Downtown Africa
Ada Animation, a subsidiary of Ada Labs, has raised pre-seed capital from Nigerian venture capital firm Platform Capital. Ada Animation is an innovative African entertainment technology company with a mission to develop top-tier animators across Africa by empowering creatives with the necessary skills, tools, mentorship and platforms to create and share African stories with Africa and the world. Headquartered in Nairobi, Kenya, with offices in UK, Nigeria, and South Africa, the company produces content in 2D & 3D Animation, Motion Graphics, White board animation, VFX, Content Creation, Character Design, Voice Overs, Infographics, Animation’s training, and upskilling.
This investment was made through Platform Capital’s technology vehicle, Unicorn Group, and is a first of its kind in East Africa and is set to elevate entertainment companies in Africa as potential partners in the VC investments realm. The company will use the funds to support its growth ambitions to hire great talent, create African content, and further develop its proprietary technology.
Joy Mwangi, Ada Animation’s CEO, stated that her company is “incredibly proud of our partnership with Unicorn Group, a Platform Capital company.” She remarked that the investment is an important step in Ada Animation’s growth and that the company will ramp up efforts to attract top talent in animation production. She observed that Ada Animation is a leader in Africa’s animation industry, “changing the way we represent our content to produce more than we consume and share our stories from our perspectives.” According to Mwangi, there is huge potential for the company’s on millions of screens worldwide. Because of Ada Animation, the “world will watch movies made from our imagination and will visualize color and creativity born from our culture.”
Chairman of the Unicorn Group, Dr. Akintoye Akindele, stated that this is “an opportunity to build a dynamic animation industry for the youth.” According to him, now is time to “fabricated and developed a platform that encourages and supports young creatives on the continent to be at the epicenter of telling African stories.” He continued that his company is “optimistic about the development of creative talent and growth of homegrown platforms that will spur international companies’ partnerships in boosting the animation industry.”
Unicorn Group bills itself as a pan-African, investment company targeting innovative ideas, start-ups and early-stage companies in the technology and technology-enabled sectors across Africa. The company provides education, training, mentorship, infrastructure, and long-term capital to entrepreneurs, start-ups and early stage in the technology and technology-enabled sector through its ecosystem strategy.
Platform Capital, a subsidiary of Unicorn Group, is a growth markets focused, sector agnostic, principal investment and advisory firm. The company says that it deploys patient, value accretive capital alongside international and local value investors to create champion businesses with the potential for regional or global scale. The company also says that it provides end-to-end bespoke advisory services and is obsessed with changing the African narrative.
This article was adapted from a press release distributed by APO Group. You can start earning money by becoming our Independent Reporter or Contributor. Contact us at IR@downtownafrica.com
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