09/23 Tech Roundup: On 54Gene, Acquisitions & the rise of Pre-Series A rounds.

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Episode Summary:

In this episode, we dove deep into some pressing topics in the African startup ecosystem. We started by debating whether founders, who've previously faced challenges or setbacks, deserve a second shot. Taking cues from 54Gene's puzzling shutdown and its ex-CEO's swift pivot to a seemingly parallel venture, we question the implications for the broader entrepreneurial landscape.

Transitioning to funding, we discussed Mecho Autotech's recent funding triumph and ponder over the sudden surge in pre-Series A rounds in our ecosystem—What is behind this trend, and what it signals for startups on the continent.

Lastly, we discussed the accelerating pace of acquisitions in our ecosystem. We highlighted some recent deals, speculated about future mergers and discussed their potential impact.

If you're curious about the intricacies of Africa's tech and startup scene, this episode is a must-listen. So tune in, take notes, and be prepared to be inspired. Be sure to subscribe, share, and tweet about this podcast, and follow @vizibleafrica on Twitter for more exciting episodes.

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Episode Chapters:

(0:00:15) - Founders' Second Chances and Accountability

(0:12:57) - Startups and Funding in Africa

(0:23:18) - Nexus of Pre-Series A Funding in African Startups

(0:35:17) - Acquisition Valuation and Funding Signals

(0:46:28) - Recent Acquisitions in the Market

(0:54:42) - Predictions for Acquisitions in the African Tech Space

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Transcript: https://docs.google.com/document/d/1HhiJIbvFjFEMD4lh_9-p5yBY7gWREn7Dg-I8wSczG2E/edit?usp=sharing

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Some of the things we referenced:

• 54gene:

  • https://techcrunch.com/2022/10/24/54gene-ceo-steps-down-as-the-company-looks-to-cut-more-jobs/

  • https://techcabal.com/2023/09/27/54gene-shutting-down-operations/
    

• Mecho Autotech raises $2.4M, ventures into wholesale spare parts distribution

  • https://techcrunch.com/2023/09/14/mecho-autotech-raises-2-4m-ventures-into-wholesale-spare-parts-distribution/
    

• Acquisitions Galore:

  • https://vizible.substack.com/i/137543868/key-moves-in-the-market-acquisitions-and-expansions

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• Website: https://www.vizible.africa/

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• Twitter: https://twitter.com/vizibleafrica

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You can find us at:

• Dami's Twitter: https://twitter.com/LongLiveDumi

• Dami's LinkedIn: https://www.linkedin.com/in/damilolaoludumila/

• Yemi's Twitter: https://twitter.com/YemiA_

• Yemi's LinkedIn: ⁠https://www.linkedin.com/in/yemiadegbayi/

• Tage’s Twitter: https://twitter.com/ulonnaya

• Tage’s LinkedIn: https://www.linkedin.com/in/tage-kene-okafor/