JULY 25, 2022

3 min Read

Investor Updates: July 25 2022

Yamaha and Max announce partnership to scale MAX’s services

Yamaha and Max announce partnership to scale Max's services
Image from TechCabal


  • Metro Xpress Africa (MAX) has announced a partnership with Yamaha’s Nigerian Subsidiary, Moto Business Service Nigeria(MBSN) to finance and maintain over 50,000 vehicles over the next 2 years.
  • Independent Commercial drivers using a MAX platform will be able to acquire a variety of vehicles for use in their businesses through a single low-cost membership and drivers access to a 2-wheeler, 3-wheeler, 4-wheeler services and other extra services to thousands of drivers in the Nigerian market and across Africa.
  • The partnership will expand MAX’s operations in Nigeria, Ghana, and Cameroon and fast-track its goal of serving 100,000 independent drivers by the end of 2023

Source: TechCabal

Our Takeaway

With MAX attaining a milestone of 1000million kilometers, this collaboration will enable MAX further democratize the access to vehicle subscriptions around Africa and the mobility of entrepreneurs across various points. The partnership with Yamaha will allow MAX to onboard vehicles across various cities and generate employment for the youth in the various African cities of operation

Egyptian B2B e-commerce Platform Cartona raises $12m to scale and explore new verticals

Image from TechCrunch


  • Cartona is one of the major players digitizing the traditional market, including FMCG products, wholesalers, and distributors in Egypt has raised $ 12 million in Series A funding 
  • This round was led by Jordan and US-based early-stage venture capital firm Silicon Badia, other investors included, the SANAD Fund for MSME, an impact investment fund for Middle East and North Africa, Arab Bank Accelerator, and Sunnyside ventures 
  • The investment will allow the startup which was launched in 2020 to cover all of Egypt’s governorates, grow its product, technology, and services, and explore new verticals beyond FMCG.

Source: TechCrunch

Our Takeaway

Startups that solve the supply chain and operational challenges of players in the fast-moving consumer goods industry (FMCG) by helping buyers access products from sellers on a single platform keep attracting venture capital from investors due to its large and stable market. Cartona being one of the leading players in the Egyptian market and being launched just in 2020 is proving investors and enthusiasts right to expand from 3 to 11 Egyptian cities in just one year.

Seedstars International Venture II raises $20m to invest in 100 seed-stage tech startup in emerging markets

Seedstars set to invest in 100 start-ups, including Africa - Ventureburn
Image from Ventureburn


  • In 2013, three Swiss tech entrepreneurs decided to launch an international organization, Seedstars, a seed stage venture capital fund dedicated to global emerging and frontier markets.
  • Seedstars has announced the launch of its second seed stage fund, Seedstars International Venture II to invest in 100 pre-seed and seed stage tech startup companies in emerging companies in Africa, Asia, the Middle East, North Asia, and Latin America in the next three years.
  • To support this fund, Seedstars said it raised $ 20 million from notable investors including International Finance Corporation(IFC), Visa Foundation, The Rockefeller Foundation, and Symbiotics. The fund is expected to reach $30 million
  •  The new funding comes after Seedstars has invested in 90 companies/venture ecosystems in over 30 emerging countries from Bogota, India, to Lagos, Nigeria, and Karachi, Pakistan

Source: Ventureburn

Our Takeaway

The 9-year-old investment company, Seedstars said that the investment company is seeking to diversify and leverage on lessons learned to invest in other markets. This will help them see a trajectory in industries based on the different trends and times in the different markets. Seedstars’ focus on supporting scalable technology companies in emerging markets, solving major societal challenges like access to finance, health, or education, and working closely with entrepreneurs to scale their businesses means that the impact thesis is embedded in the investment thesis. The fund also includes a blended finance component with a first-loss tranche that provides downside protection for investments in the lowest-income markets.

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Rest of Today's Updates

SEPTEMBER 19, 2022

3 min Read

Investor Updates: September 19 2022