( Press Release ) DRC Impact Angels, an investment club operating in the Democratic Republic of Congo, is pleased to announce its new investment in ITOT Africa, a leading edtech start-up based in Lubumbashi and providing training and other digital educational tools to corporates, SMEs, NGOs and individual entrepreneurs in the Democratic Republic of Congo (“DRC”). This is also one of the very few tech ventures in DRC which is female co-founded.
ITOT Africa has a strategic partnership with Amazon, GIZ and Enabel; was a finalist at Yale Start-up Africa and is a founding member of Ukamili Digital City – the tech collective from Katanga aiming at turning the region into a leading international tech hub. ITOT Africa is also the sponsor of www.okademy.africa, the first on-demand edtech platform in Francophone Africa.
ITOT Africa is the 4th transaction of DRC Impact Angels in the country and the second one outside of Kinshasa.
This is a landmark transaction for the ecosystem as:
- This is the first edtech early stage transaction in DRC – demonstrating the maturity of the ecosystem.
- This is also the first female co-founded venture in DRC receiving institutional funding locally.
DALHAP Investments Ltd, an international impact investor, and the first historical institutional investor in ITOT Africa, will continue to support the venture in its growth and development in DRC but also in Africa and in the USA in particular.
Overview of the transaction
ITOT Africa is a pan-African tech venture operating out of Lubumbashi and offering training, digital educational tools and other IT consulting services to corporates, SMEs, NGOs and individual entrepreneurs mainly in the DRC.
Comments from ITOT Africa – “With this investment, ITOT Africa will strengthen its educational tools offering, expand its portfolio of clients in DRC and internationally, will strengthen its shareholders base and will further demonstrate the ability of Congolese start-ups to deliver world-class services”
Comments from DRC Impact Angels – “ITOT Africa’s mission in DR Congo is fully in line with the impact that DIA is seeking in the country e.g. supporting talented teams with both commercial acumen and technical skills and assist them in growing their business. Also – this is another testimony of DIA ability to transact nationwide in DRC and for the Congolese business community to work together. Evidently, this is also a fantastic opportunity to back a female co-founded tech venture. We are very pleased to welcome ITOT Africa in the DIA family”
Comments from DALHAP – “ITOT Africa is the sixth female co-founded investment we have done on the African continent, but the first one in the DRC Congo – and definitely not the last one! Since our investment a year ago, ITOT Africa has continued to impress us with the significant impact it has on the lives of Congolese citizens, especially on women. DRC is a focus country of DALHAP and we are pleased to have identified and supported the right team. We are particularly excited about this new partnership with DIA, which is a strong signal of the health and relevance of ITOT Africa in the economic and tech landscape of DRC, Africa and in the edtech space”
About ITOT Africa
ITOT Africa is a pan-African tech venture operating out of Lubumbashi and offering training, digital educational tools and other IT consulting services to corporates, SMEs, NGOs and individual entrepreneurs mainly in the DRC.
About DRC Impact Angels
DRC Impact Angels is an investment club specialised in funding & supporting tech start-ups and innovative SMEs at an early stage of their development in the Democratic Republic of Congo. DRC Impact Angels is an affiliated member of the African Business Angels Network (“ABAN”)
DIA invests between 20 000 and 100 000 dollars per transaction and / or also provide strategic, commercial, legal and technical assistance and advisory work to all its investee companies
About DALHAP Investments Ltd
DALHAP was established in 2018 and aims to promote social responsibility in all aspects of its investment process, specifically seeking investments that will ultimately benefit the underserved, and, in the process, Do As Little Harm As Possible (DALHAP).