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The startup ecosystem in Uganda has experienced remarkable growth over the past five years, with an increasing number of entrepreneurs launching innovative ventures across various sectors. As these startups seek to scale their operations and drive impact, they have turned to investors for funding support. This analysis delves into the funding landscape of Ugandan startups from 2019 to 2024, uncovering key trends and insights that shed light on the startups that have raised the most funding. For a startup to be included on this list, we had a cut-off of at least $1m raised in its lifetime and 16 startups…
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A 2023 World Economic Forum Future of Jobs report shows this form of artificial intelligence is automating millions of jobs with the hope of eventually changing the future of work. Automating tasks is viewed to be beneficial, freeing up human workers from routine tasks, and allowing them to focus on more creative and innovative endeavours such as research, design, and problem-solving. CEO East Africa Magazine profiles three Ugandan businesses harnessing the power of artificial intelligence to automate tasks, improve productivity, and drive sales. Kweli: Driving sales and automating tasks Stephen Obeli took an interest in artificial intelligence seven…
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Emata, a pioneering fintech and microfinance firm based in Uganda, has successfully secured $2.4 million in a seed funding round. The funds, which include $800,000 in equity and $1.6 million in on-lending capital, will be utilized to expand the company’s innovative agri-loan services throughout the East African region. The seed funding round was supported by a group of investors, including African Renaissance Partners, a venture capital firm dedicated to fostering entrepreneurship in East Africa and the Horn of Africa. Norrsken Accelerator, the investment division of Europe’s largest impact tech ecosystem, also contributed to the round, along with Zephyr Acorn, Marcus…
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For starters, tell us about Emata Uganda. What is it about? Emata is a Ugandan fintech and licensed micro-finance institution. The company leverages technology and partnerships with agricultural cooperatives to offer farmers affordable, digital financing. In place of collateral requirements, the company creates alternative credit scores based on data points like a farmer’s delivery history. Emata encourages farmers to grow their farms into a business and invest in a productive future. We are disrupting the USD240 billion farmer financing opportunity in Africa. Globally, smallholder farmers struggle with financial exclusion. However, nowhere is the funding gap as big as in Africa:…
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Ugandan agri-fintech startup Emata was named the Best Newcomer at the Global Startup Awards finale in Copenhagen, Denmark held on March 30th 2023. The Ugandan ambassador to Nordic Countries and Baltics, Emata CEO, and co-founder Bram van den Bosch received the award. Emata was the only Ugandan startup nominated for the prestigious accolade and competed against startups from Portugal, Estonia, Israel, UAE, India, Indonesia, Denmark, and Turkey in the category of the best newcomer. There were more than 80,000 nominations for this year’s Global Startup Awards. This is Emata’s second win, following the agri-fintech’s “Best Newcomer” in Africa win in…
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