The UNICEF Innovation Fund has announced the 7 new startups for the first cohort of its UNICEF CryptoFund, out of which, 3 are from Africa.
The Fund received more than 400 submissions across over 70 UNICEF programme countries.
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SEE ALSO: Do You Have a Financial Solution for Africa? UNICEF Wants to Fund Your Blockchain Project
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Acording to UNICEF:
“This round of investments marks the first time a cohort is receiving both USD and cryptocurrency as well as the first cohort with over 50% of the companies being female-led.
The cohort also expands the Fund’s portfolio to Rwanda.”
– UNICEF
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UPCOMING WEBINAR – JUNE 19, 2021
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The 7 startups include:
- Xcapit (Argentina) – A platform that increases easy, safe access to financial services, including planning, gamified savings, and wealth management tools. Funding amount – 43.78 ETH
- Grassroots Economics (Kenya) – An organization integrating an emergency response+recovery platform where responders and communities can access digital payments and life-saving information, while also remotely tracking key performance indicators for projects. Funding amount – 40.50 ETH
- Somish Blockchain Labs (India) – A startup building an open, permissionless protocol for decentralized governance, creating decision-making structures for DAOs. Funding amount – $50, 000
- BX Smart Labs (Mexico) – A startup developing a decentralized app for saving circles, leveraging smart contracts to automate user payments and withdrawals. Funding amount – 18.87 ETH
- Leaf Global Fintech (Rwanda) – A startup developing a virtual bank for refugees and vulnerable populations, allowing for storage and transfer of assets across borders. Funding amount – $48, 900 & 20.69 ETH
- Rumsan Associates (Nepal) – A startup developing a digital cash & voucher assistance management system, using mobile-based blockchain tokens for emergency response+recovery programs. Funding amount – $100, 000
- Kotani Pay (Kenya) – A startup developing a platform for transfers, remittances, savings, withdrawals, loans, and payments and integrating solutions for users to easily interact with crypto. Funding amount – 19.88 ETH
This is second cohort of blockchain solutions investments by UNICEF as part of its larger explorations of blockchain technology and smart contracts with the goal of:
- Increasing organizational efficiency and transparency
- Leveraging innovative financing models to distribute resources
- Incentivizing and encouraging the creation of open-source digital public goods
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About UNICEF CryptoFund
The CryptoFund is a pooled fund of bitcoin and ether. It is a part of UNICEF’s Innovation Fund, with the distinction that investments made through the CryptoFund are denominated in crypto.
The CryptoFund is a prototype fund for UNICEF to explore the use of digital currencies, and what it means to operate in a digitally-financed future.
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RECOMMENDED READING: The Kenya Red Cross Launches a Token-Driven Basic Income System after the Success of the Sarafu Blockchain Community Currency
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