Renew Capital Selects 15 African Startups for First Venture Lab Cohort

Renew Capital has selected 15 African technology startups from more than 500 applicants across 48 countries to advance to the next stage of its inaugural Renew Venture Lab: EmFi Series. The startups were chosen after applicants took part in founder-led training sessions and a pitch competition that narrowed the field to 47 companies for a final pitching round, each of which received a startup support package worth more than $250,000 before the cohort was cut down to 15 for technical training and investment consideration.

Fifteen Startups From Ten Countries

The selected companies come from Ethiopia, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Togo, Uganda and Zambia, spanning agriculture, logistics, health, financial technology, software and enterprise services. The cohort includes AgroCenta, Boost Technology, Dots for Africa, Fanaka, Kutana, MajibuAfrica, Marakisoft, Oze, Regxta, Rigo, Shiprazor, Solimi, Tradevu, Z Systems and Zendawa. Renew Capital said many of the companies are building financial tools and digital services aimed at small and medium-sized businesses, a segment it considers underserved by traditional banks. The EmFi in the program name refers to embedded finance, the practice of building lending, payments or insurance features directly into the software that businesses already use day to day, rather than requiring them to open a separate account with a bank, an approach several of the selected startups are applying to sectors ranging from agricultural supply chains to logistics and shipping.

Training Founders Before Writing Cheques

Renew Capital Co-Chief Executive Officer Matthew Davis said the next generation of financial services for African businesses is likely to come from technology companies that already understand their customers rather than from traditional banks. Renew Capital, which operates in 13 African countries and ranks among the continent's most active early-stage investors, designed the Venture Lab to help founders strengthen their businesses while identifying which ones could receive future investment, rather than writing cheques first and offering support later.

Looking Beyond the Usual Startup Hubs

The Venture Lab reflects a broader shift in African venture capital toward supporting startups before they raise institutional funding, with investors increasingly offering training, mentoring and technical support to improve investment readiness rather than investing only once companies have already matured. The geographic spread of the cohort is notable in its own right: with founders drawn from 10 countries rather than the handful of markets that usually dominate headlines, the selection suggests investors are looking beyond Nigeria, Kenya, Egypt and South Africa for opportunities, into markets such as Togo, Zambia and Morocco that receive comparatively little venture attention.

For the founders involved, participation in the Venture Lab offers access to investors, mentors and potential funding at a stage when many African startups still struggle to reach seed rounds. For the wider venture ecosystem, programs structured this way are intended to build a stronger pipeline of companies that are better prepared for seed and Series A investment, even as global venture funding remains more selective than during the market peak of 2021 and 2022. Renew Capital said the EmFi Series cohort will now move into a period of technical training before any investment decisions are made.

Source: AllAfrica - Daba Finance