Founders Factory Africa has admitted five more African tech startups into its ever-growing portfolio. Founders Factory Africa through the Venture Scale Programme provides US$40,000 in investment viable and scalable tech startups.
The Venture Scale Programme is aimed at accelerating the growth of fintech and healthtech startups in Africa and the programme is expected to begin this month.
The African tech startups that have been selected for the Ventures Scale Programme are:
1.) LocumBase, an independent, online booking and management platform that provides real-time availability of verified locum medical professionals.
2.) Akili Labs, which develops a low-cost point of care, rapid diagnostics solutions.
3.) EnvisionIt Deep AI, which helps radiologists diagnose and prioritise chest x-rays for further analysis using AI algorithms.
4.) Bwala Africa
Bwala Africa has developed a last-mile order fulfilment network designed to connect fleet operators and large FMCG manufacturers with retailers.
The agritech startup forecasts foodstuff demand through deep machine learning, thus enabling large-scale buyers to efficiently procure fast-moving consumer goods and fresh produce from smallholder farmers.
“The five businesses joining the Venture Scale programme represent some of the best of African entrepreneurship and innovation.
“From point-of-care DNA testing to agricultural logistics, the Founders Factory Africa portfolio has the potential to truly drive economic growth and transform the continent.
“We’re incredibly excited to be part of the growth of these businesses and to deliver their true scale potential,” said Roo Rogers, co-founder and chief executive officer (CEO) at Founders Factory Africa.
In addition to the hands-on support provided, the startups will also have access to exclusive partnerships with Standard Bank and Netcare.