Madica, an investment program for pre-seed startups in Africa, has announced an $800,000 investment in four early-stage African startups. Each startup will receive $200,000 alongside an 18-month support program designed to accelerate growth, secure follow-up funding, and ensure long-term success.
The selected startups—Medikea (Tanzania), Motherbeing (Egypt), Pixie Motors (Tunisia), and ToumAI (Morocco)—span various industries, including healthcare, AI, mobility, and sustainable technology.
Madica’s investment program provides startups with a highly personalized curriculum, hands-on mentorship, and executive coaching. Founders will have access to seasoned mentors, including Yoeal Haile, co-founder of fintech company Sava. The program also includes fully funded immersion trips to key startup ecosystems like Cape Town and London.
Since its launch in 2022, Madica has actively fostered entrepreneurship across Africa by offering structured support, funding, and mentorship. In its first year, it backed eight startups and has since surpassed its gender diversity goal, with over 50% of its supported companies having female-led teams.
– Medikea (Tanzania): A digital healthcare platform that integrates telemedicine and physical health facilities to improve primary and specialized care.
– Motherbeing (Egypt):An AI-driven health and wellness startup providing educational content, diagnostic services, and AI-powered assistance for Arab women.
– Pixie Motors (Tunisia):A sustainable mobility company offering eco-friendly electric vehicles for urban travel and last-mile deliveries.
– ToumAI (Morocco): A startup leveraging AI and multilingual voice analytics to enhance customer insights and voice solutions. The company recently secured an additional $1 million investment to advance AI capabilities in Africa.
Madica has been actively investing in African startups, with previous funding rounds supporting companies like Kola Market, GoBEBA, and Newform Foods in April 2024. Later that year, Nigerian climate-tech startup Earthbound secured funding to expand solar energy solutions for SMEs.
Madica is affiliated with Flourish Ventures, a global fintech venture capital firm, as both organizations seek to empower African entrepreneurs with funding, mentorship, and access to world-class business support. With its latest investments, Madica continues to play a vital role in fostering innovation and wealth creation across the continent.
