Madica backs three startups, launches fundraising guide for first-time founders

Madica has invested $600,000 in funding to three African startups, while also unveiling a new fundraising guide aimed at helping early-stage founders navigate pre-seed capital.

Madica, a pre-seed investment programme focused on African startups, has added three new companies to its portfolio, committing up to $600,000 in total funding.

This latest investment spans Tanzania, Kenya, and Nigeria and is part of its effort to broaden access to early-stage capital beyond the continent’s more established startup hubs.

The selected startups are Kilimo Fresh, Hakimu, and Biovana, and each will receive up to $200,000 alongside entry into Madica’s 18-month support programme. Beyond capital, the programme will offer mentorship, executive coaching, and exposure to global investor networks, as well as immersion trips designed to connect the founders with other ecosystems.

Since its launch in 2022, the programme has focused on founders who are often excluded from venture funding, whether due to geography, sector, or limited access to investor networks.

“Each new investment brings us closer to the portfolio we set out to build, one that reflects the full breadth and diversity of African entrepreneurship. The opportunity across the continent is enormous, and we’re committed to being a crucial and consistent partner in realising it,” Emmanuel Adegboye, Head of Madica, says.

The three newly backed startups lie in sectors that are growing but still underfunded relative to fintech.

Kilimo Fresh, based in Tanzania, is an agritech platform that connects smallholder farmers to urban markets. By streamlining the supply chain, the company aims to reduce post-harvest food waste and improve farmer margins.

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