Madica, an early-stage investment firm focused on Africa, has announced $800,000 in pre-seed funding for four promising startups across the continent. This investment aligns with a broader shift in investor focus toward businesses demonstrating strong revenue traction, following early-stage African startups securing 9% of total venture funding in 2024.
Each of the four selected startups will receive $200,000, along with hands-on mentorship and immersion trips to key global and local tech ecosystems.
The following startups were able to secure Madica’s funding;
- Medikea (Tanzania) – A healthtech startup providing instant healthcare access through first-line clinics.
- Motherbeing (Egypt) – A femtech company offering AI-powered, culturally sensitive health tools for Arab women.
- Pixii Motors (Tunisia) – An e-mobility startup focused on eco-friendly electric transportation for urban travel.
- ToumAI (Morocco) – A SaaS company leveraging AI-powered voice analytics to help businesses extract customer insights.
With these latest investment, Madica has now funded eight startups since 2022, committing $1.6 million to its portfolio companies.
For the first time, Madica is expanding its investment footprint into North Africa, having previously focused on startups from West and Southern Africa—including NewForm Foods, Kola Market, GoBeba, and Earthbond.
Additionally, Madica is prioritizing gender diversity in its portfolio. “We set out to build a portfolio with at least 50% gender diversity in leadership teams. We are currently exceeding that goal, with a significant portion of our portfolio having female CEOs,” said Emmanuel Adegboye, Head of Madica.
Madica was launched in December 2022 by Flourish Ventures, a global venture capital firm, to support African startups with equity funding and strategic mentorship. The firm focuses on startups with a minimum viable product (MVP) and founders committed full-time to their ventures.
By 2025, Madica aims to invest $6 million in 30 African startups, further strengthening Africa’s tech ecosystem. Its diverse portfolio includes startups in healthtech, e-mobility, AI, SaaS, quick commerce, food-tech, renewable energy, and B2B e-commerce.
With a strong focus on emerging technologies and a commitment to gender-inclusive leadership, Madica’s investments position African startups for long-term growth, scalability, and potential profitable exits.
