Africa-focused early-stage investment firm Madica has announced a significant investment of $800,000 in four startups across Egypt, Tunisia, and Morocco. This move marks the firm's first foray into the North African corridor, expanding its geographic reach and portfolio.

The four startups that have received funding are Medikea, a Tanzanian startup providing access to instant healthcare services through its first-line clinics; Motherbeing, an Egyptian healthcare chat-based app for nursing mothers; Pixii Motors, a Tunisian e-mobility startup building electric motorcycles with swappable batteries; and ToumAI, a Moroccan startup using AI-powered voice analytics to help businesses extract insights from customer interactions. Each startup will receive $200,000 in funding.

Madica's investment in these startups is not only a testament to the firm's commitment to supporting innovative businesses in Africa but also reflects its focus on high-growth industries such as healthtech, e-mobility, AI, and SaaS. The firm's portfolio now comprises eight startups, with a total investment of $1.6 million since its launch in 2022.

What's notable about Madica's investment approach is its emphasis on gender diversity in leadership teams. According to Emmanuel Adegboye, Head of Madica, the firm has exceeded its goal of 50% gender diversity in its portfolio companies, with a significant portion of its portfolio having female CEOs.

Madica's investment strategy is designed to support startups with a minimum viable product (MVP) and founders working full-time on their ventures. The firm plans to invest $6 million in 30 African startups by 2025, demonstrating its confidence in the continent's entrepreneurial ecosystem.

The expansion into the North African corridor marks a significant milestone for Madica, which previously only had Southern and West African startups in its portfolio. The firm's investments in Egypt, Tunisia, and Morocco demonstrate its commitment to supporting innovation and entrepreneurship across the African continent.

As the African startup ecosystem continues to grow, investments like Madica's will play a crucial role in supporting entrepreneurs and driving economic development. With its focus on high-growth industries and commitment to gender diversity, Madica is well-positioned to make a meaningful impact in the region.

As the firm continues to expand its portfolio and geographic reach, it will be interesting to see how its investments shape the African startup landscape and contribute to the continent's economic growth.