MARL Selects Three Nigerian Startups for $150,000 Global Accelerator Funding

Three Nigerian startups  Solarcorp, Bravoo and Zendtrax  have been selected for the 14th cohort of the MARL global accelerator, with each company set to receive $50,000 in funding.

Announced on October 21, the selection brings a climate-tech company, a consumer rewards platform and a supply-chain software provider into the programme run by US-based investment firm MARL. The three startups will also receive support in product development, business strategy and fundraising.

The combined investment amounts to $150,000, giving each startup capital to develop its business as it prepares to present its solution to investors.

Solarcorp targets diesel dependence

Solarcorp develops shared solar-and-battery storage systems for commercial properties, including shopping malls and business clusters. Its model aims to reduce reliance on diesel generators by allowing multiple users to access a common energy system.

Diesel generators remain a major source of backup power for businesses operating in Nigeria, where unreliable electricity supply can raise operating costs. Solarcorp’s approach focuses on providing commercial users with an alternative through shared renewable energy infrastructure.

The company’s participation in the accelerator could help it refine its commercial model and prepare for further fundraising as it develops its offering.

Bravoo builds a rewards-based consumer platform

Bravoo is developing a consumer platform built around rewards and gamified experiences. The model uses incentives and interactive features to encourage users to engage with the platform.

Its selection places a consumer-focused technology business alongside startups working on energy and enterprise operations. MARL’s business development and product support will be available to help the company develop its offering and prepare to engage investors.

Zendtrax develops supply-chain software

Zendtrax provides enterprise software for procurement, inventory and supply-chain management. These functions help businesses track stock, manage purchasing and coordinate the movement of goods.

For companies handling complex supply chains, software that brings procurement and inventory processes together can improve visibility over operations. Zendtrax is targeting this business need through its enterprise technology platform.

Its selection gives the company access to MARL’s support in product development, business strategy and fundraising.

MARL prepares startups for investors

MARL is an early-stage investment firm that works with startups on product development, business strategy and fundraising. Its accelerator combines investment with practical business support and access to mentors and potential investors.

The firm’s selection of the three Nigerian companies adds businesses from the country to its 14th cohort. MARL managing partner Prakash Goswami said the selection demonstrates the quality of innovation coming from African founders and that strong technology companies can emerge from any market.

The three startups are scheduled to pitch their solutions to investors on November 12, when they will present their businesses and products to potential backers.