Kigali based Charis UAS, a leading drone startup reports having raised a significant but undisclosed investment from XM2 PURSUIT, a global player in the moving camera business.
The new funding received is to be used to accelerate the expansion of the company’s drone manufacturing and solutions on the continent.
Eric Rutayisire Muziga, the founder and CEO of Charis UAS, in a news statement welcomed the news and stated they were thrilled to work with a cutting-edge company such as XM2 PURSUIT.
This investment, gives them the opportunity to rapidly expand across Africa and build upon their current drone-based technological solutions and manufacturing services.
Charis UAS was launched in 2014 as Rwanda’s first-ever licensed UAV venture and through its advanced data analytics, the startup company has very much supported a number of governments and private organizations in optimizing their business operations and by so doing created a powerful social impact within communities such as using drones to fight against malaria and advance local energy programs.
Charis UAS has continued to break new grounds by positioning itself as Africa’s first commercial drone manufacturer as it launch of its first ever made-in-Rwanda drone in February 2020.
Upon examining Charis UAS’s strong track record within Africa, the COO of XM2 PURSUIT, Aidan Kelly shared that,
“Whether its designing solutions, integrating workflows, utilizing automation or delivering data in meaningful ways, our investment into Charis UAS is part of our plan to partner with leaders in their field around the world, to unlock the true potential that aerial and remotely sensed data can provide.”
Africa is rapidly adopting new technologies and open to new innovations, according to Eric Rutayisire Muziga of Charis UAS and for him,
“Having the investment, support, and expertise of XM2 PURSUIT will help us execute our vision to support intelligent decision making and scale up the manufacturing of drones on the African continent.”
Outside Rwanda, Charis UAS also operates in Côte d’Ivoire, Gabon, Tanzania and Uganda.
Curacel: Insurtech Startup Secures $450K Pre-seed Funding Led by Atlantica Ventures & Consonance
The insurtech startup, Curacel, an AI-powered platform for claims processing and fraud management in Africa, reports that it has raised $450,000 pre-seed funding in a round that was led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors.
The insurtech startup already works with some of the biggest insurers on the continent, including AXA Mansard, Liberty Health and Old Mutual, as well as more than 800 hospitals in Nigeria, Ghana, and Uganda. It plans to expand into 10 new African countries by the end of 2021.
Every year, African insurers lose more than $12 billion to fraudulent, wasteful, and abusive claims. Curacel’s flagship CLAIMS platform acts as a bridge between primary care hospitals and Africa’s insurance companies, using advanced artificial intelligence to ensure that insurance companies only pay claims for the correct treatment, appropriate medications and recommended patient therapies.
Curacel is also scheduled to launch Curacel Capital, a cash advance product that makes it easier for healthcare providers to access working capital to mitigate financial challenges. Delayed payments and other inefficiencies in the payment process means many African healthcare providers often have to make the difficult choice between keeping the books balanced or providing healthcare at a loss. With Curacel Capital, healthcare providers can access lump sums of up to three times their average monthly billings, based on claims processed on the Curacel portal, ensuring that they can continue to deliver essential services without undue disruption.
With insurance penetration at just 2.8% across the continent, many Africans are one accident or health emergency away from poverty. And in Africa’s communal societies, tragedy impacts entire communities, with people emptying their savings to pay for medical expenses, burials or other disaster relief for family members and kin. By leveraging Curacel’s products and services, insurers across the continent are better equipped to close the insurance gap and safeguard prosperity.
According to Curacel Co-founder and CEO, Henry Mascot, in a press statement said,
“We are excited to have these investors on board and we are looking forward to partnering with them to drive our vision of improving insurance inclusion across Africa.”
At Curacel he shares, they are uniquely positioned to safeguard livelihoods and increase the quality of life through their unique, market-leading products and services.
IK Kanu, Partner at Atlantica Ventures noted that,
“The African insurance market represents a significant growth opportunity and we are delighted to be partnering with Curacel to drive growth in this sector. There is an opportunity to create an entirely new market of products and services here and we look forward to supporting the team to improve health outcomes across the continent.”
Finally, Mobolaji Adeoye, the Managing Partner at Consonance adds that they believe the Curacel team has what it takes to be market leaders and are therefore excited to support them. Also stressing that they have a great product and equally delighted to be coming onboard at this early stage of their growth.
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