Lori Systems wins Startup Battlefield Africa (BFX Africa)


Lori Systems wins TechCrunch’s Startup Battlefield Africa (BFX Africa) after gaining majority votes of the event’s 15 judges. The Kenyan-based Logistics transportation company pitched its platform to enhance all points of the cargo delivery supply chain from the trucks, to the suppliers, to invoicing and costs.

Co-founded by South African Josh Sandler and Kenyan Gichini Ngaruiya, Lori Systems will now compete in TechCrunch’s flagship event, Disrupt San Francisco 2018.

15 other finalists presented before a full house and global audience via live stream. Agtech company Agrocenta supports smallholder farmers improve their value chain, they won the competition’s social good category.

SynCommerce got honors in the gaming and entertainment category, which also included fashion at the Battlefield Africa. The Ghana-based startup helps sellers list and synchronize product inventory and sales across multiple sites, such as Shopify, eBay and Etsy.

Startup Battlefield Africa also included a panel lineup that discussed a whole lot from investing in startups to solving Africa’s internet connectivity equation. Some of October’s bigger African tech headlines dropped around speaker-related companies.

The technology training and job placement company Andela raised $40 million in Series C funding. The financing came from CRE Venture Capital, a Pan-African venture firm, with additional participation from DBL PartnersAmploSalesforce Ventures and Africa-focused TLcom Capital.

Previous investors, including the Chan Zuckerberg Initiative, GV and Spark Capital, also joined in funding.

Andela says it will use the money to fund an aggressive expansion plan — including the launch of offices in two additional African countries.

E-commerce company Jumia, Africa’s first startup company valued at over $1 billion, is expanding the Jumia small business loan program into every country where the company operates.

Working with the San Francisco-based lender Branch, Jumia began offering small businesses startup loans in May. The loans were pegged to vendors’ sales history with Jumia and future performance projections.

Safaricom, Kenya’s largest telecom company and provider of the nation’s mobile money service M-Pesa launched a new innovation center in Nairobi.

Named Safaricom Alpha, a priority of the incubator is to identify spending patterns on M-Pesa and turn those insights into additional Safaricom products according to Chief Innovation Officer Kamal Bhattacharya.

“We’d actually like to move beyond M-Pesa by leveraging its power as a social network to connect people to other product solutions,” he said.

Bhattacharya sees one of the innovation center’s first products “as a messenger solution with full payment integration to better support the kind of social patterns that our customers are already using informally.”

Some management positions have already been named. Former African Development Bank technology lead, Dr. Shikoh Gitau, will be Head of Products Innovation. Safaricom’s Veronica Ogeto-Tchoketch will head the innovation center’s Strategic Partnerships unit and David Nyamai will manage Business Intelligence and Big Data team.

The product incubator will eventually connect to a VC function, including Safaricom’s Spark Venture Fund, to support investments and partnerships, according to Bhattacharya.

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