Fastagger Inc, a Kenyan AI and blockchain startup, has revealed that it has received funding from CV VC, a blockchain venture capital based out of Switzerland.
The investment is seen as important because it is the first time a Web3 and AI startup based in Africa has received investment from the Swiss ‘Crypto Valley’ blockchain hub.
According to Fastagger CEO, Mutembei Kariuki, the company’s focus is on providing innovative solutions that utilize the best of both AI and blockchain to create new opportunities for businesses and individuals.
“I am excited to share that this investment will be used to further develop and scale our cutting-edge technology expertise that combines the power of Web 3 and AI.
I am confident that this investment will help us to accelerate our growth and bring our vision to life. Our team is excited to work with CV VC to achieve our mission and make a real impact in the world. This is a major milestone for our company and for the African startup ecosystem as a whole.”
🔥 Meet Mutembei Kariuki from our Batch_04 startup #Fastagger.
Want to excell your blockchain startup as well? Sign up for Batch_05! https://t.co/ueGVeUFCge pic.twitter.com/TFF7M2c4O9— CV Labs (@CV_Labs) June 8, 2022
According to the company, Fastagger uses the power of data to support the over 90% of SMEs in emerging markets such as Africa that have been and continue to be impacted by climate change.
By using AI and blockchain technologies to increase sales and access to finance, Fastagger says it is bringing customer insight and engagement to decentralize mobile-first retail and onboarding the next billion onto Web3.
The startup won the Emerging Talents category at the Falling Walls Conference in Berlin, Germany focused on ‘Breaking the Wall of Democratizing Artificial Intelligence.’
Fastagger is also part of the NVIDIA Inception program on AI innovations and the exclusive ‘Startup with Chainlink’ program, a purpose-built program supporting Web3 founders. Fastagger was also the only Kenyan start up in the 2020 Airbus BizLab Africa4Future program working on AI in agriculture using remote sensing data.
“Fastagger is the perfect example of the caliber of innovation and talent coming out of Kenya’s Web3 and AI ecosystem, enabling the acceleration of Africa’s prosperity by bridging the gap between the old economy and the new. We are honored to be a part of their journey,” said CV VC’s Principal & Global Head of Investments, David Long.
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