Renew Capital selected 15 African technology startups from more than 500 applicants across 48 countries to advance to the next stage of its inaugural Renew Venture Lab: EmFi Series.
The startups were chosen after applicants took part in founder-led training sessions and a pitch competition. Forty-seven companies reached the final pitching stage and received a startup support package valued at more than $250,000 before the field was narrowed to 15 for technical training and investment consideration.
The selected companies come from 10 African countries: Ethiopia, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Togo, Uganda and Zambia. The cohort includes AgroCenta, Boost Technology, Dots for Africa, Fanaka, Kutana, MajibuAfrica, Marakisoft, Oze, Regxta, Rigo, Shiprazor, Solimi, Tradevu, Z Systems and Zendawa.
Renew Capital said many of the startups are building financial tools and digital services for small and medium-sized businesses. Co-Chief Executive Officer Matthew Davis said the next generation of financial services for African businesses is likely to come from technology companies that already understand their customers rather than traditional banks.
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Renew Capital is one of Africa’s most active early-stage investors and operates in 13 countries. The company said the Venture Lab is designed to help founders strengthen their businesses while identifying startups that could receive future investment.
Key Takeaways
The Renew Venture Lab reflects a broader shift in African venture capital toward supporting startups before they raise institutional funding. Instead of investing only after companies have matured, investors are increasingly providing training, mentoring and technical support to improve investment readiness. The selected startups span agriculture, logistics, health, financial technology, software and enterprise services, showing that African innovation is spreading beyond consumer fintech into tools that help businesses operate more efficiently. The geographic spread is also notable, with founders coming from 10 countries rather than a few established startup hubs.
That suggests investors are looking beyond Nigeria, Kenya, Egypt and South Africa for new opportunities. Renew Capital’s focus on businesses serving small and medium-sized enterprises also reflects the growing belief that technology can close financing, productivity and market access gaps for Africa’s largest employer segment. For founders, participation offers access to investors, mentors and potential funding. For the venture ecosystem, programs like this help create a stronger pipeline of companies that are better prepared for seed and Series A investment, even as global venture funding remains more selective than during the market peak of 2021 and 2022.
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