Madica, the pre-seed investment program affiliated with Flourish Ventures, continues its mission to address structural funding gaps in Africa’s startup ecosystem. The program has announced new investments of up to $200,000 each for two promising AI-powered companies: Anavid (Tunisia) and Hypeo AI (Morocco).
This latest round reinforces Madica’s commitment to funding founders and startups often excluded from traditional venture capital, countering the heavy concentration of tech funding in just a few markets and well-networked entrepreneurs.
The two selected startups showcase the application of cutting-edge AI technology to solve real-world industry problems in North Africa:
- Anavid (Tunisia): Co-founded by Ahmed Chaari and David Nilsson, Anavid offers an AI-powered solution that integrates seamlessly with existing retail cameras. Its primary function is to reduce shoplifting losses and enhance the overall customer experience.
- Hypeo AI (Morocco): Founded by Meriam Bessa and Salah Eddine Mimouni, Hypeo AI is a SaaS platform that automates every step of influencer marketing, from brand matching and content validation to payments. Meriam Bessa, CEO of Hypeo AI, noted that Madica’s backing will help them “strengthen their AI capabilities.”
As Emmanuel Adegboye, Head of Madica, stated, “The founders we’ve just welcomed are visionaries, building solutions with the power to uplift communities and shape industries.”
Both Anavid and Hypeo AI will join Madica’s comprehensive 18-month program. This structured support is designed to tackle critical challenges faced by early-stage African startups, offering:
- A tailored curriculum and hands-on mentorship.
- Executive coaching and support for founder well-being.
- Two fully-funded immersion trips to connect with key technology ecosystems, both locally and internationally.
To ensure its portfolio companies have long-term success, Madica simultaneously announced a key strategic partnership with the African Business Angel Network (ABAN) during the annual ABAN Congress in Lagos.
This collaboration is vital for mobilizing local capital. Madica and ABAN-affiliated angels across the continent will now share deal flow and explore co-investment opportunities. According to Yemi Keri, President of ABAN, this helps “bridge the gap between angel investors and institutional capital, ensuring that more funding comes from within the continent.”
By actively supporting category-defining startups and building essential capital networks across Africa, Madica continues to drive innovation and entrepreneurship, focusing on founders with an MVP and paying customers from every corner of the continent.
