated in the final pitching that was held virtually. Each startup will receive $100,000 and also take part in MEST’s ongoing incubation programme.
The startups receiving funding food delivery startup Ghanaian Heny, Ghanaian retail-tech platform Shopa, Nigerian e-wallet service Joovlin, Ghanaian cloud-based monitoring and evaluation platform KPI Lens, customer on-boarding platform Kenyan Eleka, delivery service Ghanaian Boxconn, and Ghanaian reselling service Tendo.
“We are blown away by the perseverance and talent we have seen in our entrepreneurs this year, as it has been a year filled with unexpected twists and turns,” MEST managing director Ashwin Ravichandran said.
“This was the first time our entrepreneurs were trained mostly virtually and away from our campus, and I am proud to say they have come out stronger than ever. We are incredibly excited about the seven companies we have decided to invest in and look forward to continuing our support and mentorship as they launch their businesses across the continent. Our pan-African network of hubs and partners will allow the companies to position themselves in the best possible market for their entry and future expansion.” he added.
The MEST Africa 2020 7 startups now join over 40 startups across Ghana, Kenya, Nigeria, and South Africa in the incubator’s portfolio.