Are you an investor in Africa or the diaspora looking for some promising African startups to invest in this year? Well, you’ve clicked on the right link! In this post, we will introduce you to some of the top African startups to look out for in 2023.
These startups are not only making waves in their respective industries but also have great potential for sustainable growth and impact. So, without further ado, let’s dive in and meet these exciting startups!
Top African Startups to look out for in 2023
First up, we have Xineoh. This South African startup is using AI to predict consumer behavior and help businesses maximize efficiency and customer satisfaction.
By anticipating what products consumers will buy with a high level of accuracy, Xineoh allows businesses to minimize unnecessary inventory and maximize working capital. Founded by Vian Chinner in 2015, this exciting company is definitely one to keep an eye on.
Next, we have HelloSolar International, a decentralized off-grid solar energy solutions provider that is working to improve the quality of life for rural communities in Ethiopia. Their affordable pay-as-you-go solar systems are accessible through the HelloCash platform, which allows Ethiopians to pay their monthly installments from their mobile phone.
And with an international payment gateway, the Ethiopian diaspora can pay from anywhere using any international credit card. With a focus on sustainability and connectivity, HelloSolar is definitely a company to watch in 2023.
AIfluence is also on our list of top African startups to watch out for. This Nairobi-based platform uses advanced algorithms to power influencer discovery and evaluation, campaign management, and performance measurement for both organic and paid influencer marketing campaigns.
By accurately predicting and delivering measurable ROI on every campaign, AIfluence solves a major pain point experienced by most marketers in influencer marketing. Founded by Nelson Aseka, Lamusia Anzaya, and Ankit Jindal in 2019, this innovative startup was able to raise over $1 million in 2021.
Ghana’s Easy Solar is another company making waves in the African startup scene. They sell modular “plug and play” solar kits that range from simple solar torches to rooftop panels that can power fridges and TVs.
Founded by South African Nthabiseng Mosia, the company offers a range of solutions for home, business, and industrial purposes, and has already expanded into neighboring Liberia, bringing energy access to that country’s citizens.
Another startup using AI to improve people’s lives is Ubenwa Health, which was founded by Charles Onu in 2017.Ubenwa uses a mix of engineering, artificial intelligence (AI), and medical research to find illnesses in infants and babies.
By analyzing the algorithms and patterns of these diseases and their symptoms, Ubenwa can provide an instant diagnosis of the disease, helping doctors provide timely and effective treatment and thereby reducing infant mortality. Ubenwa was able to raise an impressive $2.5 million in 2022 and is expected to do even better this year.
Another top African startup to keep an eye on is OffGrid Box. This firm has a comprehensive system that employs solar energy to generate clean water and power. Housed within a shipping container measuring 6x6x6 feet, the system incorporates all the necessary hardware to produce electricity and clean water.
Davide Bonsignore and Emiliano Cecchini co-founded OffGrid Box in 2014, after a voluntary project to install solar panels and water purifying systems in six rural South African kindergartens. The company has since ventured into new markets and supplied energy access to millions of Africans, including their households and institutional buildings such as health clinics and schools.
OffGrid Box’s evolution into an impactful player within the energy and water supply sectors is something to observe closely in the years ahead.
This fledgling startup in Mali is using satellite and sensor data to keep a watchful eye on the weather patterns that can decimate small farms. Their insurtech business offers affordable mobile-based crop insurance that can compensate farmers automatically for losses due to floods or droughts.
Even with volatile climate trends, OKO assures small farmers of financial security. The technology powering the platform allows unbanked and offline farmers to make payments for goods through any type of phone.
Founded by Simon Schwall, and boasting over 18,500 farmers insured by July 2022, OKO has become the go-to crop insurance choice in Mali. OKO’s focus on smallholder farmers and the innovative technology it employs make it a company worth watching in 2023.
Finally, we have GotBot, an artificial intelligence chatbot solution based in South Africa. Using chatbot machine learning, GotBot automates and enhances response quality to your business audience in a single messaging dashboard.
Not only does this customer care chatbot save you time by automating recurring tasks, but it also promptly responds to client requests.
With the ability to be embedded across various platforms, including Facebook, WhatsApp, Instagram, LinkedIn, Twitter, and others, GotBot’s chatbot is a versatile and indispensable business tool.
GotBot was founded by Nick Argyros in 2016, and since then, it has become an exciting startup revolutionizing the game of customer service in Africa.
These are just some of the top African startups to watch out for in 2023. With their innovative technologies, focus on sustainability and accessibility, and commitment to making a difference in people’s lives, these companies are definitely worth keeping an eye on, and perhaps even investing in.
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