Amini's $4 million raise | Elon Musk Swears at companies that pulled ads from X

TODAY’S MENU

• Kenyan climate tech startup Amini raises $4 million in a seed fund round

• South African Jonathan Oppenheimer acquires full control of Nigeria’s leading can manufacturer

• Elon Musk swears at companies that pulled ads from X

• Microsoft secures non-voting board seat at OpenAI

• Amazon launches new text-to-image AI model called Titan

INVESTMENTS

Kenyan climate tech startup Amini raises $4 million in a seed fund round

Amini, a Kenyan Climate tech startup announced that it has raised $4 million in a seed round led by Salesforce Ventures and the Female Founders Fund. Other participants in the round include new investor, climate-tech VC Satgana and previous investors – Pale Blue Dot and Superorganism who participated in a $2 million pre-seed round early in the year.....…….read more

ACQUISITIONS

South African Jonathan Oppenheimer acquires full control of Nigeria’s leading can manufacturer

In a strategic move, South African billionaire businessman and conservationist Jonathan Oppenheimer has successfully acquired full ownership of GZ Industries (GZI), a prominent beverage can manufacturer in Nigeria, from Affirma Capital. Affirma Capital, the private equity firm, previously held a 37.5% stake in the can supplier. This acquisition not only consolidates Oppenheimer’s control over GZI but also strengthens the Oppenheimer family’s influence in Africa’s economic landscape.

GZ Industries stands as a leading producer of premium-quality aluminum beverage cans, annually manufacturing 3 billion cans in Africa, with a focus on Nigeria and South Africa. Affirma Capital, formerly known as Standard Chartered Private Equity, confirmed the completion of the deal in a statement, marking the end of its association with GZI….read more

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SOCIAL MEDIA

Elon Musk swears at companies that pulled ads from X

With Elon Musk at the helm, X, which is already financially unstable, may be on the brink of losing an additional $75 million in advertising revenue. This comes after Musk’s promotion of an antisemitic conspiracy theory, leading him to communicate a new stance to advertisers who are reconsidering their association with the platform.: “Go f__k yourself.”.

Musk repeated the sentiment multiple times during an appearance at The New York Times‘ DealBook event. “Don’t advertise,” Elon Musk said. “If somebody is going to try and blackmail me with advertising, blackmail me with money? Go f__k yourself. Is that clear? I hope it is.”...…….read more

Meta may finally launch Threads throughout Europe in December

To introduce Threads in member countries, Meta has chosen to comply with the online services regulations set by the European Union. As reported by The Wall Street Journal, Meta aims to launch Threads throughout Europe in December. Adhering to EU policies, it will give users the option to access the platform without the necessity of creating a profile. An expansion into the EU will undoubtedly grow Thread’s global engagement, but time will tell how fast and to what extent….read more

ARTIFICAL INTELLIGENCE

Microsoft secures non-voting board seat at OpenAI

Microsoft, the largest investor in OpenAI is deepening its ties with the AI startup. The tech giant has secured a non-voting board seat on OpenAI's board as Sam Altman officially returns as the startup's CEO.

The connection between OpenAI and Microsoft strengthened after the latter invested $13 billion in OpenAI and integrated its AI models into Microsoft’s Office and other programs. Despite this collaboration, Microsoft previously lacked official representation on OpenAI’s board, leading to surprises during the CEO’s initial dismissal.….read more

Amazon launches new text-to-image AI model called Titan

Amazon has introduced a novel AI model named Titan, designed for text-to-image generation. Unlike standalone applications such as ChatGPT and Midjourney, Titan is not available as an independent app. Instead, businesses and enterprises can seamlessly integrate Titan into their applications and websites to generate realistic, high-quality images.

Amazon emphasizes Titan's focus on catering to corporate needs rather than individual consumers. Additionally, Titan incorporates a feature that applies invisible watermarks to images, serving as a tool for identifying visuals generated by AI technology. This strategic move positions Titan as a valuable asset for companies seeking advanced image generation capabilities within their digital platforms……read more

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OTHER STORIES

President Ruto Sets April 2024 for Startup Bill Approval

President William Ruto has announced the imminent signing of the Kenyan Startup Bill into law, scheduled for April 2024, marking the culmination of a comprehensive two-year legislative process.

Disclosed during the Kenya Innovation Week, President Ruto highlighted the significance of the Startup Bill in de-risking innovations and fostering a conducive environment for startups to evolve into sustainable businesses.….read more