Thursday, June 30, 2022
Thursday, June 30, 2022
Home Funding Mobility 54 opens pitch for African startups to compete for funding

Mobility 54 opens pitch for African startups to compete for funding

by Milcah Lukhanyu
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Mobility54, a Corporate Venture Capital of Toyota Tsusho & CFAO group is calling on innovative African startups to apply for its 2022 Digital Transformation Challenge.

The venture capital is looking for innovative solutions in its five investment areas which include logistics, transport, mobility marketplace, mobility fintech, and mobility carbon neutral.

According to the company, applicants for the challenge stand the chance to be the first in line to get access to its potential direct capital investments. They would also have an opportunity of being introduced to other world-class investors.

While noting that the applications close on June 15th, 2022, it said selected startups would be announced in a special event, gathering investors, top managers, and international decision-makers – to be organised at the time of the Tokyo International Conference on African Development (TICAD#8).

Mobility 54 was established in October 2019 and completed its 1st fund investment period at the end of December 2021.

In April this year, Mobility 54 invested $2 million in Nigerian startup, OnePort, a digital cross-border logistics platform.

The company says it is investing “With Africa For Africa”, and helping solve the social and industrial challenges in Africa.

Eligibility

To be eligible for the programme, Mobility 54 said: “Applicants will need to meet the following criteria:

Be early to mid-stage start-up realizing a significant part of the activity in Africa

Operate in the Mobility Tech & Services business sector

Businesses with a minimum of 3 months’ revenues

Be an innovator and demonstrate a growth potential with strong market traction.”

The company says it is investing “With Africa For Africa”, and helping solve the social and industrial challenges in Africa.

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