
South African Biotech Startup Immobazyme Secures $1.3 Million in Funding
South African biotechnology company Immobazyme, founded in 2019 as a spin-off from Stellenbosch University, has secured $1.3 million in a recent funding round.
Cassava Technologies has teamed up with Nvidia to launch Africa’s first AI factory, which will be built in South Africa.
The move is expected to strengthen Africa’s position in the global tech industry and improve the continent’s access to advanced AI infrastructure.
The new AI factory will act as a central hub for developing and deploying artificial intelligence solutions designed specifically for Africa.
According to Bloomberg, the facility will support projects that address local challenges and create opportunities across sectors such as healthcare, agriculture, finance, and education.
Nvidia, a global leader in AI computing, brings powerful technology and expertise to the partnership.
Cassava Technologies contributes its deep understanding of Africa’s market needs and regional dynamics. Together, the two companies aim to speed up the adoption of AI technologies in Africa, making them more accessible and relevant to the continent’s realities.
This partnership builds on Nvidia’s previous work in Africa. The company recently worked with Gebeya, a talent development platform, to train 50,000 software developers in AI skills.
That effort was focused on closing the AI skills gap and supporting innovation in Africa’s tech sector.
South Africa was chosen as the site for the new AI factory because of its strong digital infrastructure and growing community of technology professionals. The country has become a key player in Africa’s emerging digital economy.
The factory is expected to create new jobs and drive economic growth in the region.
It also represents an important step in building Africa’s capacity to lead in AI development and innovation.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
South African biotechnology company Immobazyme, founded in 2019 as a spin-off from Stellenbosch University, has secured $1.3 million in a recent funding round.
Women-focused investment fund, Wic Capital, has secured a $1 million loan from a prominent UK investor, FSDAi Nyala Facility.
The Green Climate Fund (GCF) has approved a $50 million equity allocation to REPP 2, a new debt fund that will provide an opportunity to invest in the rapidly growing renewable energy sector in sub-Saharan Africa.
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