Google for Startups Announces $4 Million Black Founders Fund for African Startups

Editorial Desk
By Editorial Desk 2 Min Read

In a bid to address racial inequality in venture capital funding, Google for Startups (GfS) has launched the $4 million Black Founders Fund for African startups.

The fund aims to provide equity-free grants and mentoring to early-stage, high-growth businesses led by Black entrepreneurs in Africa and Europe.

A total of 25 African-based startups have been selected to receive funding, with each startup eligible for up to $150,000 in non-dilutive cash awards, Google Cloud credits, advertising support, mentoring, and access to Google’s network.

Folarin Aiyegbusi, Head of Startups Ecosystem, Africa at Google, expressed excitement about working with these innovative founders who are using technology to solve pressing challenges in Africa. Aiyegbusi emphasized the commitment of the Google for Startups Black Founders Fund to address the inequality in venture capital funding by providing Black founders with the necessary resources and support to succeed.

Cathy Chepkemboi, the Founder of Tushop, one of the selected startups, commented on their ambition to empower Kenyan consumers and increase their buying power through leveraging technology. Chepkemboi expressed gratitude for the support from Google for Startups, bringing them closer to their goal of positively impacting the lives of millions of consumers in Kenya and beyond.

The selected startups include various innovative companies from different African countries, such as Akoma Health (Nigeria), BezoMoney (Ghana), Chargel (Senegal), Charis UAS (Rwanda), Evolve Credit (Nigeria), Excel At Uni (South Africa), EzyAgric (Uganda), Fez Delivery (Nigeria), Fleetsimplify (Kenya), HealthDart (South Africa), Herconomy (Nigeria), Jumba (Kenya), and many others. These startups range from providing tech platforms for mental health services and digital banking to supporting student funders and enhancing Africa’s farming sector through AI-powered mobile technology.

The Google Black Founders Fund continues to play a crucial role in supporting the growth and success of Black-led startups in Africa and Europe, contributing to the digital transformation of the continent.

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