Madica, a structured investment program designed for pre-seed startups in Africa, has announced its latest round of investments in four tech-enabled startups—Medikea, Motherbeing, Pixii Motors, and ToumAI.
Launched in 2022 and affiliated with fintech-focused VC firm Flourish Ventures, Madica is a sector-agnostic initiative that aims to address structural gaps in Africa’s startup ecosystem. The program tackles major challenges such as limited access to capital, a scarcity of investors, insufficient mentorship, and a lack of structured support—factors crucial for startups to resolve key issues, drive innovation, and foster entrepreneurship and wealth creation across the continent.
Initially backing four startups, Madica has now doubled its portfolio by investing in four more: Tanzanian e-health platform Medikea, Egyptian AI-driven wellbeing service Motherbeing, Tunisian mobility startup Pixii Motors, and Moroccan customer experience (CX) platform ToumAI.
Each startup has received up to $200,000 in investment and will participate in Madica’s 18-month support program, which includes a highly personalized curriculum, hands-on mentorship, and two fully-funded week-long founder immersion trips to key startup ecosystems—Cape Town and London. Additionally, portfolio companies will gain access to executive coaching opportunities and Madica’s extensive global investor network for follow-on funding, ensuring long-term sustainability and growth.
“What’s particularly exciting is that we set out to build a portfolio with at least 50% gender diversity in leadership teams. We are currently exceeding that goal, with a significant portion of our portfolio led by female CEOs,” said Emmanuel Adegboye, head of Madica. “Additionally, these investments span eight different countries and six diverse sectors—exactly the kind of portfolio diversity Madica aims to achieve across underrepresented geographies, industries, and founder profiles.”
Madica’s approach extends beyond financial support, aiming to create a robust pipeline of investable startups across Africa. The program’s structure ensures that founders receive not only funding but also strategic guidance, operational support, and exposure to global markets. By combining capital with capacity-building efforts, Madica seeks to bridge gaps in Africa’s entrepreneurial ecosystem and elevate high-potential startups.
With Africa’s startup ecosystem growing rapidly but still facing challenges in securing early-stage funding and mentorship, initiatives like Madica play a critical role in shaping the next generation of successful tech companies on the continent. As it continues expanding its reach, Madica remains committed to fostering innovation, diversity, and long-term impact across Africa’s emerging startup landscape.