Madica Invests $400K in Two African AI Startups

Investment program Madica has announced funding for two African AI startups, with each company receiving $200,000. Tunisian startup Anavid and Moroccan firm Hypeo AI will also join Madica’s 18-month program that provides mentorship, executive coaching, and immersion trips to global technology hubs.

Anavid, co-founded by Ahmed Chaari and David Nilsson, uses AI to integrate with retail camera systems to reduce shoplifting and improve customer experience. Hypeo AI, founded by Meriam Bessa and Salah Eddine Mimouni, automates influencer marketing processes, including brand matching, content validation, and payments.

Madica, launched in 2022 and affiliated with Flourish Ventures, focuses on addressing structural challenges within Africa’s startup ecosystem. Its program offers capital, training, and investor access to underrepresented founders and startups from underserved regions.

The investment follows Madica’s earlier backing of startups such as Medikea, Daleela, Pixii Motors, and ToumAI. The firm also recently established a partnership with the African Business Angel Network to expand funding opportunities and co-investment options for African startups.