Tech

Rwanda-based angel investor, Norrsken22 closes first African tech-growth fund at $205m

Published

6 months ago

November 6, 2023

Kigali, Rwanda-based angel investor, Norrsken22 has announced closing its first African technology growth fund at $205 million, surpassing its initial target of $200 million.

In a statement by founder and CEO, Niklas Adalberth, Norrsken22 is focused on African tech entrepreneurs developing fintech, ed-tech, e-health, and market-enabling solutions that will deliver strong returns and have a positive impact across the continent.

Founded in 2016 by Adalberth, who also co-founded the Swedish fintech unicorn, Klarna, Norrsken22’s aim is to help entrepreneurs solve the world’s greatest challenges, with its ecosystem consisting of Norrsken House, a co-working space for over 350 impact entrepreneurs in Stockholm, the Norrsken Founders Fund, and Norrsken VC.

“Africa has the youngest population globally and its upcoming digital-first generation is the future of Africa – and the world,” Adalberth said.

“We’re delighted to announce this final close and with the support the fund has received. There are huge opportunities in Africa. We are excited to continue our mission of driving funding into African tech, and creating jobs and sustainable growth in the region.”

He noted that Norrsken22 had already made five impact investments in South African challenger bank, Tyme Bank, African business-to-business digital commerce platform, Sabi, Africa’s leading identity verification solution, Smile ID, and Nigeria’s auto-financing platform, Autochek.

Related Topics:Africa Featured Investor Norrsken22 Tech-Growth

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Tech

RepAir, Cella partner to launch carbon capture in Kenya

Published

2 days ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

3 days ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.