Africa’s growing startup scene is getting another major boost. Madica, a structured investment program supporting early-stage African founders, has announced fresh funding for two new artificial intelligence (AI) startups—Anavid from Tunisia and Hypeo AI from Morocco. Each startup will receive up to $200,000 in funding, alongside entry into Madica’s 18-month growth program, which includes tailored mentorship, executive coaching, and two fully funded global immersion trips. This initiative reinforces Madica’s mission to close the gaps that have long kept many African entrepreneurs from accessing traditional venture funding. Since its launch in 2022, and under the umbrella of Flourish Ventures, Madica has focused on empowering underrepresented founders and startups operating in underserved markets and sectors.
Driving Inclusive Growth Across Africa’s Startup Ecosystem
Unlike typical venture programs concentrating resources in a few regions, Madica aims to spread opportunity across the continent. According to Emmanuel Adegboye, Head of Madica, “At Madica, we believe and continue to prove that some of the world’s most transformative ideas come from places that are too often ignored. The founders we’ve just welcomed are visionaries, building solutions with the power to uplift communities and shape industries.” The two new portfolio companies—Anavid and Hypeo AI — are examples of Africa’s fast-rising AI innovation.
- Ahmed Chaari and David Nilsson co-founded Anavid, which uses AI to help retailers reduce losses from shoplifting by integrating directly with existing in-store camera systems. The technology also improves customer experience by analyzing in-store behavior and enhancing operations.
- Hypeo AI, founded by Meriam Bessa and Salah Eddine Mimouni, automates influencer marketing for brands. Its AI-driven SaaS platform handles everything from brand matching and content validation to payment processing, simplifying how brands and creators work together.
Speaking on the impact of Madica’s investment, Bessa noted, “Our region is rapidly growing with creative energy, but without the right digital backbone, it often goes untapped. We’re changing that by using AI to reimagine how brands and creators find each other, collaborate, and thrive. Backing by Madica will help us strengthen our AI capabilities to achieve this goal.
Empowering Founders Beyond Capital
Beyond just funding, Madica provides a support structure that many startups struggle to find — from access to global investor networks to hands-on business guidance. The selected founders will also participate in one-week immersion trips, offering access to intensive training, governance workshops, and investor sessions focused on growth and founder well-being. In a move to strengthen the flow of local capital, Madica recently partnered with the African Business Angel Network (ABAN) during its annual congress in Lagos. The partnership enables joint investment opportunities and co-funding efforts between ABAN’s angel investors and Madica’s institutional capital. Yemi Keri, President of ABAN, explained, “The future of Africa’s innovation economy depends on how effectively we can mobilize local capital and empower local investors.” Earlier this year, Madica invested in other standout startups like Medikea, Daleela, Pixii Motors, and ToumAI, underscoring its commitment to diversity and sustainability within Africa’s tech landscape. For startups hoping to join, Madica continues to welcome pitches from founders with working MVPs, customer traction, and a strong African leadership presence. The team is also actively meeting founders at Moonshot by TechCabal in Lagos and Big Angels Day Africa in Dakar this October.
