Pixii Motors, a Tunisian Startup, Receives $800,000 Investment from Madica to Revolutionize Electric Mobility
Pixii Motors, a pioneering Tunisian startup in the electric mobility sector, is one of four African startups to benefit from a $800,000 investment from Madica, an Africa-focused investment company.
Founded on the desire to revolutionize urban mobility, Pixii Motors offers environmentally friendly electric vehicles tailored to the specific needs of city dwellers seeking a sustainable alternative to traditional transportation methods. The Tunisian company, which emphasizes reducing carbon footprint, is committed to providing innovative and accessible mobility solutions.
The other African startups that have benefited from this funding are: Medikea (Tanzania), Motherbeing (Egypt), and ToumAI (Morocco). The investment is equally distributed, with each startup receiving $200,000. Additionally, each startup will also benefit from personalized support and immersion trips to local and global technological ecosystems.
Madica's initiative, launched in December 2022 by venture capitalist Flourish Ventures, is part of a growing trend of investment in Africa, where emerging startups are attracting increasing attention. Madica, which has invested $1.6 million in eight startups so far, plans to allocate $6 million to 30 other companies by 2025. Its goal is to support businesses with viable products, full-time founding teams, and strong market traction.
What sets Madica apart is its commitment to gender diversity within its startups. Emmanuel Adegboye, Madica's representative, notes in a statement that the company has already exceeded its goal of 50% gender diversity in leadership teams, an inclusive model reflected in the significant number of female CEOs in its portfolio.
