Weekly Tech Pulse
Silicon Valley Discovers LATAM AI, Japan Bets Big on Africa, Egyptian Expats Get Their Own Bank
US & International Startup & Tech News
Microsoft and Uber alum raises $3M for YC-backed Munify, a neobank for the Egyptian diaspora
Munify, founded by former Microsoft and Uber engineer Khalid Ashmawy, has raised $3 million in seed funding from Y Combinator and regional investors including BYLD and DCG. The cross-border neobank aims to provide Egyptians abroad with faster and cheaper money transfers home, while offering residents access to U.S. banking services. The platform directly connects banking systems across countries and serves the massive Egyptian remittance market worth nearly $30 billion annually. Munify launched just two weeks ago and has already gained early traction with thousands of sign-ups and contracts with mid-sized companies representing over $50 million in projected monthly volume.
Source: TechCrunch
a16z spends $1.49M in Washington lobbying, while rivals mostly sit out
Andreessen Horowitz has spent $1.49 million on federal lobbying so far this year, outpacing most major VC firms and even narrowly exceeding the National Venture Capital Association's spending. The firm's lobbying efforts focus on digital assets, stablecoins, AI, and defense issues, with the National Defense Authorization Act appearing as a specific lobbying target since 2023. While other major firms like Sequoia Capital report minimal lobbying spending, a16z has significantly ramped up its Washington presence as it pushes into regulated industries.
Source: TechCrunch
Japanese VC Uncovered Fund Commits $20M to African Startups
Uncovered Fund, a Japanese venture capital firm, has launched a new $20 million investment fund in partnership with Monex Ventures called the Uncovered Monex Africa Investment Partnership (UMAIP). The fund will provide initial investments of $100,000 to $500,000 for early-stage startups, with follow-on funding of $1-2 million, targeting 30 companies across Africa and the Middle East. Since 2020, Uncovered Fund has invested in 29 entrepreneurs across 17 countries, including notable startups like Nigerian communications provider Termii, logistics platform Gozem, automotive tech company Autochek, and fintech app Chari. The fund focuses on four key sectors: finance, sustainability, mobility, and distribution, including subsectors like agritech, logistics, climate tech, solar, mobile payments, and digital retail.
Source: Tech In Africa
LATAM Startup & Tech News
Osigu secures $10M from Eos Ventures to reshape healthcare payments in Latin America
Miami-based Osigu, founded by Guatemalan entrepreneur Fernando Botrán, has secured $10 million in strategic investment from Eos Ventures to transform healthcare payments across Latin America. The company operates as a cloud-based platform that manages transactions between insurers, healthcare providers, suppliers, and patients, reducing administrative costs and speeding up reimbursements. This marks Eos Ventures' first investment in Latin America, signaling confidence in Osigu's role as the region's healthcare payments infrastructure. The oversubscribed Series B round also includes backing from Visa and IDC Ventures, positioning Osigu to address the urgent need for digital transformation in Latin America's healthcare sector.
Source: RefreshMiami
Kira raises $6.7M in seed round to democratize access to AI-powered fintech products
Kira, a global payments infrastructure platform, announced the completion of a $6.7 million seed round led by Blockchange Venture Capital, with participation from Stellar Development Foundation, Vamos Ventures, and Grit Ventures. Founded by Edrizio De La Cruz (former founder of Arcus, acquired by Mastercard), Beto Díaz, and Camilo Jiménez, the company combines stablecoins, artificial intelligence, and enterprise APIs to eliminate technical and regulatory barriers for non-financial companies launching global fintech products. The funding will accelerate Kira's expansion in the region, with initial focus on Colombia, and strengthen its technical team across Mexico, Colombia, and Miami while developing new financial products.
Source: Startup Mexico
Darwin AI raises $4.5M from Base10 Partners to accelerate its expansion in Latin America
Darwin AI, a company specializing in creating and training AI-powered virtual agents for sales, customer service, and support processes, has closed a $4.5 million seed funding round led by Base10 Partners, marking the first investment from a Silicon Valley-based fund in the company. Founded in July 2023 by Lautaro Schiaffino and Ezequiel Sculli, who previously launched Sirena.app (acquired by Zenvia.com in 2020), Darwin AI currently generates over $2 million in annual gross revenue and operates in 20 Latin American countries. The company targets mid-sized businesses looking to scale operations without increasing headcount, with Brazil and Mexico as priority markets for expansion. Darwin AI estimates it will multiply its revenue tenfold by 2026 and aims to democratize AI access across Latin America.
Source: Forbes
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