EchoVC's $2.5m Pilot Fund | LemFi suspends Ghana services

TODAY’S MENU

• EchoVC launches $2.5 million Echo Pilot Fund I

• Twiga Foods secures undisclosed funding from Investors including Creadev and Juven

• Amazon launches Q, an AI chatbot for businesses

• Fuse Network announces $10 Million Web3 Business Grant Program

• LemFi suspends all services to Ghana

• London’s famed black cabs will be listed on Uber’s app

INVESTMENTS

EchoVC launches $2.5million Echo Pilot Fund I for climate, energy, agriculture and mobility investments

EchoVC, a black-led technology-focused seed and early-stage venture capital firm investing in underrepresented founders and underserved markets, announced that it has closed and launched a $2.5 million pre-seed fund vehicle – EchoVC Eco Pilot Fund I.

The fund, in partnership with Shell Foundation with co-funding through UK Aid from the UK Government, represents the VC’s commitment to identifying and investing in the most promising pre-seed startups shaping the future of climate, energy, agriculture and mobility.

EchoVC says it will, through the fund, aim to foster very-early-stage enterprise development and innovation with solutions that enable an income uplift for all the participants along the journey...…….read more

Twiga Foods secures undisclosed funding from Investors including Creadev and Juven

Kenyan agri-tech startup, Twiga Foods, has successfully raised an undisclosed amount of funding from a consortium of investors, featuring notable names like Creadev and Juven. The capital injection coincides with a significant restructuring phase for the company, resulting in the departure of nearly 40% of its workforce.

While the exact financial details remain undisclosed, CEO and Co-Founder Peter Njonjo emphasized that this funding round represents the culmination of a strategic transformation within Twiga. The company’s revised approach and strategy have not only bolstered cost efficiency but also led to improved service delivery for its customers……read more

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PRODUCTS

Amazon launches Q, an AI chatbot for businesses

Amazon has recently unveiled its latest innovation in the realm of workplace technology – a powerful chatbot named Q. Unveiled at the Amazon Web Services’ Reinvent conference, Q represents Amazon’s strategic move to compete with industry giants Microsoft and Google in the highly competitive productivity software market. This development comes on the heels of Microsoft-backed OpenAI’s successful launch of ChatGPT, showcasing the growing influence of generative artificial intelligence in crafting human-like text...…….read more

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BUSINESS OPPORTUNITIES

Fuse Network announces $10 Million Web3 Business Grant Program

Fuse Network, a leading Web3 payment infrastructure provider, has introduced its groundbreaking Web3 Business Grant Program, allocating $10 million to support global businesses. The initiative aims to offer essential funding and infrastructure, streamlining access to Web3 payment systems and empowering businesses on a global scale.

Businesses worldwide are encouraged to apply for the Web3 Business Grant Program by reviewing the outlined criteria on the Fuse Web3 Business Grant website and submitting their applications. Successful applicants can anticipate a final decision within two weeks after submission….read more

Endeavor Kenya’s ScaleUp Program – Nurturing High-Growth Ventures in East Africa

Endeavor Kenya, a non-profit organisation dedicated to supporting high-impact entrepreneurs, has unveiled its groundbreaking ScaleUp Program. Representing a major milestone in their mission, this inaugural cohort-based initiative aims to propel ten high-growth ventures in East Africa to new heights by providing essential resources and an extensive support network……read more

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OTHER STORIES

LemFi suspends all services to Ghana

LemFi, an international money transfer service, announced that it has suspended its services to Ghana. This is in reaction to the recent suspension of several international money transfer companies from sending remittances into the country by the country’s Central Bank.

The Bank of Ghana asserted that LemFi and other companies were operating without the necessary license or authorization to function as electronic money issuers or payment service providers in Ghana.…….read more

London’s famed black cabs will be listed on Uber’s app in big win for the ridehail company

Uber notched another win in its effort to win over the beleaguered taxi industry, announcing a plan to start listing London’s famed black cabbies in its app.

The service won’t roll out until early 2024, but some London cabbies have already begun to sign up. Uber says all 15,000 of London’s cab drivers “will now have the opportunity” to sign up for Uber trip referrals. The company recently brokered deals with taxi fleet owners in New York City, Paris, Rome, and Los Angeles to list drivers in its app…..read more