Kenyan AI and Blockchain Startup Receives Investment From Swiss VC Firm – Africa Bitcoin News

by Arthur · February 11, 2023

Kenyan AI and Blockchain Startup receives investment from Swiss VC firm

Fastagger Inc, an artificial intelligence and blockchain startup from Kenya, recently revealed that it had received an investment from Switzerland-based blockchain investor CVVC. Mutembei Kariuki said the investment will be used to fund the further development of Fastagger’s “cutting-edge technology expertise” leveraging AI and the blockchain.

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Uses AI and Blockchain

Kenya-based artificial intelligence (AI) and blockchain startup Fastagger Inc recently said it had secured an undisclosed investment from global blockchain investor CV VC. According to the startup’s CEO, Mutembei Kariuki, Fastagger plans to further develop its “cutting-edge technology expertise” leveraging AI and the blockchain.

In his comments published in a Kenyan Wallstreet Report, Kariuki spoke of the company’s focus and the funding would help accelerate the startup’s growth.

“Our focus is to provide innovative solutions that leverage the best of both worlds to create new opportunities for businesses and individuals. I am convinced that this investment will help us accelerate our growth and bring our vision to life. Our team are excited to work with CV VC to achieve our mission and make a real impact in the world,” Kariuki said.

While Kariuki hailed the investment from CVVC as a milestone for Fastagger and the African startup ecosystem in general, David Long, principal and global chief investment officer at the venture capital firm, insisted that funding the startup aligns with its broader goal of “fostering the growth and global adoption of blockchain technology.”

David Long added that the venture capital firm, which has funded African blockchain startups in the past, chose Fastagger because it symbolizes “the caliber of innovation and talent coming out of Kenya’s Web3 and AI ecosystem.”

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Terence Zimwara

Terence Zimwara is a Zimbabwean award-winning journalist, writer and author. He has written extensively about the economic problems in some African countries, as well as how digital currencies can provide Africans with an escape route.