AfriLabs, known for promoting innovation and entrepreneurship in Africa, has unveiled the AfriLabs Connect Deal Room (ACDR) to tackle the challenges of identifying, funding, and accessing promising startups on the continent.
With over 430 members, AfriLabs aims to streamline financing for diverse African startups and connect investment funds to a continent-wide pipeline of viable and de-risked startups.
At the 2023 Annual Gathering event, AfriLabs introduced the ACDR, a platform designed to simplify the investment process.
Funds and investors can register their startup portfolios in a private pool through the Deal Room, utilising AI to precisely match companies based on factors like ticket sizes and sectors of interest.
AfriLabs’ extensive network of over 500 physical innovation hubs across 54 countries provides additional support to ACDR’s efforts, fostering pan-African collaboration and offering investment readiness resources to startup founders.
Pioneering partners in the ACDR include global venture capital networks like Renew Capital and International Accelerators, along with business support tools such as Silicon Valley in Your Pocket.
Ajibola Odukoya, AfriLabs’ Chief Operating Officer, emphasised that the ACDR is geared toward hubs with mature startups seeking substantial Pre-Series, Series A, B, and C type funds.
The initiative operates on AfriLabs Connect, a purpose-built platform aiming to elevate Africa’s startup ecosystem and uphold AfriLabs’ commitment to fostering innovation and sustainable growth across the continent.
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