ITOT Africa, a Lubumbashi-based education technology startup, has recently raised an undisclosed amount in a new funding round from DRC Impact Angels, an investment club in the Democratic Republic of Congo.
ITOT Africa is a key player in the DRC’s technological ecosystem, being also a founding member of Ukamili Digital City — the Katanga technological collective aiming to make the Lush region — a leading international specialized centre. The firm is the fourth DRC Impact Angels investment club transaction in the DRC and the second outside the capital Kinshasa. It is also the first company co-founded by a woman in the DRC to receive local institutional funding.
Founded in 2018, ITOT Africa provides training and other digital educational tools to businesses, SMEs, NGOs and individual entrepreneurs in the Democratic Republic of Congo (“DRC”) and internationally, opening a branch in the United States. It also owns www.okademy.africa, the first on-demand training platform in French-speaking sub-Saharan Africa. The company claims to have collaborated with several leading international entities, including Amazon, GIZ and Enabel. It was also a finalist in the technology startup competition organized by the American University Yale.
Commenting on the fundraising, ITOT Africa said:
With this investment, ITOT Africa will strengthen its educational tools offering, expand its client portfolio in the DRC and internationally, strengthen its institutional shareholder base and once again demonstrate the ability of Congolese startups to provide world-class services.
Adding further about the investment, DRC Impact Angels said in a statement:
ITOT Africa’s mission in DR Congo is a perfect fit with the impact that DRC Impact Angels (DIA) seeks in the country, for example, by supporting charismatic and talented teams with both world-class technical skills, strong business acumen and understanding of the DRC operational ecosystem. Furthermore, it is another testament to DIA’s ability to transact nationwide in the DRC and the Congolese business community to work together. Of course, it’s also a fantastic opportunity to support a tech company co-founded by a woman. We are delighted to welcome ITOT Africa to the DIA family.
DRC Impact Angels is an investment club specializing in financing and supporting technology startups and innovative SMEs in the Democratic Republic of Congo. DRC Impact Angels is an affiliate member of the African Business Angels Network (“ABAN”) and have previously invested in the agribusiness, financial services and industrial production sectors in the DRC.
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