AfriLabs launches Connect Deal Room to enhance the investment scene for local startups

AfriLabs, an organization that supports innovation hubs, has unveiled the AfriLabs Connect Deal Room (ACDR) to tackle the critical challenges of identifying investible startups in Africa and facilitating their funding. As a networked organization dedicated to fostering innovation and entrepreneurship in Africa, AfriLabs brings together tech hubs, startups, investors and other crucial ecosystem players, boasting over 430 members.

The ACDR was announced at the 2023 Annual Gathering event of AfriLabs, with a central objective to streamline financing for innovative startups in various sectors across Africa. At the same time, it offers investment funds access to a pan-African pipeline of investible and de-risked startups.

Through the Deal Room, funds and investors can register their portfolio startups into a private pool. Companies are then matched accurately based on multiple factors such as ticket sizes, sector of interest, and specifics, leveraging AI.

Furthermore, AfriLabs’ extensive network of over 500 physical innovation and tech hubs across 54 countries facilitates follow-up support for ACDR by encouraging pan-African collaboration and providing additional investment readiness resources to startup founders within the initiative.

Global venture capital networks like Renew Capital and International Accelerators, and business support tools such as Silicon Valley in Your Pocket are pioneering partners in the ACDR.

AfriLabs’ Chief Operating Officer, Ajibola Odukoya, highlighted that the ACDR is designed for mature startups requiring sizeable pre-Series, Series A, B, C type of funds.

AfriLabs Connect will host the ACDR, a bespoke ecosystem engagement platform gathering Africa’s most extensive community of innovation enablers. This project is a significant leap forward in advancing Africa’s startup ecosystem, further demonstrating AfriLabs’ commitment to promoting innovation, collaboration, and sustainable growth across Africa.