Program for Pre-seed investments Madica invests $600k in three new startups

Three tech-enabled startups—Kilimo Fresh, Hakimu, and Biovana—have been added to the portfolio of Madica, a structured investment program for pre-seed African startups.

Madica, a pre-seed investment program with a focus on Africa, was established in 2022 with the goal of empowering underfunded and underrepresented mission-driven founders on the continent. Through funding and democratizing access to top-notch company-building support, the sector-neutral platform associated with Flourish Ventures seeks to empower entrepreneurs.

Madica had previously supported ten startups, including two in November and four in February of last year. With investments in Kilimo Fresh, Hakimu, and Biovana, that number has now risen to thirteen.

In an effort to reduce food waste, Tanzania’s Kilimo Fresh, co-founded by Baraka Chijenga and Justice Mangu, aggregates, processes, and distributes fresh produce via a technologically enabled supply chain, connecting smallholder farmers to dependable urban markets.

While Nigeria’s Biovana, co-founded by Estelle Dogbo and Dr. Jumi Popoola, is a data harmonization and certification platform dedicated to unlocking African health datasets for international pharmaceutical, AI, and clinical research applications, Kenya’s Hakimu, co-founded by Rawan Dareer, Ahmed Ahmed, and Ahmed Elbashir, is constructing a pan-African legal infrastructure using the power of AI.

Each company will participate in Madica’s 18-month program, which includes a customized curriculum, executive coaching, practical mentorship, and two fully funded immersion trips to important technology ecosystems both domestically and abroad. Each company has secured up to US$200,000 in funding. Additionally, the startups will have access to Madica’s international investor network, which will help set them up for long-term success and expansion.

“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. These three startups join a growing community of founders we’re backing with the resources, relationships, and runway they need to succeed at this early stage. The opportunity across the continent is enormous, and we’re committed to being a crucial and consistent partner in realising it,” said Emmanuel Adegboye, head of Madica.