MEST Africa has disclosed that it will invest $100,000 each in seven startups after the graduation of its Class of 2020. The seven startups were selected from the 15 teams that participated in the final pitching event.
Asides from the investment, the startups will also participate in MEST’s ongoing incubation programme.
The Managing Director of MEST Africa, 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 7 companies we have decided to invest in and look forward to continuing our support and mentorship as they launch their businesses across the continent.”
The seven startups to receive $100,000 each are:
- Shopa, a last-mile ordering and delivery startup for informal retailers in Africa.
- Heny, a platform for young professionals to change the way diners eat through the discovery of new tastes and experiences.
- Boxconn, a startup that provides a list of verified delivery partners closest to interested businesses and individuals.
- KPILens, a platform that automates and makes it easier for development organisations to report, monitor, and evaluate.
- Tendo, is an online platform that connects independent resellers to businesses, to address unemployment and gender inequality.
- Joovlin, a startup that allows fintech platforms and merchants to increase their revenue by interconnecting mobile wallet users and enabling them to transact with each other.
- Eleka streamlines customer onboarding processes that are often seen as cumbersome and with labour intensive steps.
The other seven startups that did not receive funding from MEST are Move In Rentals, Credia, Uyolo, VendoorPro, Trastea, Cornerstock, Colibri, and JidiTrust.