August 2023 Newsletter:

Industry Outlook For Q4 + Demo Day Plans to Feature Charles Hoskinson + Investment Updates…

Adaverse Accelerator
4 min readSep 18, 2023

Hello there!

It’s time for some catch-up.

July and August have flown by with a whirlwind of exciting tech events and global developments. 🚀

From Twitter’s rebranding to X, Mark Zuckerberg’s unveiling of Threads, Bitcoin’s impressive ascent to new ATHs, to Paypal’s steady progress in the stablecoin realm — these are just a few of the significant shifts that have kept the tech world buzzing.

Here at Adaverse, we’ve been hard at work in our accelerator program as Cohort1 gears up for #DemoDay. But before we unveil their progress, let’s dive into some key highlights from the tech landscape.

African Startup Funding Overview — July 2023 📈

In July, African startups collectively raised a notable $123.4 million. Regionally, East Africa paved the way, representing 37.5% of the total, which translates to $46.2 million. This substantial amount came predominantly from nations such as Rwanda, Kenya, and Somalia.

MENA Startup funding — Aug 2023

The consistent funding trends observed in the MENA region and Africa underscore the growing interest in Web3 technologies. In the MENA domain, Web3-oriented startups bagged 15% of the entire funding in August, underscoring the intensifying focus and commitment of investors in this realm. Similarly, Africa’s thriving startup sphere indicates potential avenues for more pronounced Web3 evolution.

Web3 Landscape Outlook for Q4 2023

Venturing into Q4 2023, informed optimism should guide investors and innovators. The present trajectory suggests that Web3 innovations are transitioning beyond their foundational stages, illuminating prospects for scalable applications and widespread assimilation.

Gearing Up for Adaverse Demo Day in Two Weeks!

Adaverse’s Demo Day 2023, an online-exclusive event, will spotlight our Program Cohort1 startups presenting to a select audience of over 100 investors and industry leaders including Charles Hoskinson, Founder of Cardano and Co-Founder of Ethereum, who is set to deliver a keynote speech.

🗓Date: Friday September 29th
🕐 Time: 6:00 PM to 7:30 PM GMT+1
🌐 Venue: Zoom
Get ready for a day filled with innovation and collaboration!

Investment News

At Adaverse, our portfolio is expanding rapidly, having accelerated over 45 companies. We are continually encouraged by the influx of fresh applications every week.

We’re thrilled to announce our investment in Melanin Kapital, a Kenyan startup at the forefront of green financing and cleantech solutions. Their core mission is to offer green loans and carbon credits to SMEs, charting the way for a sustainable African future.

We’ve participated in the fundraising for Nestcoin, a dynamic Web3 startup aims to broaden financial access in emerging markets, especially with their innovative product, Onboard Wallet.

Portfolio Wins

  • Hats off to Mélanie Keïta, CEO of Melanin Kapital, honored as the Best Woman in Green Economy at AfricArena, a premier event celebrating African innovation!
  • Mazzuma reaches new heights! Recognized by NVIDIA, Mazzuma GPT secures its place among the top 5 startups in generative AI in Africa and the Middle East.

July Investor Roundtable was a blast

We discussed the question “Is Africa an Investable Destination” with leading technology investors from Google, CMT Digital, Jedar Capital, Briter Bridges, Adaverse, and Everest Ventures Group.

Catch the full recording on Youtube

Adaverse X NODO Startup Workshop

Adaverse partnered with NODO, the Pan-African Web3 Discovery & News service powered by EMURGO Africa, for a Masterclass on Startup Idea Validation, the inaugural edition of our Web3 educational series.

Watch out for more upcoming series.

Decentralised Intelligence Summit 2023

Adaverse was proudly represented at the #DecentralizedIntelligence Summit 2023 by our Investment Analyst, Johnpaul Nwobodo. The event organised by BNUG focused on Web3 fundraising, founder challenges, and success stories, aligning with our mission to empower startups in Africa.

Upcoming Event

We will be at the ETH Safari 2023

This September, ETHSafari 2023, Africa’s premier Web3 conference and festival promises to light up Africa and we are proud to sponsor the event. Join us in Nairobi and Kilifi, Kenya, from September 18th to 24th to celebrate Web3 innovation and Africa’s progress.

Don’t Forget! Adaverse Demo Day Is Near

­­Check here for upcoming events

About Adaverse Accelerator program

Our program empowers entrepreneurs with the resources and capital to shape the decentralised future of emerging market economies. In partnership with EMURGO and Everest Ventures Group, Adaverse brings together key industry stakeholders to provide startups with the support they need to scale and revoluntionize industries.

­Click Here to apply for funding and join our portfolio

Adaverse Official Links


LinkedIn: Adaverse

Twitter: Adaverse_Acc

Facebook: Adaverse Accelerator

Instagram: Adaverse_acc

YouTube: Adaverseaccelerator

Startup School: Adaverse Startup School

BuildUp Africa Podcast: BuildUp Africa

For media inquiries please email



Adaverse Accelerator

Adaverse is a Venture fund and Cardano accelerator fostering blockchain innovation in Asia, Middle East, and Africa.