Kenyan AI and Blockchain Startup Receives Investment From Swiss VC Firm

Fastagger Inc, an artificial intelligence and blockchain startup based in Kenya, recently announced that it has received investment from Swiss blockchain investor CVVC. Mutembey Kariuki said the investment will be used to fund the further development of Fastagger’s “technological excellence”, which uses artificial intelligence and blockchain.

Use of AI and Blockchain

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

In a speech published in the Kenyan newspaper Wallstreet reportKariuki talked about his company’s priorities and how the funding will help accelerate the startup’s growth.

“We are focused on delivering innovative solutions that use the best of both worlds to create new opportunities for businesses and individuals. I am confident that these investments will help us accelerate our growth and bring our vision to life. Our team is excited to work with CV VC to fulfill our mission and make a real impact on the world,” Kariuki said.

While Kariuki touted CVVC’s investment as a milestone for Fastagger and the African startup ecosystem as a whole, David Long, the venture capital firm’s chief and global head of investment, insisted that the startup’s funding is in line with its broader goal of “promoting growth and global implementation of blockchain technology.

David Long added that the venture capital firm, which has funded African blockchain startups in the past, chose Fastagger because it represents “the caliber of innovation and talent coming from the Kenyan Web3 and AI ecosystem.”

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