Madica, a structured investment program for pre-seed startups in Africa, has announced its latest round of investments, backing four tech-enabled startups—Medikea, Motherbeing, Pixii Motors, and ToumAI.
Launched in 2022 and affiliated with fintech-focused VC firm Flourish Ventures, Madica is a sector-agnostic initiative designed to address structural challenges in Africa’s startup ecosystem. The program focuses on bridging gaps in access to capital, investor engagement, mentorship, and structured support, all of which are crucial for fostering innovation and entrepreneurship across the continent.
With this latest investment round, Madica has doubled its portfolio from four to eight startups. The new additions include Tanzania’s e-health platform Medikea, Egypt’s AI-driven wellbeing service Motherbeing, Tunisia’s mobility startup Pixii Motors, and Morocco’s customer experience (CX) platform ToumAI.
Each startup has secured up to $200,000 in funding and will participate in Madica’s 18-month investment program, which offers hands-on mentorship, a tailored curriculum, and two fully-funded immersion trips to key startup ecosystems—Cape Town and London. The portfolio companies will also benefit from executive coaching and access to Madica’s global investor network to support future fundraising efforts.
Read also: ToumAI Raises €1M to Revolutionize Customer Experience with AI.
Highlighting the program’s commitment to diversity, Emmanuel Adegboye, head of Madica, emphasized the importance of representation across sectors and leadership teams.
“What’s particularly exciting is that we set out to build a portfolio with at least 50% gender diversity in leadership teams. We are currently exceeding that goal, with a significant portion of our portfolio led by female CEOs,” Adegboye said.
“Additionally, these investments span eight different countries and six diverse sectors, aligning with Madica’s vision of supporting underrepresented geographies, industries, and founder profiles.”
Madica’s latest round of investments underscores its mission to empower African startups, ensuring long-term sustainability and growth in the region’s evolving tech landscape.
