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US pre-seed funder Madica invests in 5 African startups

US-based pre-seed investor Madica has committed to backing five new startups in Africa, boosting its presence across the continent.

The company, an affiliate of $850 million global early-stage venture firm Flourish Ventures, will deploy up to $200,000 each to Talenteo in Algeria, Paysika in Cameroon, ChipMango in Nigeria and Delta Oil and Bekia in Egypt.

Talenteo is an HR platform providing human resources management for companies in Francophone Africa, while Paysika is a neobank that offers digital and physical payment cards to consumers and small and medium-sized enterprises in Central Africa.

ChipMango develops semiconductor ecosystems, providing services that include chip design, engineering training and local Edge AI products.

Delta Oil connects used cooking oil collectors with buyers worldwide for biofuel production, while Bekia operates a waste management platform that enables households and companies to monetise recyclables, thereby supplying raw materials to industrial buyers.

The startups will benefit from an 18-month investment programme, including hands-on mentorship and executive coaching from Madica.

(Writing by Cleofe Maceda; editing by Seban Scaria)