13 Jun Orange announces $56m African startup investment initiative
Orange global telecommunications firm has announced her commitment of EUR50 million (US$56 million) to her Africa-focused arm of Orange Digital Ventures, a early-stage investment program.
In 2015, the firm launched Orange Digital Ventures to identify, fund and provide strategic support to early-stage startups worldwide and committed an intial amount of EUR20 million (US$22.4 million) to the entire project.
This new announcemen further showcased the company’s interest and aims to support African startups that offer responses to the challenges within Africa . Orange Digital Ventures Africa wil focus on startups with activities based on internet of things (IoT), Fintech, Energy, E-Health and other new areas of connectivities.
A dedicated team will also be set up in Dakar, Senegal in September.
Interested startups can submit applications here.
[Excerpts from Disrupt Africa]