Kenyan AI and Blockchain Startup Receives Investment From Swiss VC Firm

Fastagger Inc, an artificial intelligence and blockchain startup from Kenya, recently revealed that it had received an investment from the Swizterland-based blockchain investor CVVC. Mutembei Kariuki, said the investment will be used to fund the further develop Fastagger’s “cutting-edge technology expertise” which harnesses AI and the blockchain.

Utilizing AI and the Blockchain

The Kenya-based artificial intelligence (AI) and blockchain startup, Fastagger Inc, recently said it had secured an undisclosed investment from the global blockchain investor CV VC. According to the CEO of the startup, Mutembei Kariuki, Fastagger plans to further develop its “cutting-edge technology expertise” which harnesses AI and the blockchain.

In his remarks published in a Kenyan Wallstreet report, Kariuki spoke of his company’s focus and the funding would help accelerate the startup’s growth.

“Our focus is on providing innovative solutions that utilize the best of both worlds to create new opportunities for businesses and individuals. I am confident that this investment will help us to accelerate our growth and bring our vision to life. Our team is excited to work with CV VC to achieve our mission and make a real impact in the world,” Kariuki reportedly said.

While Kariuki touted the investment from CVVC as a milestone for Fastagger and the African startup ecosystem in general, David Long, the Principal & Global Head of Investments at the venture capital firm, insisted that the funding of the startup aligns with its broader goal of “fostering the growth and global adoption of blockchain technology.”

David Long added that the venture capital firm, which has funded African blockchain startups in the past, chose Fastagger because the epitomizes the “caliber of innovation and talent coming out of Kenya’s Web3 and AI ecosystem.”

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.