Mastercard’s Fellowship admits 12 SA edtech startups
Mastercard’s Edtech Fellowship has handpicked 12 game-changing startups. The startups will get equity-free funding worth over R1,000,000 (~ $540 000), product quality evaluation and certification, skills development, coaching and mentorship, market research and access.
Low on cash and high on losses, Egypt-born mass transit startup Swvl has received its third delisting warning from Nasdaq. Per the warning, dated March 31, Swvl has 180 days—or until September 25—to raise the value of its publicly held shares above $15 million.
Following its six-month operational pause, Healthlane is changing its business model and discontinuing usage of its on-site laboratories. The company is seeking to reinvent itself after a phase of operational struggles and allegations against its founder.
Victory Farms, a Kenya-based aquaculture startup, raised $35 million in a Series B round led by Creadev. Other participants in the round include Acumen Resilient Agriculture Fund (ARAF), DOB Equity, Endeavor Catalyst Fund, and Hesabu Capital. The company’s founders and angel investors, including Joseph Rehmann, Steve Moran, Kamran Ahmad, and Hans den Bieman, also invested.
South African agri-tech startup, FarmTrace, also closed an undisclosed amount of funding from Secha Capital and Hassium Capital to expand its operations as a cloud-based management solution for farmers.