Madica Expands new investment Portfolio in Three Startups

Madica, a structured investment program for pre-seed African startups, has announced new investments in three tech-enabled startups. The three startups include Kilimo Fresh, Hakimu, and Biovana. These investments further reinforce Madica’s commitment to supporting founders and startups often excluded from traditional venture funding.

 

Each company has secured up to $200,000 in funding and will take part in Madica’s 18-month program. This includes a tailored curriculum, hands-on mentorship, executive coaching, and two fully funded immersion trips to key technology ecosystems, both locally and internationally. The startups will also gain access to Madica’s global investor network, helping position them for growth and long-term success.

 

By backing a mix of underrepresented founders, startups from underserved regions, and innovators in overlooked sectors, the program seeks to counter the concentration of Africa’s tech funding in a few markets, verticals, and well-networked entrepreneurs and instead drive more equitable growth across the continent.

 

Launched in 2022, Madica is a sector-agnostic investment program designed to address structural gaps in Africa’s startup ecosystem. The program tackles key challenges startups face, such as limited access to capital, a scarcity of investors, and insufficient mentorship. It also provides the structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.

 

• Kilimo Fresh (Tanzania), co-founded by Baraka Chijenga and Justice Mangu, connects smallholder farmers in Tanzania to reliable urban markets by aggregating, processing, and distributing fresh produce through a technology-enabled supply chain, aiming to reduce food waste.

 

• Hakimu (Kenya), Hakimu, co-founded by Rawan Dareer, Ahmed Ahmed and Ahmed Elbashir is building a pan-African legal infrastructure leveraging the power of AI.

 

• Biovana (Nigeria), co-founded by two female founders, Estelle Dogbo and Dr. Jumi Popoola, is a data harmonisation and certification platform focused on unlocking African health datasets for global pharmaceutical, AI, and clinical research applications.

 

Commenting on the new portfolio companies, Emmanuel Adegboye, Head of Madica, said, “Each new investment brings us closer to the portfolio we set out to build, one that reflects the full breadth and diversity of African entrepreneurship. These three startups join a growing community of founders we’re backing with the resources, relationships, and runway they need to succeed at this early stage. The opportunity across the continent is enormous, and we’re committed to being a crucial and consistent partner in realising it.”

 

“Joining the Madica portfolio is a significant moment for Hakimu. We’re revolutionising access to justice across Africa, and having a partner that understands the specific challenges and opportunities of scaling in Africa makes a real difference,” said Rawan Dareer, co-founder and CEO of Hakimu. “We’re grateful for the trust, looking forward to the hands-on support, and clear-eyed about the work ahead.”

 

As part of its effort to drive more equitable growth across the continent, Madica has released the first edition of its fundraising guidebook series, Zero to Funded: A Founder’s Guide to Pre-Seed Fundraising in Africa. The 75-page guide is designed as a practical resource for early-stage African founders navigating their first raise, often without access to strong networks, accelerators, or prior fundraising experience.

 

It covers key areas such as common myths that can derail early investor conversations, how to decide whether to raise funding by understanding the realities and trade-offs of venture capital, and how to balance local market dynamics with global investor expectations. The guide also includes practical toolkits, templates, and checklists that founders can use directly in their fundraising journey.

 

Madica has also appointed Tauriq Brown as a mentor. A seasoned venture builder and former CEO of TooMuchWiFi, one of Africa’s fastest-growing internet infrastructure companies, he brings extensive experience in scaling high-growth businesses through roles at Rocket Internet and Mountain Partners. He will support founders with practical, execution-focused insights to accelerate growth.

In line with its mandate and to further consolidate its pan-African reach, Madica continues to seek opportunities to invest across the continent. To pitch your startup, visit the Madica website. Eligible startups must have a minimum viable product (MVP) with proven traction of a few paying customers, founder(s) engaged full-time, have received little or no institutional funding, and must be headquartered in Africa.

The full Madica team and portfolio will be gathered in Morocco between 6th and 13th April, for an immersion trip coinciding with Gitex Africa. The trip will offer expert-led sessions, hands-on workshops covering investment readiness, organisational culture, and team building, and dedicated time for the teams to connect with investors, customers, and ecosystem partners.