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Jordan’s ISSF Invests In Endeavor Catalyst’s Third Fund

Endeavor Catalyst, the investment vehicle of global non-profit organization Endeavor, has closed its 3rd Fund "Endeavor Catalyst III", with $134 million, of which $2 million is from Jordan’s Innovative Startups and SMEs Fund (ISSF), and $1.7 million from other Jordanian Limited Partners ("LPs"), according to a statement by its Managing Director, Allen Taylor. The rest of the amount was secured from a galaxy of international investors. Having invested earlier in 4 Jordanian companies: Kharabeesh, Altibbi, Mawdoo3 and Jamalon, Endeavor Catalyst is an innovative, rules-based co-investment fund through which Endeavor invests into its portfolio companies led by high-impact entrepreneurs around the world. Read Also: Anzisha Prize Announces Top 20...

Egyptian EsportsTeam Anubis Gaming Closes $300,000 Seed

Cairo-based esports team Anubis Gaming has closed $300,000 seed after raising $100,000 in fresh funds last month, it told MENAbytes last week. The investment takes total funding raised so far by Anubis to $450,000. The latest money came from a regional ecommerce group. Founded in 2015 by Youssef Mohsen, Anubis is an esports team that participates in competitive video game tournaments (for different game titles) at the regional and international levels. The startup told MENAbytes that they’re current regional champions of Crossfire and are in the playoffs for the world championship, which it said, makes it the first team in the history of Africa to reach such a high placement. Anubis founder Youssef...

SA edtech startup receives $7-million investment

Bradley Elliott, the Chief Marketing and Innovation Officer of Valenture provides insight into how the investment will help the edtech startup reach its goals.  The investment will be used towards the high-tech enabled boutique high school campuses in South Africa  “The investment will be used for further global expansion, enhancing the learning experience, and building out additional offerings such as new subjects and exclusive bootcamps like Coding, Design Thinking, Data Science, and more.” In addition, the funding will be used for resources dedicated to the roll-out of the school’s hybrid, tech-enabled, boutique campuses, which combine online learning, in-person guidance by Learning Coaches, and socialising with peers, and additional features...

South African Crypto Startup Luno Acquired By World’s Largest Blockchain Investor

Good news for founders and investors in leading South African cryptocurrency exchange, Luno. Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, has announced that it has acquired the company, 7 years after it was started. Good news for founders and investors in leading South African cryptocurrency exchange, Luno. Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, has announced that it has acquired the company, 7 years after it was started. Here Is What You Need To Know Nothing is however changing in the leadership team of the company as Luno’s team will remain intact and Swanepoel will lead acquisition...

Why Good Governance is Key to AI Readiness

The events of 2020 have opened the world’s eyes to digital transformation as never before. Despite many people not being aware of the term, remote learning, working and socialising has seen people embrace more technology than ever. Much of this adoption is of technology that has been around for quite a while, but more and more, we’re seeing some advanced services and solutions being spoken about as countries and companies look to emerge from the crisis stronger. One of these, probably the most prominent, is AI. AI seems to make a regular appearance in success stories surrounding COVID-19 specifically. Lebanon is a case in point where citizens...

Grant worth $25 000 launches for young SA filmmakers

 A new streaming service, Hissbox, has launched a grant funded by the (HDFF) which gives producers up to $25,000 in funding for the production of TV series, feature films, and documentaries. Hissbox aims to focus on ”telling the untold stories” and with the new grant, it is on the hunt for incredible stories to share via its platform. Founded by Nigerian born, L.A based serial entrepreneur Chinecherem Ez, the platform offers over 400 pieces of content including world-class originals, blockbuster films, series, documentaries, and much more. Read aslo; Bitcoin’s ‘Quiet Boom’ In Africa Commenting on the current offering of streaming services, Ez explains what makes Hissbox different.  “The concern with...

Binance Offers DeFi Coders $100,000; DeFi Market Value Hits $8 Billion

Binance, the world’s largest crypto exchange by market volume, is offering a big financial reward to crypto coders. The crypto powerhouse recently started a $100 million seed fund to attract more decentralized finance (DeFi) coders to its smart contract-enabled Binance Smart Chain. Read also; SMEGO Launches Platform To Enable Small Businesses Raise Funds In South Africa Each proposal will go through security audits and due diligence. Approved DeFi projects can get up to $100,000 in funding, while their tokens will benefit from the liquidity available through Binance’s proprietary blockchain. The Malta-based firm says high-quality projects may also be listed on Binance. DeFi Pulse, which tracks the value of the DeFi...

LabEight* Ventures Launches “LabEight* Africa”

LabEight* Ventures, a Canadian Venture Initiative, launched LabEight* Africa to operate out of Lagos, Nigeria in July 2020 as an innovative financial product designed to capture value missed by existing financial products, and bring together an ethos of operationally focused venture capital investing. We focus on tech and tech-enabled startups with a social impact approach.  Managing Partner Jason D. Salvagni strongly believes there couldn’t have been a better time to Launch LabEight* Africa. In his words “With all the turmoil in the world at present, LabEight* Africa’s mission is now more important than ever. Our commitment to raising up African entrepreneurs – in Africa – to benefit Africa; Our commitment...

Huawei Plans A $60mln+ Technology Park In Angola

Chinese tech giant Huawei announced an investment of more than $60 million in a technology park in Angola. The announcement was made by Chu Xiaoxin, MD of Huawei Angola, after a meeting with Angolan Vice President Bornito de Sousa on August 27. Huawei said the new facility will be dedicated to training and knowledge sharing in the areas of new technologies. It will be built in the Talatona district in Luanda, the Capital. Inauguration and commissioning are expected for December 2021. READ SwedFund Commits $12M In Set Fund To Boost Renewable Energy Projects In Africa The tech park will have three centers for training Angolan engineers, creating new technologies,...

Your Startup Is a Movement

During this campaign season, many of us are reflecting on how change is created and political movements take hold. There is an analogue between grassroots politics and startup evangelism. The best founders talk eloquently about their mission and the change they want to make in the world. They speak about something larger than dollars and cents. They articulate a vision of the future that attracts adherents. They create a movement. If you want to understand how Tesla can become the most valuable car company in the world without needing to spend a dime on advertising, while its competitors futilely buy Superbowl ads, or why 170,000 people...

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