iiDENTIFii, the South African-based innovative biometrics tech firm, has raised US$15 million growth capital, in what is to date, the largest African Series A in the identity verification space. The round was led by African investment company Arise whose cornerstone investors include Rabobank Partnerships, Norfund, NorFinance, and FMO.
Solvento, the first fintech focused on the transportation sector in Mexico, announced a US$5 million capital raise. Solvento solves many financial needs for carriers: automating payments, invoice financing, and credit. By having those issues solved, they can focus on their operation and growth. The company, which has been in operation since 2021, revealed that it has accumulated $13 million in loans, which have gone to more than 4,000 carriers.
Egyptian and MENA-focused venture capital firm Algebra Ventures has announced in a statement that it has finalized a $100 million first close and expects to reach its final close by the end of Q1 2023.
Here’s a new buzzword for your Bingo card: “agentic AI”, which describes systems that act by themselves rather than in response to a prompt. Salesforce was all over the concept last week, announcing its Agentforce collection. According to the company, it replaces the “now-outdated copilots and chatbots” with agents “operating autonomously, retrieving the right data on demand, building action plans for any task, and executing these plans without requiring human intervention.”