Madica, a structured investment program for pre-seed African startups backed by Flourish Ventures, has expanded its portfolio with new investments in Anavid (Tunisia) and Hypeo AI (Morocco).
Each startup will receive up to $200,000 and join Madica’s 18-month program offering mentorship, executive coaching, and fully funded immersion trips to key tech ecosystems.
Why it matters
Africa’s early-stage funding remains heavily concentrated in a few markets and sectors. Madica’s approach targets underrepresented founders and startups in underserved regions, aiming to make venture capital more inclusive and distributed across the continent.
The startups
- Anavid (Tunisia): Co-founded by Ahmed Chaari and David Nilsson, the AI-powered platform integrates with retail cameras to detect shoplifting and enhance in-store experiences.
- Hypeo AI (Morocco): Founded by Meriam Bessa and Salah Eddine Mimouni, the SaaS tool automates influencer marketing—from brand matching and content validation to payments.
What they’re saying:
“Some of the world’s most transformative ideas come from places too often ignored,” said Emmanuel Adegboye, Head of Madica. “These founders are visionaries building solutions that can uplift communities and shape industries.”
“We’re reimagining how brands and creators connect and collaborate,” said Meriam Bessa, co-founder of Hypeo AI. “Madica’s backing will help us strengthen our AI capabilities and expand our reach.”
The bigger picture
Madica also announced a strategic partnership with the African Business Angel Network (ABAN) during the ABAN Congress in Lagos. The collaboration will allow Madica and ABAN-affiliated angels to share deal flow and explore co-investment opportunities, increasing access to capital for startups across Africa.
“Our partnership with Madica bridges the gap between angel investors and institutional capital,” said Yemi Keri, President of ABAN. “It’s a critical step toward ensuring more funding and support come from within the continent.”
Between the lines
Madica, launched in 2022, is sector-agnostic and designed to fill structural gaps in Africa’s startup ecosystem—from lack of capital to limited mentorship. Its growing portfolio already includes Medikea, Daleela, Pixii Motors, and ToumAI, with an emphasis on gender diversity and founder well-being.
What’s next
Madica is continuing to scout for startups across Africa. Eligible founders with an MVP, paying customers, and limited prior institutional funding can apply via the Madica website.
The team will also engage founders at Big Angels Day Africa in Dakar later this month.
