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Savannah Fund , a pan-African venture capital firm, today announced a $25 million fund as it looks to back more early-stage startups on the continent. Since launching in 2012, Savannah Fund — led by Mbwana Alliy and Paul Bragiel — has backed more than 30 startups. Mbwana Ally (Managing Partner, Savannah Fund).
Qotto , a solar kits provider with operations in Burkina Faso and Benin, has raised $8 million in a Series A equity-debt round led by the IBL group, a billion-dollar conglomerate headquartered in Mauritius with business interests in a number of sectors including energy, financial services, logistics, distribution, and engineering.
His experience from this activity, coupled with working as a technical adviser to the vice president’s office in Nigeria a couple of months back, led him to launch Norebase , a trade tech startup that has raised $1 million in a pre-seed round. It’s one of the few companies offering such services, including Firstbase.
Microtraction , an early-stage venture capital firm based in Lagos, Nigeria, saw funding nearly quadruple for its portfolio. In a review of the year published last week, the firm noted that 21 companies in its portfolio have raised more than $33 million in funding. But it’s completely different in Africa.
To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the continent in 2019, according to Africa-focused fund Partech Africa. Investments did pick up, and from July, VC funding on the continent had a bullish run until December. billion and $1.8
Mauritius and U.K.-based based investment company Juven went live today with plans to fund growth-stage technology and consumer companies in Africa. Down the line, Goldman Sachs dipped its hand into growth-stage investing in tech companies, backing Africa’s first unicorn Jumia, Zipline, and Eat’N’Go.
Private equity fund AfricInvest FIVE co-led the Series C round with existing investors Goodwell Investments and LUN Partners Group. New investors CommerzVentures, Allan Gray Ventures, Endeavor Catalyst and Endeavor Harvest also joined the round , while ShoreCap III returned as an existing investor with other funds.
million in grants in a round led by Silicon Valley fund At One Ventures, backed by Factor[e] Ventures and pan-African VC firm Ambo Ventures. We are proud to be backed by globally recognized investors providing a balance between deep-tech and emerging market expertise. million in pre series A round.
A source tells us Founders Fund is also investing. Such decisions must not be delegated to unelected tech leaders. ChatGPT is a general-purpose chatbot that uses artificial intelligence to generate text after a user enters a prompt, developed by tech startup OpenAI. Should we risk loss of control of our civilization?
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