Tag Archives: Silicon Valley
Silicon Valley: Latest News
Staff, 7:49 am
Silicon Valley is ignoring Africa’s startup scene, passing up an opportunity to invest in creating innovative technology-based businesses on the continent, according to TechCrunch Inc. “Silicon Valley does not understand the context of Africa, so we see it as an opportunity to fill the gap,” Edward Desmond of Verizon Communications said in an interview Wednesday in the Kenyan capital, Nairobi. “The outside world that is very powerful does not know the innovation and possibilities available.”
Peter Pedroncelli, 5:02 am
Global investment fund Endeavor Catalyst has backed South African authentication and app security company Entersekt through a funding round that was realized in September. The Silicon Valley-based investment firm led a funding round for Entersekt amounting to around $5 million, with the investment being Endeavor Catalyst’s first ever in South Africa, where they have had an office since 2004.
Staff, 7:35 am
Feastfox, an eating out App from Cape Town, revealed that it successfully closed its Angel fundraising round, raising $175,000 primarily from Silicon Valley-based Angels and VC firms. Feastfox focuses on spontaneous eating out with its “book now, eat now” concept. Co-founder Stuart Murless explains “by raising Angel funding from California venture capital firms and Angel investors, we proved that it is possible to get early-stage, Silicon Valley financing for a mobile startup in South Africa.”
Staff, 9:45 am
Since repatriating to Ghana, Silicon Valley tech entrepreneur, Paul Owusu partnered with tech entrepreneur Kojo Sarpong to form LOGIQUE, tech accelerator and parent company to tech products Stack, SmartLobby and Coast. The products provide a wide array of services ranging from loyalty and payments to SaaS (Software as a service) for data collection. The company will function as a tech accelerator and consultancy. Services will target start-ups and modernize technology systems for institutions.
Staff, 1:53 pm
Google Chief Executive Officer Sundar Pichai visited Lagos, Nigeria’s commercial capital. During his visit, Pichai announced at a conference, plans by the Internet giant to provide more than $3 million in equity-free funding and mentorship to more than 60 African start-ups over the next three years. Earlier in July, Jack Ma, the CEO and founder of e-commerce company Ali Baba toured east Africa (Kenya and Rwanda) in what his close aides described as a mission to inspire African IT entrepreneurs.
Tom Jackson, 1:15 am AFKI Original
Some of the most prominent Silicon Valley individuals and companies are caught up in sexual harassment scandals, but their story is somewhat echoed in other parts of the world, with individuals within Kenya’s tech ecosystem also experiencing sexism and unwanted sexual advances. The poor response has raised questions about the African tech community in general’s attitude towards women in the workplace.
Staff, 11:54 am
Bridge International Academies, operates 405 schools in Kenya, educating children from preschool through eighth grade, for a fee of between $54 and $126 per year, depending on the location of the school. It was founded in 2007. From early on, the founders’ plans for the world’s poor were audacious. Bridge promised to revolutionize primary-school education. The Bridge concept has galvanized many of the Western investors and Silicon Valley moguls who learn about the project.
Staff, 9:32 am
SweepSouth is a South African start-up which allows customers to book a home cleaner online at R38 (US$2.8) per hour. The company was launched in Cape Town in June 2014 by husband-and-wife team, Aisha Pandor and Alen Ribic, and has since expanded to Johannesburg, Pretoria and Durban.
Staff, 8:11 am
Allard Luchsinger is the director for private equity at the Dutch-based venture fund, Velocity Capital Private Equity. The company specializes in fintech early-stage investments. Luchsinger shared what motivated his organization to invest in two African start-ups over the last year.
Dana Sanchez, 11:27 am
Five winning African tech startups are in Silicon Valley competing with others from around the world and hopefully attracting venture capital. A lot of them are self-taught and lack formal training in venture creation and digital entrepreneurship, an event manager said. “They have built companies on binary codes and learned new skills through the mobile internet. If a Silicon Valley technology event is live streamed across the world, there are African entrepreneurs huddled somewhere, watching it and consuming every panel, consuming every fireside chat, taking notes, and then applying those notes to their local context.”
- Real Estate