Techstars Toronto’s most recent iteration of its accelerator program will feature nine African startups.
On demo day, participating entrepreneurs can gain further funding, have access to mentorship, and receive 120 thousand dollars in cash. A total of 12 startups have been chosen to participate in the Techstars Toronto 2022 Winter cohort. Eight of these startups are based in Nigeria, and one is based in Kenya.
They include the delivery service Fez Delivery, the logistics startup Renda, the payments platform GIGXPAD, the recruitment and payroll service Raenest, and the Glover Technologies digital assets marketplace.
Other startups include Klas, an edtech firm; Simpu, a messaging network; and LaborHack, a marketplace for artisanal goods; nonetheless, the Kenyan company Mamy Eyeglass, an eyewear brand.
Techstars made its first investment in Africa in 2015. Since then, it has backed over 50 African startups focusing on fintech, logistics, agritech, and health tech Quidax, Treepz, TalentQL,Lenco,gigmill and OurPass are just a few of the companies Techstars has backed.
Techstars is one of the most prominent pre-seed investors in the world. It invested in over 3,300 early-stage startups, giving them over $24.4 billion in funding. The total market value of all of its graduate companies is $79 billion.