The Katapult Accelerator invests $450,000 into Kenya’s FinAccess, Egypt’s PraxiLabs & Tunisia’s Think.iT

Kenya’s FinAccess, a cloud-based core banking system, Egypt’s PraxiLabs which makes low-immersion virtual reality science labs for schools and Tunisia’s Think.iT which helps companies build top-performing engineering have each received $150,000 from Katapult Accelerator’s latest three-month accelerator program.

The three among the 12 selected, impact-focused, startups which aim to solve some of the world’s environmental or societal problems with the support of the accelerator’s core team alongside their network of 120+ international mentors.

From August to November 2018, each of the 12 startups will partake in a dynamic, hands-on program to help scale their business and increase their impact. KA provides a network of global investors and partnerships that can boost the startups into their next phase of development, specific to their growing needs.The Katapult Accelerator Fund invests up to USD 150,000 in each startup for an equity stake.

“After reviewing candidates from 107 countries, we were humbled with the interest from companies globally who were keen to join our program. We had the chance to select our third batch from over 1500 companies and we’re excited to welcome the third cohort on this journey. We provide the startups, whose focus is to drive global positive change with the use of exponential technologies, an environment of opportunities and an ecosystem to enhance their business model and scale. Our goal for each company is to prepare them for their next investment round, so that they achieve two to three times their original valuation, a track record we aim to keep,” says Haakon Brunell, Managing Partner and Co-Founder of Katapult Accelerator.

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This group will be the third batch to participate in the accelerator program since its inception in the fall of 2017. Of the 12 startups that participated in the first batch, 10 of them received offers for additional funding.

At the end of the program, the startups will have refined their vision, strategy, impact orientation, technology application, growth marketing and business model. A unique element in the Katapult Accelerator is the focus on team ‘body and brain’ improvement, to further enable the startups to build on their greatest asset; their mission-driven team.

The 12 startups selected represent 11 countries from around the world from varied fields and backgrounds.

Bio-Me (Norway)

Bio-Me AS is a Norwegian-based biotech company and the culmination of 20 years of research on the best ways to detect various bacteria in communities.

EcoG (Germany)

EcoG solves the monetisation and integration problem of electric vehicle (EV) charging infrastructure with a software-only solution.

Esusu (US)

Esusu is making it easier for marginalized communities to build up their savings, access larger sums of capital, and boost their credit scores through a suite of fintech services designed to promote financial resiliency.

Farmforce (Norway)

Farmforce is a Software-as-a-Service solution that simplifies the management of smallholder farmers, increases traceability and enables access to formal markets.

FinAccess (Kenya)

FinAccess is a cloud-based core banking system that aims to provide MFIs with an end to end process automation that reduces costs, is easy to configure, improves efficiency and enables MFIs to scale especially for rural populations.

PraxiLabs (Egypt)

PraxiLabs makes low-immersion virtual reality science labs that are accessible, usable, and affordable for educational institutions and schools.

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Pro-Drone (Portugal)

Pro-Drone is implementing autonomous flight control algorithms to enable distance control and precise environmental awareness to UAVs, allowing them to carry out much more robust, safe and cost-efficient inspections.

SiMBi (Canada)

SiMBi helps people FALL IN LOVE with Reading. We are the only reading technology that motivate its users to read out loud (ROL) understanding that their voices are teaching people around the world through reading while listening (RWL).

Sp8ces (Denmark)

Built on a sharing economy model, Sp8ces is enabling the future of work by augmenting a network of physical work clubs with a platform for entrepreneurs, startups, creative minds and innovative corporates to work, meet, learn and collaborate.

Think.iT (Tunisia)

Think.iT helps companies build top-performing engineering teams by investing in North Africa’s future technology leaders.

Virtue (UK)

Virtue is an immersive tech company developing VR/AR solutions for improving health and wellness. Its first solution is an award-winning VR platform to enhance emotional wellbeing and quality of life for people with dementia through immersive Reminiscence Therapy.

WeFitter (Spain)

WeFitter is a mobile health data-driven solution that helps companies improve business performance and reduce healthcare costs by motivating employees to commit to a more active lifestyle.

 

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