Madica Deploys $1M into Five African Startups, Expanding into Algeria and Cameroon

LAGOS / CAIRO — Africa-focused pre-seed program Madica has announced a fresh cohort of investments, deploying up to $200,000 each into five early-stage startups.

The latest round marks a structural milestone for the platform, featuring its maiden investments in Algeria and Cameroon as it actively targets venture capital blind spots outside the continent’s established "Big Four" ecosystems.

Diversifying Beyond the "Big Four"

While capital deployment across sub-Saharan Africa has historically pooled in Nigeria, Kenya, South Africa, and Egypt, Madica’s new batch spans four markets with an eye on overlooked sectors:

• Talenteo (Algeria): Madica’s first entry into the Algerian market, providing all-in-one HR management software for mid-market businesses across Francophone Africa.
• Paysika (Cameroon): Marking the program's debut in Cameroon, operating a digital neobank that issues virtual and physical payment cards for consumers and SMEs throughout Central Africa.
• ChipMango (Nigeria): A deep-tech venture building semiconductor design services and localized Edge AI hardware education.
• Delta Oil (Egypt): Connecting fragmented used cooking oil (UCO) collection networks with international buyers to supply renewable fuel feedstock.
• Bekia (Egypt): A digital waste-management platform that pays households and businesses for recyclable solid waste before supplying industrial buyers.

"Our original thesis, which still holds, is that we would back founders across sectors, markets, and founder profiles that are typically underfunded on the continent," said Emmanuel Adegboye, Head of Madica.

High-Touch Program Architecture

Affiliated with Flourish Ventures, Madica pairs its capital injection with a structured 18-month support program. Founders receive executive coaching, peer learning networks, immersive trips, and access to a global investor community designed to bridge early-stage execution gaps and prepare teams for institutional follow-on rounds.

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