In the Hong Kong-based Betatron accelerator, Kenya ‘s digital addressing startup OkHi and Nigerian multi-merchant rewards platform ThankUCash were accepted to gain access to mentorship and funding.
Betatron, which was founded in 2016, is an investment company that operates an annual four-month accelerator program to help businesses extend their activities to Asia and gain funding.
For each chosen startup, the program offers up to US$ 500,000 support, as well as mentorship and encouragement to ensure a smooth expansion process.
Betatron has chosen nine startups to take part, including two from Africa, after receiving 2,500 applications for its new cohort, They are Kenya’s OkHi, which offers a digital addressing network that transforms the cell phone of a user into their physical address, and Nigeria’s ThankUCash, which has introduced a platform for rewards and loyalty that lets consumers access deals and companies better understand the trends of consumer buying.
The investment in OkHi is part of the $1.78 million US funding round revealed last week for the start-up.
We are proud of our journey so far and acceptance into the Betatron Cohort 6 Accelerator Program further demonstrates that we as an organization are on the right path. Our mission is obviously a common one, regardless of geography, to help companies succeed by connecting them with customers, and this has reflected the momentum we have gained from investors and partners who are eager to be part of our story and this continues to fuel our dedication to our goals, ”said Simeon Ononobi, ThankUCash’s chief executive officer (CEO).
France, India, the Philippines, Poland, and the United Arab Emirates ( UAE) are the other seven start-ups in the program.