FinChatBot raises $1.6m for Expansion in Europe, West Africa South African conversational AI startup FinChatBot is looking to expand into West Africa and Europe after the firm announced in November that it raised $1.6-million from a round led by French investment firm Saviu Ventures, and early investors South Africa’s Kalon Venture Partners, and Mauritius-based Compass Venture Capital.
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FINCHATBOT, WHICH develops conversational AI solutions for financial services providers, was founded in 2016 by CEO Antoine Paillusseau and Romain Diaz. The new investment brings the total amount of venture capital the startup has raised since launch to about $2.7-million. The Johannesburg-based startup said it will use the latest round of funding to grow its team by about 50 more people and to open new offices in France, UK and Portugal. ai
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SA venture BriteGaze to launch R500-million AI fund BriteGaze, a South African venture launched in September by former Liquid Telecom South Africa CEO Reshaad Sha, is set to launch a R500-million AI-focused fund in the coming months.
BRITEGAZE FUND One will invest in businesses from South Africa and around the continent that are building capabilities around AI. BriteGaze will use its expertise in the telecommunications sector to target companies solving complex challenges that the industry faces in optimising and growing their businesses. The firm announced in October that it had completed a feasibility study for the launch of the fund, and that it aims to meet its R500-million funding target in the “coming months”. ai
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