DealMakers AFRICA

WeLight announced that the International Finance Corporation (IFC), has invested €27 million in the provider of rural electrification through mini-grids in sub-Saharan Africa. WeLight was founded in 2018 by AXIAN, Sagemcom and Norfund. The funding will enable the company to accelerate its geographic expansion with the launch of operations in Nigeria and the Democratic Republic of Congo (DRC), while strengthening its operations in Madagascar and Mali.

Spiro, the electric vehicle (EV) and clean energy infrastructure platform, announced the successful closing of its latest funding round at US$270 million. This comes from a newly finalised $55 million investment from NewTrails Capital. On the back of support from long-standing institutional partners such as FEDA, Spiro’s latest equity round also drew global capital from Europe and Africa, Impact Fund Denmark, Equitane and FEDA, on top of the recent backing from Nithio and the Africa Go Green Fund.

‍A Tunisian agritech firm, RoboCare, has secured a six-figure investment from venture capital firm 216 Capital to support its next growth phase and expand across Africa and the Middle East. RoboCare develops an agricultural management platform that helps farmers make better decisions through the intelligent use of multiple data sources: satellite imagery, drone data, IoT sensors, weather data, and field expertise. Through its AI models, the solution enables early detection of crop diseases and stress, optimises resource usage, and improves farm performance.

Agenz, a Moroccan proptech, has announced a US$5 million oversubscribed seed round led by BREEGA, Attijariwafa Ventures, and Saviu Ventures. The new funding will be used to accelerate its expansion beyond property data and transaction services and into the financial infrastructure layer of real estate.

The European Investment Bank’s international development arm, EIB Global, and Wema Bank, Nigeria’s oldest indigenous national bank, has announced a strategic partnership agreement with the signing of a €50 million SME-focused credit line for youth and women-focused businesses in Nigeria.

DealMakers AFRICA is the continent’s quarterly M&A publication
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