Madica Invests in Five Startups Across Multiple African Markets

Pre-seed investment program Madica has announced five new portfolio additions, marking its first investments in Algeria and Cameroon while strengthening its presence across the continent. The sector-agnostic platform, affiliated with Flourish Ventures, provides funding and company-building support to underrepresented founders.

New Investments Across Africa

The five startups joining Madica’s 18-month program include:

• Talenteo (Algeria): All-in-one HR management platform
• Paysika (Cameroon): Digital neobank
• ChipMango (Nigeria): Building Africa’s semiconductor ecosystem through chip design, education, and AI products
• Delta Oil (Egypt): Infrastructure connecting used cooking oil collection with international buyers
• Bekia (Egypt): Digital platform for Egypt’s recycling economy

Each startup will receive up to $200,000 in funding along with mentorship, executive coaching, and access to Madica’s global investor network.

Expanding Access to Early-Stage Capital

Madica’s investments reflect a strategy of backing founders tackling critical challenges across diverse African markets. The additions to Algeria and Cameroon represent rare institutional venture capital entries into two historically overlooked ecosystems.

“We’ve always believed exceptional founders are everywhere in Africa, yet funding remains concentrated,” said Emmanuel Adegboye, head of Madica. “These investments demonstrate that world-class businesses can emerge from any market with the right support.”

With these five additions, Madica now supports a total of 18 pre-seed startups across multiple African countries, furthering its mission to democratize access to early-stage capital and empower underrepresented entrepreneurs.