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Nigeria’s MyCover.ai to scale its open insurance API platform with new funding

Nigerian insurtech startup MyCover.ai is announcing today that it has raised US$1.25 million in pre-seed funding led by Pan-African venture capital fund Ventures Platform with participation from Founders Factory Africa and follow-on investor Techstars. The startup, which participated in the Techstars Toronto program last year, said it will use the investment to bolster its in-house operations and tech talent, invest heavily in its proprietary technology and strategically expand its operations into other African markets.

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LATAM startups raise only US$406M in the first quarter of 2023

July 20, 2023

This is one of the lowest capital raising periods for Latin American startups in the last five years, according to a study by Endeavor. Latin American companies only raised US$406 million in the first quarter of 2023, according to the Venture Capital and Growth Equity Ecosystem 2023 study. The study also revealed that the number of investments is 40% above the first quarter of 2021.

CDPI Emerging Markets
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Addition leads US$6M seed round in Egyptian fintech Flash

July 20, 2023

Flash, an Egyptian fintech that provides cashless payment solutions for consumers and businesses through a scan-and-pay service, has raised US$6 million in seed funding led by Addition, the venture capital firm headed by former Tiger Global executive Lee Fixel. Flourish Ventures and other strategic angel investors participated in the round, which will help the startup accelerate product development and customer and business acquisition in Egypt.

CDPI Emerging Markets
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Salesforce Launches Industry-Specific AI Capabilities

September 10, 2024

Salesforce’s Dreamforce mega-conference is next week and the company’s publicity elves are already working overtime.  In the first of what are sure to be daily announcements this week, the company announced 100+ industry-specific prompts, data models, and AI capabilities across its fifteen industry clouds.  It also launched an AI Use Case Library to house its industry-specific AI offerings.

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