Tech in Africa
Ada Animation, a Nairobi-based entertainment company has secured pre-seed funding from Unicorn Group which is the technology vehicle of Platform Capital – a Nigerian growth markets-focused sector agnostic, investment, and advisory firm. The aim is to come up with exciting animation opportunities that will grow the company.
The agreement is of significance in the East African region as it helps elevate entertainment companies while opening a new frontier in the VC investment realm. The funds are aimed at supporting the company’s growth and hiring great talent, developing proprietary technology, and creating African content. Dr. Akintoye Akindele, Platform Capital’s chairman will be joining the board of Ada Animation – as part of this investment.
In comments made on the investment, Joy Mwangi, Ada Animation’s CEO, describing the investment as an important growth step for the company. She went on to say that they are at the “ forefront of animation industry on the continent” while seeing a huge potential for its content “on millions of screens worldwide.”
Ada Animation was founded in 2020 with the intent to build capacity in the animations industry. Ada produces 2D & 3D animations content, whiteboard animation, motion graphics, Infographics, Content Creation, VFX, and other services. The company is headquartered in Nairobi and has regional subsidiaries in Johannesburg, Lagos, and London.
On its website, Platform Capital invests in the verticals of energy, healthcare, education, logistics & mobility, food value chain, TMTP, industrials, infrastructure, and financial services.
We are pleased to announce our pre seed capital raise from Nigerian venture capital firm @ThePlatformCap through its technology vehicle, @unicornmaking . This investment is a first of its kind in East Africa and is set to elevate entertainment companies in Africa. pic.twitter.com/lWm5sHQgAo
— AdaAnimation (@adaanimation) July 9, 2021
