4 African Blockhain Startups Secure $ 125,000 Each from CV VC

Blockchain-focused venture Capital firm, CV (Crypto Valley) VC, offers seed funding and an incubation programme to global tech teams in exchange for equity, and so far, has invested in startups including Xion and Wildcards.

As part of its expansion into Africa, the firm has selected 4 startups to join its incubation programme which comes with $125, 000.

The 4 startups are:

• Mazzuma – an international remittance and mobile money platform from Ghana
• HouseAfrica – a digital property validation system from Nigeria
• Pravica – a decentralized communication suite for enterprises in Egypt
• Carma – a Nigerian P2P data marketplace for the unbanked

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SEE ALSO: Nigeria Exchange, Busha, Raises $4.2 Million to Grow its 200,000 User Base to 1 Million

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The 4 Startups are coming under CV Labs Batch 03, which is the latest round of CV’s incubation program.

The round had a special “Africa Week” which saw CV VC partner with Binance Smart Chain (BSC), the University of Johannesburg, and the Cape Innovation and Technology Initiative to work with the startups for a week in both Cape Town and Johannesburg.

Investment in the 4 startups is part of CV VC’s larger expansion into Africa, in partnership with the Swiss State Secretariat for Economic Affairs (SECO), which intends to see CV VC build the first blockchain-focused accelerator on the continent and invest in 100 startups over the next 4 years. 

Speaking on Africa’s potential when it comes to blockchain, Gideon Greaves, Managing Director of CV VC Africa had this to say:

“I believe Africa is teaching us about the true use cases of blockchain and the opportunity it presents for greater inclusion.”

                 – Managing Director, CV VC Africa

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RECOMMENDED READING: Binance Smart Chain’s $1 Billion Growth Fund Collaborates with South Africa’s CV Labs to Drive Blockchain Adoption in Africa

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