Renew Capital has chosen 15 African technology startups from over 500 applicants spanning 48 countries to progress in its inaugural Renew Venture Lab: EmFi Series. These startups were selected following founder-led training and a competitive pitching process, with 47 finalists receiving a support package worth $250,000 before the final cohort was determined.
The chosen companies represent 10 African nations: Ethiopia, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Togo, Uganda, and Zambia. The cohort features startups such as AgroCenta, Boost Technology, Dots for Africa, Fanaka, Kutana, MajibuAfrica, Marakisoft, Oze, Regxta, Rigo, Shiprazor, Solimi, Tradevu, Z Systems, and Zendawa.
Many of the selected startups are developing financial tools and digital solutions tailored for small and medium enterprises. Co-CEO Matthew Davis emphasized that the future of African business finance will likely emerge from tech firms intimately familiar with their customers, rather than traditional banking institutions.
As one of Africa’s most active early-stage investors, Renew Capital operates across 13 countries. The Venture Lab aims to enhance founder capabilities while identifying startups with potential for future investment.
Key Takeaways
This program underscores a growing trend in African venture capital to support startups pre-institutional funding. Rather than waiting for maturity, investors now focus on training, mentorship, and technical development to boost readiness. The cohort spans sectors including agriculture, logistics, health, fintech, software, and enterprise services, highlighting a shift beyond consumer fintech toward operational efficiency tools. The geographic diversity—10 countries versus concentrated hubs—signals a broader search for untapped innovation sources.
This approach aligns with increasing recognition that technology can address financing, productivity, and market access gaps for Africa’s dominant SME sector. For founders, the program provides investor access, mentorship, and funding opportunities. For the ecosystem, such initiatives foster a pipeline of startups better prepared for seed and Series A rounds, despite tighter global funding conditions compared to 2021-2022 peaks.
