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Mobility 54 invites startup applications for funding

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Mobility 54 invites from Nigerian and other African startups

By Jeph Ajobaju, Chief Copy Editor

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Mobility54 has invited innovative African mobility tech and services startups to apply for funding in its 2022 Digital Transformation Challenge.

The closing date for applications is 15 June.

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Applicants must be innovative and be able to demonstrate growth potential with  strong market traction.

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Mobility54 is a Corporate Venture Capital of Toyota Tsusho & CFAO group. It is looking for innovative solutions in its five investment areas:

  • Mobility fintech
  • Mobility carbon neutral

The company said applicants stand the chance to be the first in line to get access to its potential direct capital investments. They will also have the opportunity to be  introduced to other world-class investors.

Selected startups will be announced at a special event gathering investors, top managers, and international decision-makers, according to Mobility 54.

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It added that the event will be organised at the time of the Tokyo International Conference on African Development (TICAD#8).

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Eligibility criteria

Mobility 54 said applicants are to meet the following criteria:

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  • Be early to mid-stage start-up realising a significant part of activity in Africa
  • Operate in the mobility tech & services business sector
  • Businesses with a minimum of three months’ revenues
  • Be innovators and demonstrate a growth potential with strong market traction

About Mobility 54

Mobility 54 was established in October 2019 and completed its first fund investment period at the end of December 2021, per reporting by Nairametrics.

Mobility 54 in April 2022 invested $2 million in Nigerian startup, OnePort, a digital cross-border logistics platform.

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The company says it is investing “With Africa For Africa” and helping solve social and industrial challenges on the continent.

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