Looking at the start-up world means not only focusing on Silicon Valley or Bangalore, but innovative ambitions come from all over the world, even from Africa. This is precisely why, last January, the first African innovation hub promoted by the Italian group Terna was inaugurated in Tunis. The project is part of the Mattei Plan for Africa, intending to bring technological innovation to the Tunisian energy sector through continuous training and scouting for new solutions. Against this backdrop, the call for entries for the Tunisia Scaleup Programme, promoted by the International Chamber of Commerce Tunisia, in collaboration with Terna, Mind The Bridge and Elis, has just closed, bringing together more than start-ups. The five winners, who in the coming weeks will be able to participate in mentorship sessions and then be presented internationally, are:
– Kumulus Water, a water utility company that produces drinking water from atmospheric moisture
– NextAV, a geospatial information company offering satellite and airborne remote sensing services.
– Kamioun, a startup that has developed a digital platform to modernise the operation of small local shops, connecting them to manufacturers of consumer goods for competitively priced orders with fast delivery
– Be Wireless Solutions, a fully customisable IoT/AI platform for monitoring real-time resources such as electricity, water and fuel
– Asteroidea leverages existing parking infrastructure, networks and payment systems to offer a seamless Park & Charge experience.
Let’s analyse together the most interesting rounds of April, looking beyond African borders:
RayGen Resources
The Australian clean energy startup has secured A$127m through a D Series investment round. With a proprietary system, RayGen combines solar concentration and thermal water storage to provide reliable, long-lasting energy. The new funds will help the international launch of this system.
Rain Technologies
The US-based fintech scaleup Made in Santa Monica, which offers early-wage solutions and employee financial wellness tools, has just closed a $75m B Series round, in which Italy’s Nextalia also participated. Ventures.
Phantom Neuro
The neurotechnology company, founded as a spin-off from the Johns Hopkins University School of Medicine, that is developing a bracelet-like device that is implanted under the skin to allow an amputee to control prosthetic limbs, has raised $19m. The Phantom X software, which can read nerve impulses and translate them into movement, has shown 94% accuracy.
Marshmallow
The UK startup that has grown over the years using data science innovations to build insurance policies for immigrants and consumers excluded from traditional insurance has raised $90m to expand and has reached a market valuation of more than $2bn. The new funds will be used to enter the financial services sector.
Deck
The Montreal-based startup that is building the infrastructure for user-authorised data access, i.e. developing software that can unlock data from any website through automation, has raised $12m in an A Series funding round, bringing total investment since its inception in January 2024 to $16.5m.
