UN to Debut $1B for African Tech Startups
The United Nations Development Programme (UNDP) will launch an initiative to mobilize and invest in new startups in Africa
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African Tech Update: 15 August 2022
Pastel, a Nigerian startup has closed a seed raise of $5.5 million led by pan-African venture capital firm TLcom Capital.
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Google's Equiano submarine internet cable has landed on the South African shores.
Equiano is the latest subsea internet cable financed by Google. Starting in Portugal and eventually ending in South Africa, with branches to Nigeria, Togo, the islands of St Helena, and Namibia, the 15,000-kilometer (9,320-mile) cable is designed to deliver high-speed broadband along the west coast of Africa. Its capacity, a whopping 144 terabits per second, is 20 times that of the previous cable serving the region and could increase internet speeds more than fivefold in some countries.
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The African startups in Y Combinator Summer 2022 batch
So far, six African companies have been accepted into Y Combinator Summer 2022 batch. Per Y Combinator, the selected startups will each receive a total investment of $500,000 as part of the new standard deal the company announced in January 2022.
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