WellaHealth and MVXchange Receives $37,000 Funding and Support from Founders Factory.
Innovation is important to the advancement of any society as it solves social problems and enhances society’s capacity to act swiftly.
Motor Vessel Xchange (MVXchange) is a Nigerian innovative and tech-driven company that connects vessel charterers directly to local ship owners in the African offshore oil and gas industry. MVXchange operates like an “Uber for the maritime sector.” They connect vessel charterers directly to offshore support vessels (OSV’s) operating on the coast of West Africa.
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Wella Health is a health technology company run by a team of health and technology professionals. The Start-Up launched its malaria testing service in 2019 to ensure every Nigerian has access to malaria testing and care within 15 minutes from their location. The Start-Up partners with pharmacies and helps them procure genuine malaria test tools and drugs, as well as package malaria kits.
These Start-Ups alongside two other African Start-Ups will take part in the six-month program. This period will see them receive mentorship, tailored support services and $37,000 in cash investment.
This is the second set of African Start-Ups that will be accepted into the program this year. An earlier cohort that included Nigeria’s Foodlocker was announced in February 2020.
This is a part of Founders Factory’s drive to design, build and scale 140 disruptive tech Start-Ups across Africa over the next five years. This is through its Venture Scale program which focuses on developing existing Start-Ups that have the potential to scale across the continent.
Founders Factory Africa is a locally grounded and globally connected Start-Up accelerator. The company engages with entrepreneurs, IP, investment, talent, from across the world to deliver value to over 800 million people in 49 sub-Saharan countries. The accelerator’s unique model provides the best support for Start-Up founders by combining the expertise and experience of local & international technical specialists, with access to a global network of investors and exclusive partnerships with the world’s most forward-thinking corporates.
Please check https://www.wellahealth.com/malaria and https://www.mvxchange.com/ for more information on their services. These new technologies, products, and services simultaneously meet a social need and lead to improved capabilities and better use of assets and resources.