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Top 25 Medical Device Startup Investors in Africa in November 2024

Last updated: Nov 2024 A list of 25 angel investors and VC (Venture Capital) funds that invest in Medical device startups based in Africa. We rank investors based on the number of investments they made in Medical device companies from Africa. We update this investor list every month.

Top 25 Medical Device Startup Investors in Africa in November 2024

Investor	Medical Device Africa investments
Futuregrowth Asset Management	2
FINCA Ventures	2
Bose Ventures	2
Chandaria Capital	2
Global Ventures	1
Musha Ventures	1
DOB Equity	1
Five35 Ventures	1
Ventures Platform	1
Verge HealthTech Fund	1
Shakir Merali	1
Sphere Holdings	1
Future Africa	1
Aadil Mamujee	1
Greentree Investment Comany	1
TLcom Capital Partners	1
Newtown Partners	1
Launch Africa	1
Consonance Investment Managers	1
Shaka Ventures	1
SAB Foundation	1
Selma Ribica	1
The ASISA ESD Fund	1
Bill & Melinda Gates Foundation	1
Technology Innovation Agency	1

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Investor list

Futuregrowth manages the full range of fixed interest and developmental impact funds on behalf of our clients. We are committed to managing and investing our clients' funds in a responsible manner.

Investment focus

Software, Logistics, Medical Device
Seed, Series B, Funding Round
South Africa, France, United States

Portfolio highlights

Tripplo — Tripplo is a platform to automate and optimise operations for transporters, cargo owners and cargo brokers.
Pineapple — In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest andcover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to manyPineapple launched in South Africa in 2018 with their "My Stuff" per-item insurance and have since launched their auto offering "My Ride". They have also partnered with Travelers in the US and have white-labeled their platform in the US.
SweepSouth — Book a home cleaning online from your mobile, tablet or computer. SweepSouth connects you with a cleaner in minutes. Cleaners are experienced, reliable, efficient and insured.

FINCA Ventures is an impact investing initiative of FINCA International that provides patient capital and support to early-stage social enterprises.

Investment focus

Financial Services, Information Technology, FinTech
Seed, Series A, Pre-Seed
Kenya, Mexico, Sweden

Portfolio highlights

FloatPays — Floatpays help your employees achieve financial wellbeing by giving them early access to earned wages.
Bamba — We help large companies that want to help their affinity users to solve unforeseen events fast, by minimizing costs, through a smart digital agent embedded in any company’s interface
Lapaire — Discover a wide range of high-quality & affordable eyeglasses at Lapaire Glasses. Book a free vision test with our professional optometrists to help you find your perfect pair of glasses to enhance your vision and style. Shops in 7 african countries: Benin, Ivory Coast, Togo, Burkina Faso, Mali, Kenya and Uganda.

Bose Ventures is looking for startups that are pushing the envelope of AR to help build some of these new experiences. They are investing in startups that are developing apps, services, and technology that leverage and extend the Bose AR platform. If you are one of these innovative startups

Investment focus

Software, Artificial Intelligence, Music
Funding Round, Series B, Series A
United States, India, Denmark

Portfolio highlights

Vesper — Vesper is an electrical and electronic manufacturing company that specializes in microphones, piezoelectric, and audio. The company is driven by a mission is to deliver voice-powered products to every market, around the world. Vesper was founded in 2009 and headquartered in Boston, Massachusetts.
Medrhythms — Pioneering Next-Generation Digital Therapeutics to Improve Walking  
Noise — Buy latest Noise smart watches, wireless earbuds, BT neckband earphones, wireless headphones, speakers and smart watch accessories online at best prices in India.

Chandaria Capital operates as a venture capital Fund. We believe that innovative ideas will transform Africa. We invest, mentor, and work together with incredible entrepreneurs to create impactful companies that can change the continent.

Investment focus

E-Commerce, Retail, FinTech
Seed, Series A, Pre-Seed
Kenya, United States, Nigeria

Portfolio highlights

Leta — Leta Technology is a software development company that creates supply chain and logistics software to enable the efficient and automated movement of goods.
Jumba — Jumba is a construction technology platform that streamlines B2B construction material purchase and financing.
UTU Technologies — Trust infrastructure for the sharing economy.

We back global-minded, growth-stage and technology-focused founders in emerging markets and the world.

Investment focus

Health Care, FinTech, Financial Services
Seed, Series A, Series B
United Arab Emirates, Egypt, United States

Portfolio highlights

Iyris — Iyris Advanced Desert Greenhouses is the Middle East's premier agriculture glazing specialist, providing tailored solutions for increased desert crop output. iyris collaborates closely with the glass industry's greatest companies to provide ultra-clear glazing with the most advanced anti-reflective and light diffusive coatings.
Maalexi — We are a deal-driven and buyer-focussed digital ecosystem for 'Wholesale Import and Finance of Food and Agriculture products into US, Europe, Africa, India and the UAE'. We make it faster, cheaper and safer to trade internationally, by standardizing and digitalizing trade processes, and have built key partnerships with globally renownedcompanies, that assure performance, finance, and mitigate transactional risks.We help local SME manufacturers and distributors to import and get finance for food and agricultural products directly from the source. Agricultural products can be imported by local manufacturers directly from small and medium co-operatives and processors, while food products can be imported directly by local distributors from manufacturers. We help buyers connect and transact with sellers by mitigating transactional risks in cross-border trade like : Counter-party, Price, Product Quality and Quantity, Delivery and Payment. We have partnerships that allow us to provide - digital contracting, end-to-end fulfillment, physical inspections, and secured payments. We are partnered with globally renowned - Distributed Ledger Technology platform, Logistics Service companies, Insurance providers, an Inspection Agency, and Financial Service fin-tech firms. We work 24x7, 365 days to 'simplify cross-border trade', and we invite you to join us in this endeavor.
Zinc Money — A suite of comprehensive solutions to help families navigate international education for their children and ensure a sound financial foundation for their academic journey.

Seed capital for technology startups globally.

Investment focus

Financial Services, Software, FinTech
Seed, Pre-Seed, Series A
United States, Nigeria, Kenya

Portfolio highlights

Regfyl — Powered by AI, Regfyl is the all-in-one fraud and compliance platform for financial institutions and fintechs. Regfyl allows these businesses to reduce costs and focus on higher value activities.
Sukhiba — Sukhiba is a decentralized community-based commerce platform.
Orca Fraud — Orca empowers fraud fighters with effective tools to combat fraud

DOB Equity is a private equity firm specializing in growth capital and buy-and-build strategies in small and medium companies.

Investment focus

Food and Beverage, Farming, Health Care
Private Equity, Funding Round, Seed
Kenya, Rwanda, Tanzania

Portfolio highlights

Kwara — Kwara turns analog credit unions into modern digital banks.
Power — Putting individuals on the path towards financial health
Eden Care Medical — Eden Care Medical is a mobile application that provides medical and health insurance as well as financial services.

With a decade-long track record of venture building alongside some of the smartest female-led founding teams in Africa, we back female-focused startups across

Investment focus

Information Technology, Health Care, Wellness
Seed, Pre-Seed, Funding Round
South Africa, Kenya, Nigeria

Portfolio highlights

Susu — Susu is a dynamic and innovative company that offers a wide range of health services for families in the African diaspora. Susu provides a complete offer on Preventive care, Medical treatments, Management of chronic diseases, and Authentic drugs.
Kasha — Health products and household goods you want, delivered to where you are.
Zuri Health — .ts-banner-image-1:hover .overlay{background-color:#ffffff} .ts-banner-image-2:hover .overlay{background-color:#ffffff} Popular categories Pharmacy Doctor at home Covid Labs & Diagonstics Wellness Telemed Show all Our Services PharmacyBuy both OTC and prescription medication and have it delivered to your doorstepLabs & DiagnosticsBook labs and Diagnostic tests and get your samples collected from the comfort of your home, hotel

We back founders building the future of Africa. We invest in companies that solve for non-consumption, plug infrastructural gaps and democratise prosperity in Africa, by eliminating the barriers for access and reducing the costs of delivering goods and services.

Investment focus

Financial Services, FinTech, Internet
Seed, Pre-Seed, Funding Round
Nigeria, United States, Kenya

Portfolio highlights

Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
Shekel Mobility — B2B marketplace for auto dealers to grow their dealerships leveraging on flexible inventory financing and management solutions. Available on web and mobile.
Maad — Maad is Francophone Africa's fastest-growing B2B marketplace, based in Dakar, Senegal. Our tech-driven solution allows retailers to order products from our one-stop shop and benefit from working capital loans

We make early investments in global healthcare technology companies that address prevention, disease management and health system efficiency that are relevant to emerging AsiaThey believe that innovation can happen anywhere, from the streets of Dhaka to the labs of Oxford, however without the right support network, these solutions might notscale, or find the best world-changing application. This is where they can help.

Investment focus

Health Care, Medical, Medical Device
Seed, Pre-Seed, Funding Round
Singapore, Estonia, Canada

Portfolio highlights

Shen.AI @ MX Labs — Health monitoring with face-scanning technology. Clinically validated software for vital-signs measurements.
BrainCapture — BrainCapture's BC-1 provides the tools to deploy high-quality EEG at the point-of-care.
Pathway Medical — Pathway is an accurate and efficient point-of-care reference tool that gives you rapid access to evidence-based guideline summaries, interactive algorithms, key findings from landmark trials, clinical calculators, and more. Available anytime, anywhere.

Shakir Merali

Investment focus

Credit, FinTech, Lending
Seed, Series C
Kenya, Mauritius

Portfolio highlights

4G Capital — Financial Services, Small Business Loans, Unsecured Loans, Microfinance, Credit Solutions, Working Capital, Flexible Repayment Options, Quick Loan Disbursements, Collateral-free Loans. banking 4G Capital. Kuza. Kawi, Upia, NXTGEN, africa bank. kenya bank. uganda bank. Green Investment, Sustainable returns. funding. impact
Ilara Health — Ilara Health helps primary care clinics across Africa deliver better care.

Founded in 2003, Sphere is a high performing investment holding company driven to create value for funders, shareholders and business partners. With a solid track record shaped over a decade, They actively seek out investment partnerships with high quality privately owned businesses across a range of strategic sectors.Their success is drivenby an experienced team, Their own capital, a disciplined investment process, and broad business networks. Passionate about partnerships, They commit for the long term and actively work with Their portfolio companies to build great businesses.Majority black controlled and managed and boasting 71% black ownership, including 31% women ownership, Sphere has the necessary credentials to advance the broad based Black Economic Empowerment goals of South African businesses. As the focus turns to the rest of the continent, They actively support Their investments in their pan-African ambitions.Their strong belief in the principles of broad based empowerment means that approximately 15% of the shares in Sphere are held by charitable organisations. Over the years, more than five million worthy beneficiaries in nine provinces across South Africa have benefited from Their track record of delivery.

Investment focus

Software, Web Apps, Health Care
Series A
South Africa

Portfolio highlights

hearX Group — Digital audiology technology to screen, diagnose & treat hearing loss globally. Award-winning solutions for more efficient & cost-effective hearing care.

Future Africa is a collective of mission-driven founders and funders building unicorns to solve Africa’s biggest challenges. They are build a future where purpose and prosperity are within everyone’s reach.

Investment focus

Financial Services, FinTech, Information Technology
Seed, Pre-Seed, Series A
Nigeria, United States, Kenya

Portfolio highlights

Moove — Moove is a mobility fintech that provides revenue-based vehicle financing to mobility entrepreneurs, democratizing vehicle ownership globally. The company embeds its alternative credit-scoring technology onto ride-hailing, logistics, and last-mile/instant delivery platforms, which allows access to proprietary performance and revenue analyticsof mobility entrepreneurs to underwrite loans.
Itana — Talent City’s mission is to build a network of charter cities that focuses on creating technology-enabled jobs within a free trade zone with its own regulation and bylaws.
Filmmakers Mart — FilmmakersMart is Africa’s first film and entertainment marketplace where entertainment businesses and creatives find verified services seamlessly for their video productions while democratizing entry into the film and entertainment industry for emerging creatives. We’re building the operations system for the film and entertainment industry inAfrica.

Aadil has spent the last decade working in technology in Europe and USA. He was most recently VP of Product Management at Pocket Gems, a mobile entertainment company, where he was one of the founding employees and first product manager. He helped grow the company profitably to 200+ staff and 200M users. Previously Aadil worked in the early-stageinvestment team at Index Ventures and at Google in London. Aadil has a MEng from Cambridge University and an MBA from Harvard Business School. Aadil was born and raised in Mombasa, Kenya.

Investment focus

SaaS, Software, Cryptocurrency
Seed, Pre-Seed, Series B
United States, India, Kenya

Portfolio highlights

Blanq — Next-generation self-custody crypto wallet - secure and easy
Lottielab — Create and ship animations to your products faster. Bring your websites and apps to life with the simplest editor for Lottie animations.
Stan — Stan has built a platform that allows esports fans to collect, play and trade digital collectibles such as non-fungible tokens (NFTs) of their favorite esports players and content creators, through which they can win physical and virtual world perks and rewards such as getting a chance to meet their favorite players.

Greentree Investment Comany is an investment firm.

Investment focus

Financial Services, Internet, Logistics
Pre-Seed, Seed
Nigeria

Portfolio highlights

MDaaS Global — At MDaaS Global, we build and operate modern, tech-enabled diagnostic centres in clinically-underserved communities, starting in Nigeria. Our big goal is to create affordable healthcare solutions for Africa's next billion.
Eazyhire — Eazyhire is allows people and businesses rent assets such as equipment and vehicles that they need temporarily while providing value to the owners of those underutilized assets. We also provide asset financing through our rent to own service in partnership with financial institutions and OEMs
Riby — At Riby we provide solutions that manages Collaborative and Community-based access to finance, peer-to-peer lending and saving groups.

TLcom Capital, is an Africa focused tech VC, with offices in Lagos, Nairobi and London. TLcom had been investing since 1999 in Tech, Media, Mobil and Internet companies across Europe, US and Africa, which is the exclusive focus of its most recent TLcom TIDE Africa funds. TLcom manages total commitments of approximately 300 million USD in thesesectors via a series of dedicated investment vehicles. Our investment strategy is to identify, back and assist world class entrepreneurs and management teams with disruptive technologies and business models, compelling intellectual property and deep market knowledge. We primarily target companies focused on Africa as a prime market, in the following investment themes: Access to Data Service; Financial Services; eCommerce; B2C applications (including but not limited to: health, education, energy, media and entertainment); and Software solutions to corporates and SMEs.

Investment focus

Software, Mobile, Information Technology
Series A, Funding Round, Seed
Nigeria, United States, United Kingdom

Portfolio highlights

Educatly — We help you get into the University of your dreams. We are the only platform with all the information you need to Study Abroad
Zone — Zone is a regulated blockchain network that enables payments and acceptance of digital currencies.
Terragon Group — Terragon is a leading Data and Marketing Technology company that uses data and analytics to help companies focused in Africa, intelligently connect at scale to their customers. We use an aggregation of online and offline data, and predictive scoring to help brands, marketing agencies and platforms accurately target people across channels anddevices. Headquartered in Lagos; Nigeria, we also have a presence in Kenya, South Africa, Ghana and India.

Newtown Partners is a venture capital firm that actively invests in emerging, disruptive technology startups.

Investment focus

Logistics, Health Care, Information Technology
Seed, Series A, Funding Round
South Africa, Ghana, Kenya

Portfolio highlights

Chefaa — Chefaa is a GPS-enabled pharmacy benefits platform connecting patients & pharmacies nation-wide to help patients manage all their pharmacy needs. Chefaa uses big data, data ming & machine learning
Waspito — We are the platform that engages Africa into the conversation and action to drive affordable and accessible quality healthcare across the continent.
Complete Farmer — We are providing cutting-edge technological farming protocols and innovations with a unique business model and logistics that are revolutionizing...

Launch Africa is a fund with the primary objective of unlocking the capital constraints of Seed Stage tech startups.

Investment focus

Financial Services, FinTech, Information Technology
Seed, Funding Round, Pre-Seed
Nigeria, South Africa, Kenya

Portfolio highlights

Bosso — Bosso projects and realizes automation and robotic solutions for the growth of your business.
Kredete — Kredete is a digital lending platform that provides free credit scores and reports to underserved individuals and small businesses in Africa to help them gain access to formal credit and improve their financial health. The platform connects borrowers with lenders and enterprises in Africa and is designed to simplify the lending process and makecredit more accessible by leveraging cutting-edge technology. Kredete offers a user-friendly platform that guides borrowers, lenders, and enterprises through the process of offering loans, making it simple for them to provide the right loan products for their needs.One of the key features of Kredete is its instant approval process, which is made possible by advanced algorithms and artificial intelligence. The platform offers flexible lending options by partnering with a variety of lenders and enterprises, enabling borrowers to choose the best option for their specific situation.Kredete is committed to protecting the privacy and security of all users' personal and financial information. It uses robust encryption and security measures to ensure that sensitive data remains safe and secure. Additionally, the platform maintains transparency throughout the loan process, providing lenders, enterprises, and borrowers with clear information about loan terms and associated fees.Kredete believes in empowering its users with the knowledge and resources they need to make informed financial decisions. To this end, the platform offers financial education, tools, and resources to help users better understand and manage their finances. Kredete also works closely with businesses and institutions to provide tailored financial solutions for their unique needs.Through its focus on accessibility, convenience, and transparency, Kredete is transforming the lending landscape in Africa and helping to bridge the financial inclusion gap. The platform remains dedicated to its mission of empowering lenders, enterprises, and borrowers across the continent to access the funds they need to achieve their financial goals.
Wahu Mobility — Wahu Mobility is an open e-mobility platform that connects drivers, passengers, and goods in a simple, inclusive, transparent, nationwide, and multimodal manner.

We are an investment company focused on helping early and growth-stage entrepreneurs build successful companies in Africa.

Investment focus

Software, Information Technology, FinTech
Seed, Series A, Pre-Seed
Nigeria, United States, Kenya

Portfolio highlights

Releaf — We are industrializing food processing in Africa. We've led 1000+ smallholder farmers to provide food factories with >7.5 million kilograms of quality crops.
Tripesa — Tripesa offers payment solutions for Africa's travel and tourism industry.
Norebase — Norebase knows that there's an opportunity to grow successful businesses in Africa. It also understands the complexities of the market, and so is using technology to make doing business in Africa worthwhile. With Norebase get to operate in Africa with no hassle and with minimum risk.

Shaka is a pan African venture capital firm based in Nairobi and Nigeria.

Investment focus

Mobile, Banking, Payments
Seed, Funding Round, Private Equity
China, Egypt, Kenya

Portfolio highlights

GONA — GONA is a leading provider of mobile payments, offering scalable mobile payments solutions for merchants and consumers. Founded by a group of world-class mobile payments enthusiasts who started by scribbling their ideas on a piece of paper, today they offer smart, innovative mobile payment services in Nigeria.
MNT-Halan — MNT-Halan is a microfinance lending and payments company.
Ilara Health — Ilara Health helps primary care clinics across Africa deliver better care.

The SAB Foundation invests in entrepreneurs and social innovation. Its priority focus in on businesses and innovations that benefit women and youth, people in rural areas and people living with a disability.

Investment focus

Health Care, Manufacturing, Medical Device
Funding Round
South Africa

Portfolio highlights

LIQID Medical — Glaucoma Implants in South Africa. Liqid Medical is a medical device company focusing on addressing the need for effective, long-rerm solutions for glaucoma treatment.

Selma Ribica

Investment focus

Payments, Software, Health Care
Seed, Pre-Seed
Kenya, Nigeria

Portfolio highlights

Klump — Use Klump to buy now and pay later in instalments for up to 12 months! Businesses accept payments, increase conversion rates, and boost revenue. The Easy Life! Try it now.
Scale — Scale accelerates market entry and revenue for fintechs with a people-first approach.
Ilara Health — Ilara Health helps primary care clinics across Africa deliver better care.

An Invetsment Fund.

Investment focus

FinTech, Internet, InsurTech
Seed, Series B, Series A
South Africa

Portfolio highlights

I-G3N — I-G3N is a South African developer of lithium-ion batteries. The company’s core market is on stationary storage in conjunction with Solar PV and focuses on superior products and on the incorporation of the latest technologies to battery functionality. One of the key focus areas is on exporting to the SADC region and the rest of Africa, asextraordinary opportunities exist on the rest of the continent, especially in the development of mini and micro-grids to impact development.
Pineapple — In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest andcover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to manyPineapple launched in South Africa in 2018 with their "My Stuff" per-item insurance and have since launched their auto offering "My Ride". They have also partnered with Travelers in the US and have white-labeled their platform in the US.
Aviro Health — We believe that empowering and supporting people to manage their own health benefits everybody.We built the Aviro Pocket Clinic to support self-care and provide access to services. We give people what they need to perform important health checks like regular HIV self-testing and connect them to experts and services who can offer hands-on and supported care when needed.

We are a nonprofit fighting poverty, disease, and inequity around the world

Investment focus

Biotechnology, Health Care, Pharmaceutical
Grant, Series A, Series B
United States, United Kingdom, India

Portfolio highlights

Schrödinger — Schrödinger’s industry-leading computational platform facilitates the research efforts of biopharmaceutical and industrial companies, academic institutions and government laboratories worldwide. Schrödinger also has wholly-owned and collaborative drug discovery programs in a broad range of therapeutic areas.Schrödinger is deeply committed toinvesting in the science and talent that drive its computational platform. Schrödinger was founded in 1990, has over 700 employees and is engaged with customers and collaborators in more than 70 countries. To learn more visit www.schrodinger.com.
Noze — Stratuscent's leading scent detection technology empowers next-generation products with the sense of smell. We build proprietary libraries of "scentprints" that can be deployed right away, and we can also help our partners build custom libraries for their own unique applications.
Radiant Biotherapeutics — Radiant Biotherapeutics: Transformative, multi-valent, multi-specific antibody platform: Multabody

WELCOME TO TIA Innovating Tomorrow Together TIA is a national public entity that serves as the key institutional intervention to bridge the innovation chasm between research and development from higher education institutions, science councils, public entities, and private sector, and commercialisation. Who we are POST-ACCELERATION SUPPORT CALL TIA invites Alumni cohorts who participated in the

Investment focus

Information Technology, Renewable Energy, Health Care
Grant, Seed, Pre-Seed
South Africa

Portfolio highlights

Jobox — Jobox is a student recruitment platform, built to connect employers, students and graduate career offices. Our focus is to improve graduate employability by ensuring all students have the skills they need to enter, stay in, and progress in the world of work.Jobox’s ecosystem provides employers with access to the best diverse & youthfultalent, students with more employment opportunities and universities with data-driven insights aimed at driving graduate employability forward.
Aviro Health — We believe that empowering and supporting people to manage their own health benefits everybody.We built the Aviro Pocket Clinic to support self-care and provide access to services. We give people what they need to perform important health checks like regular HIV self-testing and connect them to experts and services who can offer hands-on and supported care when needed.
Ownedby Technologies — Ownedby is an interactive asset management solution for business and household assets, focused on appliances and devices, giving these unique identity that is traceable online, yet linked to and controlled by owners.

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