General Magic has announced a $7.2million seed funding round led by Radical Ventures, with significant participation from a16z Speedrun and new investment from Figma VP of Product Brendan O’Driscoll and Larry James Erwin from OpenAI. The company has raised $8.4million to date, backed by Radical Ventures, a16z Speedrun, and Comma Capital, along with operators who…
Put next to the global rebound (+46per cent), that can look underwhelming. But the global number is a very distorted benchmark because it is overwhelmingly a US story. Indeed, equity funding in the US grew 66per cent YoY and accounted for roughly 70per cent of the global tally. So when US mega-rounds accelerate, ‘global funding’…
One of U.S. President Donald Trump’s loudest and richest supporters, Joe Lonsdale, has led investors to raise $11.7 million for Terrahaptix, a Nigerian startup that builds defence drones to bolster security systems across Africa. Lonsdale is also the founder of Palantir Technologies. Terrahaptix was co-founded by 22-year-old Nathan Nwachukwu and 24-year-old Maxwell Maduka in 2024…
Lagride has secured a $100 million financing facility from United Bank for Africa (UBA) to expand its Drive To Own programme and enable 3,500 Lagos drivers to transition from daily earners into long-term asset owners, business operators and mobility investors. The partnership strengthens Lagos State’s transportation ecosystem and accelerates the shift toward a structured, technology-enabled…
The Federal Government of Nigeria has secured a $1 billion innovation fund to support start-ups operating in the marine and blue economy sector, as the country intensifies efforts to diversify its economy away from oil. The Chief Executive Officer, Maritime Innovations Hub, Mrs Ronke Kosoko, disclosed during a press conference organised in collaboration with the…
MTN Nigeria has urged collaboration among private and public sector participants to overcome the risk aversion that has been plagued the development of the startup ecosystem in the country. Its Chief Strategy and Investment Officer, Babalola Oyeleye, who spoke during a panel discussion at MTN Cloud Accelerator Demo Day and Investor Mixer of 20 innovative…
One of Nigeria’s largest digital export marketplace, Niteon, has launched Niteon Capital, the first neobank built specifically for African manufacturers. Founded by Nigerian entrepreneurs, Tony Nwose and Daniel Chukwuemelie, the US-based startup has already built a reputation for helping verified African manufacturers, spanning agriculture, fabrics and minerals products connect seamlessly to international buyers. With operational…
A new playbook for global expansion is emerging from Nigeria’s tech ecosystem, with leaders using the United Kingdom (UK) as a strategic hub to unlock international capital, top-tier talent, and regulatory credibility. Speaking at the GITEX Africa summit on the panel ‘Nigeria’s Fintech Revolution,’ moderated by the UK Prime Minister’s Trade Envoy to Nigeria, Florence…
A global non-profit on a mission to create a fair and inclusive economy for the nearly two billion people who are failed by the global financial system, Accion, has announced the final close of a $61.6 million fund that will invest in early-stage fintech companies meeting the needs of financially underserved people globally. Accion Venture…
