Madica, a structured investment programme designed for pre-seed startups in Africa, has announced its latest round of investments in 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 investment programme designed to address structural gaps in Africa’s startup ecosystem.
The programme tackles key challenges such as limited access to capital, a scarcity of investors, insufficient mentorship, and the lack of structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.
Until now, Madica has backed four startups, but it has now doubled that by announcing investments in Tanzanian e-health platform Medikea, Egyptian AI-based wellbeing service Motherbeing, Tunisian mobility startup Pixii Motors, and Moroccan CX platform ToumAI.
Each startup has received an investment of up to US$200,000 and will participate in Madica’s comprehensive investment programme, which includes 18 months of support through a highly personalised curriculum, hands-on mentorship, and two fully-funded week-long founder immersion trips to key local and global ecosystems – Cape Town and London.
The portfolio companies will also gain access to executive coaching opportunities and access to Madica’s global network of investors for follow-on funding, all designed to spur growth and ensure the long-term viability of the startups.
“What’s particularly exciting is that we set out to build a portfolio with at least 50 per cent gender diversity in their leadership teams. We are currently exceeding that goal in addition to a significant portion of our portfolio having female CEOs. Additionally, these investments span eight different countries and six diverse sectors, which is exactly the kind of portfolio diversity Madica aims to achieve across underrepresented geographies, sectors, and founder profiles,” said Emmanuel Adegboye, head of Madica.
