Investment

African start-ups set to benefit from Xecced Ventures $100m Industry 4.0 fund

Xecced Ventures - cfamedia

Xecced Ventures, a Venture Capital firm based in London seeks African startups to make investments.

The investment fund between $500 000 and $5 million is going into African startups within the Industry 4.0.

Technologies in the Industry 4.0 categories include machine learning, artificial intelligence (AI), the Internet of Things (IoT), cloud and cognitive computing.

Ibrahim Sanusi, Principal at Xecced Ventures stated that the firm was close to $70-million around October.

The Venture Capital firm is also seeking means of co-investment with the Tony Elumelu Foundation.

Asides the London Office the firm has other branches in California, United States and will soon expand to Addis Ababa in Ethiopia.

According to Sanusi, the investment fund would impact the ecosystem of Industry 4.0 African startups, as it is set to focus on pre-seed to Series B round of funding.

“The ultimate goal is to mitigate against the impact of Industry 4.0 on Africa, for example, 85% of jobs in Ethiopia risk being lost to Industry 4.0 according to a study,” Sanusi stressed

Also, in the words of Sanusi, Xecced Ventures work have partnerships with the private and public sector as well as exploring more co-investment collaboration.

On how the startups will approach Xecced Ventures, Sanusi had pointed out that this will serve as a good criterion to determine the resourcefulness of the start-up founders.

Sanusi had said that consideration for potential investment in these start-ups depends on the impact and return on investment provided by these start-ups.

“Most development gurus believe Africa has less than seven to 10 years leeway before the Fourth Industrial Revolution closes the window of opportunity for Africa to execute the inclusive growth playbook used by North-East Asian countries to rapidly industrialise,” Sanusi emphasised.


Featured Image: weforum.org


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