For startups, securing funding is a fundamental yet challenging task- over 90% of startups fail to acquire enough capital to get off the ground. Fortunately, equity financing offers early-stage companies a compelling funding avenue. Equity funding works by selling ownership shares in exchange for investor capital, allocating a portion of the company’s equity to external backers. This structure allows ambitious startups to raise substantial financing without burdensome debt. The process involves several funding rounds like Series A, B, C, D, and E. These various rounds of financing that startups or companies go through are to raise capital from investors at different stages of their growth journey. Each round represents a stage of development, and the funding obtained in each round helps the company achieve specific objectives and milestones . Seed Funding Before Series A, B, C, D, and E funding, there is seed funding. Seed funding refers to the initial stage of capital funding for a...

Investors have backed an African startup that is helping brands source critical data before entering into markets.

Adventr — an interactive streaming platform — is looking to disrupt the tech world with its patented voice-control technology. Founded by Devo Harris, a Grammy-award-winning producer, Adventr serves as a low-cost, easy-to-use SaaS platform and it’s just closed a $5 million seed round, according to a press release shared with AfroTech.

Alfluence, a Kenya-based influencer marketing platform, has announced that it has secured $1 million in seed funding. TechCrunch is reporting that the company, which was founded by Nelson Aseka, George Issaias, Lamusia Anzaya, and Ankit Jindal in 2019, had the funding led by the Dubai-based company EQ2 Ventures. Other investors include Antler East Africa, Oui Capital, ArabyAds, and an unnamed European family office. “We are at the cusp of a revolution. Globally the way marketing works is changing. We find ourselves at an intersection of advanced technology and the fastest-growing region in the world in terms of digital and social media penetration. It’s an exciting place to be. Africa’s rich tradition for storytelling is alive and kicking,” said Aseka, the CEO of Alfluence, in a statement made to TechCrunch. “People are the new media in today’s digital world, and AIfluence is uniquely positioned to turn this reality into tangible results for advertisers. We’ve been impressed by the...

Citi announced a $200 million Impact Fund dedicated to making equity investments in U.S.-based companies that strive to achieve measurable social and financial outcomes. So far, Citi has donated to 11 women and minority-owned businesses, and each individual investment can reportedly reach up to $10 million. The most recent round includes three Black-led startups dedicated to making a positive impact on society, as reported by The Grio. One of the focus areas of the fund were companies with solutions in financial inclusion. Clerkie, one of the three recipients, is an AI financial planner that helps users escape debt and build credit. It was founded by Guy Assad with the purpose of providing financial literacy and democracy for middle class Americans. The second recipient, Perch is also an app that focuses on solutions in financial inclusion. Founded in 2019 by Michael Broughton, Perch was created as a way for users to build credit through their already recurring expenses such as rent...

Gentem , a health services reimbursement company, recently closed its initial round of venture capital funding with an impressive $3.7 million. The funds signal good news and speedy growth for a company that is less than one year old, placing Gentem on the fast track to becoming an invaluable contribution to the healthcare industry. If not for the vision of one aspiring doctor, Gentem may never have come to be. A passion for patient care led Fisayo Ositelu — MD, CEO, and co-founder of Gentem — to pursue his dream of becoming a doctor. However, his clinical experiences led to the realization that patient care was only one major aspect of becoming a physician. The role was also fraught with time-consuming billing issues and other administrative complexities. While Ositelu went on to obtain the medical degree, he stopped short of practicing when he conferred with other physician friends who noted the same frustrations he had. The “physician fatigue” that they observed is underscored by...