North African Startups PraxiLabs And Think.iT To Get Up To USD 150 K In Funding

By  |  September 4, 2018

Norway-based Katapult Accelerator has included a couple of startups from Egypt and Tunisia as part of 12 exponential technology startups that have been selected to participate in its intensive three-month accelerator program.

The duo of Egypt’s PraxiLabs; a low-immersion virtual reality science lab, and Tunisia’s Think.iT; a startup that is focused on helping companies put together high-performing software development and engineering teams by leveraging the potentials of future technology leaders in North Africa, form the contingent that has made it into the program from the region.

Alongside Kenya’s cloud-based core banking system, FinAccess, which is the only other African startup selected amongst the twelve in the latest cohort, the duo will be looking to make the most of some of the perks that come with the program which include access to the accelerator’s core team, as well as a mentors network that spans over 120 experts, and up to USD 150 K in equity funding.

For three months, these North African startups will be afforded the opportunity to learn from some of the best minds in the global tech ecosystem, who will be looking to furnish the participating startups with dynamic, hands-on knowledge on how to scale their businesses and maximize impact.

Katapult Accelerator is committed to helping exponential technology startups from various parts of the globe assume their next growth phases. This it does by providing access to a network of global investors and partnerships that can foster the growth of these startups.

As indicated by Haakon Brunell, Managing Partner and Co-founder of Katapult Accelerator, the latest cycle drew applications from up to 107 countries and over 1500 companies; a feat which he described as “humbling.” He also hinted at his excitement over the unique prospect of successfully seeing the companies that made it into the third cohort through the program.

According to him, the program is tailored to meet the needs of startups that are focused on bringing about positive change on a global scale by leveraging the potentials of exponential technologies, as well as an environment of opportunities, and an ecosystem that supports their business model. The program aims to make the participating startups more attractive for subsequent investments, with a view to boosting their original valuation.


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