Madica, an early-stage investment firm focused on Africa, has invested $400,000 in two artificial intelligence startups. It is partnering with the African Business Angel Network (ABAN) to strengthen access to early-stage funding across the continent. The move signals Madica’s growing commitment to connect angel investors and institutional backers to empower African founders in emerging technology sectors.
Supporting Innovation Across North Africa
The two selected startups reflect the region’s growing focus on practical AI adoption:
- Anavid (Tunisia) – Uses AI to integrate with existing CCTV systems and detect theft in real time.
- Hypeo AI (Morocco) – A SaaS platform that automates influencer marketing for brands and agencies.
Each company will receive $200,000 in funding and join Madica’s 18-month support program, which includes:
- Mentorship from industry experts
- Immersion trips to key African and global tech hubs
- Access to Madica’s global investor network
According to Emmanuel Adegboye, Head of Madica, “The founders we’ve just welcomed are visionaries, building solutions with the power to uplift communities and shape industries. We’re proud to support them as they take on the next stage of their journey.”
Building a Stronger Startup Capital Network
Madica’s partnership with ABAN—which includes more than 5,000 angel investors across 37 African countries—will enable co-investment opportunities and shared fundraising efforts. This collaboration aims to bring more capital from within Africa into early-stage startups, reducing dependency on foreign funding.
Yemi Keri, President of ABAN, emphasized, “Our collaboration with Madica helps bridge the gap between angel investors and institutional capital, ensuring that startups across Africa can access the right support to scale.”
A Growing Portfolio of African Innovation
Earlier this year, Madica invested $800,000 across four startups. These 4 companies: Medikea, Motherbeing, Pixii Motors, and ToumAI are operating in healthcare, e-mobility, and artificial intelligence. These new North African investments bring Madica’s total to ten startups and $2 million deployed since its launch.
Madica plans to invest $6 million in 30 African startups by 2025, maintaining its focus on technology-driven companies that address local challenges with scalable solutions.
Empowering Founders, Shaping the Future
Founded in 2022 as an affiliate of Flourish Ventures, Madica stands for “Made-in-Africa.” The firm’s goal is to nurture a new generation of African founders through funding, mentorship, and access to global networks.
By backing startups in markets like Tunisia and Morocco, Madica continues to expand its footprint and reinforce Africa’s role in the global AI ecosystem. Its partnership with ABAN further strengthens the continent’s capacity to build a self-sustaining innovation economy led by homegrown entrepreneurs.