Three African startups to join Katapult Accelerator’s third cohort

Norwegina-based Katapult Accelerator has selected three African startups from Kenya, Egypt and Tunisia to join its third cohort. The three, will join nine others selected from across the globe to participate in the programme’s third cohort that will last three months.

The three are:

  • Kenyan banking solution FinAccess – a cloud-based core banking system that aims to provide MFIs with an end to end process automation that reduces costs, is easy to configure, improves efficiency and enables MFIs to scale especially for rural populations.
  •  Egyptian edtech PraxiLabs which makes low-immersion virtual reality science labs that are accessible, usable, and affordable for educational institutions and schools.
  • Tunisian tech talent accelerator Think.iT – which helps companies build top-performing engineering teams by investing in North Africa’s future technology leaders.

Other who made it through are:

  • Bio-Me (Norway) – a Norwegian-based biotech company and the culmination of 20 years of research on the best ways to detect various bacteria in communities.
  • EcoG (Germany) – solves the monetisation and integration problem of electric vehicle (EV) charging infrastructure with a software-only solution.
  • Esusu (US) – which is making it easier for marginalized communities to build up their savings, access larger sums of capital, and boost their credit scores through a suite of fintech services designed to promote financial resiliency.
  • Farmforce (Norway) – a Software-as-a-Service solution that simplifies the management of smallholder farmers, increases traceability and enables access to formal markets.
  • Pro-Drone (Portugal) –  is implementing autonomous flight control algorithms to enable distance control and precise environmental awareness to UAVs, allowing them to carry out much more robust, safe and cost-efficient inspections.
  • SiMBi (Canada) – helps people FALL IN LOVE with Reading. We are the only reading technology that motivate its users to read out loud (ROL) understanding that their voices are teaching people around the world through reading while listening (RWL).
  • Sp8ces (Denmark) built on a sharing economy model, Sp8ces is enabling the future of work by augmenting a network of physical work clubs with a platform for entrepreneurs, startups, creative minds and innovative corporates to work, meet, learn and collaborate.
  • Virtue (UK) – an immersive tech company developing VR/AR solutions for improving health and wellness. Its first solution is an award-winning VR platform to enhance emotional wellbeing and quality of life for people with dementia through immersive Reminiscence Therapy.
  • WeFitter (Spain) – a mobile health data-driven solution that helps companies improve business performance and reduce healthcare costs by motivating employees to commit to a more active lifestyle.

In a statement last week Katapult Accelerator managing partner and co-founder Haakon Brunell (pictured above, left) said the 12 startups had been selected from among 1500 companies from 107 countries.

Each of the 12 startups will partake in a dynamic, hands-on program to help scale their business and increase their impact. They will also receive investment of up to USD 150,000 each from the Katapult Accelerator Fund in exchange of an equity stake.

In addition, the accelerator’s programme will provide participants access to its network of global investors and partnerships that can boost startups into their next phase of development, specific to their growing needs.

Brunnel explained that the accelerator provides participants with “an environment of opportunities” and an ecosystem to enhance their business model and scale.

“Our goal for each company is to prepare them for their next investment round, so that they achieve two to three times their original valuation, a track record we aim to keep,” noted Brunell.

Applications for Katapult Accelerator’s fourth cohort, which kicks off next year in February, are now open and close 2 November. Check out the video of the official launch of Katapult Accelerator’s third cohort here.

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