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Uber's potential $100m investment in Moove 🚙

Uber's potential $100m investment in Moove 🚙

Innovation Village
February 26, 2024

In today’s menu 🥘

🚙 Uber negotiates to support Nigerian startup Moove with potential $100 million investment
💰 Swedfund invests $5 million in Bridge Bank Microfinance to enhance financial inclusion in Côte D’Ivoire
🤖 Jeff Bezos, Nvidia are among the investors that have invested $675 Million in Figure AI Inc., a startup dedicated to the development of human-like robots
📱Samsung set to roll out Galaxy AI to additional devices soon

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💰 INVESTMENTS

Uber negotiates to support Nigerian startup Moove with potential $100 million investment

Uber Technologies Inc., the US ride-hailing giant, is currently in negotiations to invest in African auto-financing startup Moove, according to sources privy to the matter. The proposed investment could be part of a funding round worth up to $100 million. However, the final amount raised could change, landing potentially anywhere between approximately $75 million and $100 million.

Joining other investors in this capital raise, Uber’s backing would increase Moove’s overall value to around $750 million, a significant jump from its current $650 million value.

This news comes at a time when Africa, known for its rapid population growth, is increasing its uptake of technology in sectors spanning banking, ride-hailing, and entertainment. As traditional infrastructure and institutions are often lacking, tech platforms like Moove are filling the gap....…..continue reading

Swedfund invests $5 million in Bridge Bank Microfinance to enhance financial inclusion in Côte D’Ivoire. Sweden’s Swedfund, a development finance institution (DFI), and African-based credit fund BluePeak Private Capital Fund have invested in West Africa-based Teyliom Finance. Swedfund contributed $5m out of the combined investment of $25m, which aims to strengthen financial assistance for micro, small and medium scale enterprises (MSMEs), particularly those owned by women in Côte D’Ivoire. Swedfund anticipates that the loan will enhance financial access for women, boost the growth of MSMEs, and subsequently generate income and employment opportunities in West Africa…..continue reading

Diaspora Kapita plans to invest US$600,000 in Zimbabwean fintech startup Jamboo. Diaspora Kapita, a prominent investment company, announced its intent to invest $600,000 in Jamboo during its capital raising process in the early months of 2024. This strategic investment will position Diaspora Kapita at the forefront of establishing a pioneering wealth and investment platform focused on Africa…..continue reading

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🤖 ARTIFICIAL INTELLIGENCE

Here are the Tech Tycoons Investing $675 Million in Figure AI, a Humanoid Robot Startup

A notable cohort of tech magnates, including billionaire Jeff Bezos and Nvidia, has plunged into the realm of human-like robots, signaling a fresh exploration of artificial intelligence (AI) applications. According to Bloomberg News, Jeff Bezos, founder of Amazon.com, and Nvidia are among the investors backing Figure AI Inc., a startup dedicated to the development of human-like robots.

Figure AI Inc. has successfully secured a substantial $675 million in funding, attributing to its pre-money valuation of approximately $2 billion. This strategic investment is endorsed by heavyweight backers such as OpenAI, Microsoft Corp., and Bezos’ Explore Investments LLC, as reported by Bloomberg.

Jeff Bezos is spearheading the funding initiative with a committed investment of $100 million, closely followed by Microsoft contributing $95 million. Additionally, both Nvidia and an Amazon.com Inc.-affiliated fund are injecting $50 million each into the venture. This financial commitment reflects a collective belief in the potential of Figure AI to revolutionise the AI and robotics landscape.……continue reading

Tyler Perry Puts $800M Studio Expansion on Hold After Seeing OpenAI’s Sora: “Jobs Are Going to Be Lost”. Over the past four years, Tyler Perry had been planning an $800 million expansion of his studio in Atlanta, which would have added 12 soundstages to the 330-acre property. Now, however, those ambitions are on hold — thanks to the rapid developments he’s seeing in the realm of artificial intelligence, including OpenAI’s text-to-video model Sora, which debuted Feb. 15 and stunned observers with its cinematic video outputs……continue reading

Samsung set to roll out Galaxy AI to additional devices soon. Samsung recently confirmed that it is extending the reach of its Galaxy AI, an advanced artificial intelligence model, to a wider array of devices – and it’s happening sooner than you might think. During an announcement made on Thursday, Samsung revealed that its Galaxy S23 series, S23 FE, Z Fold5, Z Flip5, and Tab S9 series would all be receiving this innovative AI upgrade by the end of March…..continue reading

Uber's potential $100m investment in Moove 🚙

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