BREAKING: Top Block Chain Company Launches $4 Million Fund to Boost African Startups

A top blockchain company from Israel identified as Starkware has announced a $4 million fund to support new tech businesses in Africa.

The company, valued at $8 billion, wants to help early-stage startups that use blockchain technology.

The fund will provide up to $150,000 for small startups, with bigger investments available for companies using StarkWare’s platform, StarkNet.

The focus will be on startups in West, South, and East Africa that have strong tech skills and local business knowledge.

According to Kheireddine Kamal, the Head of Africa Ventures at StarkWare, the company is looking for startups in African countries with high inflation, unstable currencies, or low financial access.

The selected startups will also receive mentorship and could get further investments of up to $500,000.

With Africa’s growing young population and increasing interest in cryptocurrency, experts believe blockchain technology could help businesses avoid financial system challenges.

StarkWare’s CEO, Eli Ben-Sasson, said blockchain can bring more financial freedom and transparency to the continent.

StarkWare was founded in 2018 and has developed key blockchain solutions, including StarkEx and StarkNet, which help make transactions faster and cheaper.

The company believes its investment will help African startups grow while using the power of blockchain technology.