Silicon Valley accelerator programme, Y Combinator has named eight more African startups for its winter 2022 batch – bringing the total number of African Startups for this batch to a total of twenty-three.
The accelerator programme has become an integral aspect of growth for many startups globally. Y Combinator plays an important role in bootstrapping and accelerating many startups in early-stage funding as well as connecting them to various opportunities to scale.
Y Combinator played an important role for a number of startups like Coinbase, Dropbox, Airbnb, e.t.c. The Winter Batch 2022 Demo Day is set to kick off next week and a total of 23 African startups will be present for this season’s round of accelerator programmes.
Y Combinator had early announced a number of startups since January and adding to the list, the eight new startups to join already listed startups are crypto platform Payourse, data-free internet service provider Simplifyd, on-demand clean meat provider Sendme, payments startup Vendy, open-source cloud-native webhook service Convoy, insurtech startup Curacel, and payment API provider Plumter and Sudanese fintech platform Bloom. The first-seven mentioned startups are all originating from Nigeria.
According to the accelerator programme, participants will receive seed funding to accelerate or bootstrap their companies as well as further investment opportunities at the demo day.
Investors King also gathered that the preceding season of the programme, the S21 edition, had only 15 African participants – a record that was higher than previous slots given to African startups. However, with the additional eight, this is another record to score the most slots for African startups.
Here are the 23 African Startups for The W22 Batch
Of the entire 23 startups, 18 are from Nigeria while the remaining five are from Ghana, Uganda, Ethiopia, Kenya and Sudan.
Nigeria: Dojah, Moni, Topship, Identitypass, Touch and Pay, EaziPay, Remedial Health, Hay Food, Plumter, Grey Finance, Lenco, Vendy, Sendme, Simplifyd, Payourse, Curacel, Convoy, and Duplo.
Ghana: Tendo
Uganda: Numida
Ethiopia: beU Delivery
Kenya: Boya
Sudan: Bloom
Investor King also gathered that the accelerator programme has also increased its deal size to US$500,000 from the previous US$125,000 for seven per cent equity it usually invested in the past. However, under its new deal, the Silicon Valley accelerator programme will also invest an additional US$375,000 on an uncapped SAFE with “Most Favoured Nation” (MFN) terms.
