Pan-African venture capital firm P1 Ventures has reached the first close of its second fund at US$25 million. The venture capital firm secured this capital from some of Africa’s largest industrial conglomerates and private companies, several fund of funds and general partners of global funds based in the U.S. and Europe.
South African payments orchestration platform, Revio, has raised US$5.2 million in seed funding to strengthen its efforts in tackling these failed payments that cost digital businesses billions in recurring revenue yearly. The two-year-old startup assists companies in streamlining their order-to-cash lifecycles while handling issues brought on by employing various payment options via its APIs.
Kenya-based impact investment firm Kua Ventures has invested more than US$1 million into the growth of 20 small and medium enterprises (SMEs) in the country. Formed in 2020, Kua Ventures started out providing much-needed capital, coaching and community support for SMEs to survive the economic downturn prompted by COVID-19 and the resultant lockdowns.
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 According to the company, it replaces the “now-outdated copilots and chatbots” with agents “operating autonomously, retrieving the right data on demand, building action plans for any task, and executing these plans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.”