Sabi Am closed a $6 million bridge round amidst record growth, expanded to Kenya last month, and plans to launch in South Africa next year. But why a bridge round?
Fundraising is the process in which startups raise funds externally. In exchange for funds, investors are offered shares in the startup. Investors could be family, friends, angel investors, venture capitals, etc, depending on the seed round.
VC4A Venture Showcase, an exclusive program of choice for Africa-focused early-stage investors and hand-picked startups looking to raise their Seed and Series A rounds, is back in its 5th edition as part of the annual Africa Early Stage Investor Summit.
This comes just under a year after Okra closed its $1m pre-Seed round with only TLcom Capital participating in the round. It brings Okra’s total funding at seed to $4.5m.