Madica Backs Two AI Startups, Partners with ABAN to Boost Deal Flow
Madica, a structured investment program for pre-seed African startups, has announced new investments in two AI-powered companies, Anavid and Hypeo AI.
The program, which is affiliated with Flourish Ventures, has also partnered with the African Business Angel Network (ABAN) to expand investment flow and ecosystem networks for its portfolio companies.
Each new company has secured up to $200,000 in funding and will join Madica’s 18-month program. The program provides a tailored curriculum, hands-on mentorship, and two fully-funded immersion trips to key technology ecosystems.
The strategic partnership with ABAN was announced during the annual ABAN Congress in Lagos. The collaboration will enable Madica and ABAN-affiliated angels to share deal flow and explore co-investment opportunities.
Emmanuel Adegboye, Head of Madica, said the investments reinforce the program’s commitment to supporting founders from often-ignored places.
“At Madica, we believe and continue to prove that some of the world’s most transformative ideas come from places that are too often ignored,” Adegboye said. “The founders we’ve just welcomed are visionaries… We’re proud to stand with them as they take on the next stage of their journey.”
Yemi Keri, President of ABAN, said the partnership will help mobilize local capital and bridge the gap between angel investors and institutional capital.
“Our collaboration with Madica helps bridge the gap between angel investors and institutional capital, ensuring that more funding comes from within the continent, and that startups everywhere in Africa can access the right type of support to scale,” Keri stated.
The new startups include Anavid from Tunisia, an AI solution that integrates with retail cameras to reduce shoplifting, and Hypeo AI from Morocco, an AI-driven platform that automates influencer marketing.
Meriam Bessa, co-founder and CEO of Hypeo AI, said the backing from Madica will help strengthen the company’s AI capabilities.
Madica aims to support underrepresented founders and address structural gaps in Africa’s startup ecosystem, such as limited access to capital and mentorship.
The program is welcoming new pitches from African founders via its website.
