About AfriLabs
AfriLabs is a company based in Abuja (Nigeria) founded in 2011 by Ben White. It operates as a Aggregator Model, and Professional Services. AfriLabs has raised $31.97 thousand across 3 funding rounds from investors including FMO and European Union. AfriLabs offers products and services including AfriLabs Connect, RevUp Women Initiative, Catalytic Africa Programme, AfriLabs Capacity Building Programme, and DeBPO Remote Work Initiative.
- Headquarter Abuja, Nigeria
- Founders Ben White
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Sectors
Government & Social Sector
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Afrilabs
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$31.97 K (USD)
in 3 rounds
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Latest Funding Round
$228.05 K (USD), Grant
Dec 01, 2023
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Investors
FMO
& 1 more
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Employee Count
Employee Count
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Products & Services of AfriLabs
AfriLabs offers a comprehensive portfolio of products and services, including AfriLabs Connect, RevUp Women Initiative, Catalytic Africa Programme, AfriLabs Capacity Building Programme, and DeBPO Remote Work Initiative. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A platform connecting African innovators and stakeholders effectively.
Supports women-led businesses in Africa for sustainable growth.
Facilitates investment in startups through co-investment matching funds.
Equips tech hubs with skills to support startups.
Connects African professionals with international SMEs for remote work.
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Funding Insights of AfriLabs
AfriLabs has successfully raised a total of $31.97K across 3 strategic funding rounds. The most recent funding activity was a Grant round of $228.05 thousand completed in December 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Grant — $228,050
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First Round
First Round
(01 Nov 2022)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2023 | Amount | Grant - AfriLabs | Valuation |
investors |
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| Sep, 2023 | Amount | Private Equity Round - AfriLabs | Valuation | FMO |
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| Nov, 2022 | Amount | Grant - AfriLabs | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in AfriLabs
AfriLabs has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include FMO and European Union. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Development financing is provided for entrepreneurial ventures in emerging markets.
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Founded Year | Domain | Location | |
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by AfriLabs
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - AfriLabs
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Afrilabs Comparisons
Competitors of AfriLabs
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about AfriLabs
When was AfriLabs founded?
AfriLabs was founded in 2011 and raised its 1st funding round 11 years after it was founded.
Where is AfriLabs located?
AfriLabs is headquartered in Abuja, Nigeria. It is registered at Abuja, Federal Capital Territory, Nigeria.
Is AfriLabs a funded company?
AfriLabs is a funded company, having raised a total of $31.97K across 3 funding rounds to date. The company's 1st funding round was a Grant of $25.93K, raised on Nov 01, 2022.
What does AfriLabs do?
AfriLabs is established as a central network uniting over 500 innovation hubs across 53 African countries. The organization is focused on empowering entrepreneurs and startups by providing essential resources, skills, and funding opportunities through various programs and global partnerships. Collaboration and policy advocacy are promoted to enhance cross-border innovation and investor engagement. Sectors such as technology and digital transformation are prioritized, with solutions tailored to turn ideas into market-ready products. Initiatives like RevUp Women, Catalytic Africa, and DeBPO are designed to support women-led businesses, facilitate investments, and connect African professionals with global opportunities, respectively. The future of Africas innovation ecosystem is shaped through annual gatherings and strategic plans for sustainable economic growth.
What products or services does AfriLabs offer?
AfriLabs offers AfriLabs Connect, RevUp Women Initiative, Catalytic Africa Programme, AfriLabs Capacity Building Programme, and DeBPO Remote Work Initiative.
Who are AfriLabs's investors?
AfriLabs has 2 investors. Key investors include FMO, and European Union.