Ethiopian Tech Talent Groomer & Outsourcer Gebeya Closes USD 2 Mn Seed Round
Ethiopian tech talent training and outsourcing company, Gebeya Inc, has closed a USD 2 Mn seed round co-led by Partech and Orange Digital Ventures, with participation from Lagos-based Consonance Investment Managers.
Since its establishment in 2016, Gebeya has been making an impact by building Africa’s next-generation workforce with a view to positioning the continent for the benefits of the continuously expanding digital economy.
To date, the edtech startup claims to have graduated over 600 tech talents, more than a third of whom have been matched with startups across Africa and the rest of the world. Besides that, many Gebeya graduates also go on to start their own companies and products.
Having previously benefitted from a number of grants including a USD 500 K grant from the International Finance Corporation (IFC) to provide scholarships to aspiring female developers, Gebeya has now closed a seed round with a view to scaling up its model by implementing several vital changes to its ecosystem.
As spelled out in a LinkedIn post put up by Amadou Daffe, CEO/Co-founder of Gebeya, the company wants to play a key role in the campaign for capturing and channeling Africa’s true potential.
“This investment, made possible by global investment firms dedicated to Africa’s technological advancements, marks a pivotal moment for Gebeya,” says Daffe via the post.
“The company has been strongly committed to bringing the abundant capacity of Africa’s youth to light. This investment will enable us to further strengthen the community of top-notch tech talents and position Gebeya as the go-to for other companies as well as startups.”
He added, “Through this investment, Gebeya will be at the forefront of the digitization and utilization of Africa’s potential.”
Each of these VC firms that participated in Gebeya’s seed round — Partech, Orange Digital Ventures, and Consonance Investment Managers — is known to demonstrate support for growth and impact through investments in various enterprises across the continent. And that was an important factor in closing the deal.
This sentiment is shared by Hiruy Amanuel, angel investor and co-founder of Gebeya, who expressed delight at dynamics between the bunch.
“We are truly excited to be working with such a great group of investors,” says Amanuel. “They have been very supportive of our initiatives through the years and naturally, the relationship has matured into early-stage funding.”
Armed with this fresh investment, Gebeya has its sight set on scaling up its training and marketplace services in Francophone Africa, as well as launching its online African talent marketplace.
The online platform will provide substantial transparency for clients in choosing ideal talents best suited for their projects.
With the fourth industrial revolution already upon us, Gebeya is sticking itself right in the middle of the action, tackling social and economic issues through education and capacity building.