The Baobab Network Invests USD 50 K In Five New African Startups

The Baobab Network, a Nairobi-based accelerator that invests in early-stage tech companies across Africa, has announced its latest cohort of five investees, each of which secures USD 50 K in funding. The Baobab Network has been accelerating startups with capacity building and fundraising since 2019, and accepted its last cohort at the beginning of March. Each company received a cash injection of USD 50 K and a program of bespoke and expert-led venture support. Through demo day they got access to leading angels and VCs, both in Africa and around the world. 

Two of the selected startups are from Kenya, namely ​Vutia, a B2B cosmetic marketplace that seamlessly connects informal retailers of cosmetic, beauty, and personal products with top brands and suppliers; and Tripitaca, a travel tech company that enables accommodation providers to increase their revenue by improving occupancy rates, as well as providing them with an operating system and access to affordable financial services. Medikea, a patient-centric telemedicine platform from Tanzania that offers full patient autonomy via on-demand consultation, at-home tests and diagnostics; and Swahilies, an SME book-keeping platform that allows SMEs to record their transactions and manage their businesses as well as send and receive payments are also part of the cohort. The cohort is completed by Nigeria’s Messenger, a last-mile service providing end-to-end logistics and supply chain solutions for clients in cities across Nigeria.