MEST invests $1.1m in 11 graduating tech startups

MEST invests $1.1m in 11 graduating tech startups

MEST Africa has announced investments in 11 startups from its 2019 cohort that will each receive $100,000 in financing.

The combined $1.1 million backing is the largest to date for the organization which operates as a training program and seed fund for African innovators to build successful commercial tech companies.

MEST Africa was launched in 2008 and is headquartered in Accra, Ghana. The organisation launched into the Kenyan Market in 2015 and in 2018, they launched their tech incubator hub at Nairobi Garage.

MEST Africa runs an annual programme and then invests in startups formed by its graduates. Now in its 11th year, over 60 tech companies have been launched via MEST’s seed funding and mentorship.

The 11 startups that graduated this year, will now join MEST Incubators in Ghana, Nigeria, Kenya, and South Africa. These companies include four that are launching in Ghana, namely social support network and healthcare service aggregator Massira, digital savings platform BezoMoney, consumer financing service Niqao, and big data platform Adi+Bolga.

Another three will launch in Kenya which include farm produce distribution platform Farmula, ticketing startup Saada, and healthcare platform Nadia and another three will also launch in Nigeria, namely property development crowdfunding platform CoFundie, music studio booking service CoVibes, and beauty platform Zuri.

The final investment is Kweza, a service that enables informal retailers to order products and receive deliveries directly to their stores, will be the first in the MEST portfolio to launch in South Africa.

This year’s funded startups will join more than 30 companies currently in incubation as part of MEST’s portfolio across Ghana, Nigeria, Kenya, and South Africa, and the graduates will join over 400 alumni across the continent.

Want to join our growing business network? Book a tour today at any of our branches and check out our amazing packages!