Kenyan AI and blockchain startup receives investment from Swiss VC firm

Kenya-based artificial intelligence (AI) and blockchain startup Fasthacker Inc. recently said it has secured an undisclosed investment from global blockchain investor CV VC. The startup, FASTager, plans to further develop its “cutting-edge technology expertise” that uses artificial intelligence and blockchain and works through the same, according to the startup’s CEO Mutembei Kariuki. Based in Kenya, in his remarks published in The Wall Street Report, Kariuki spoke about his company’s focus and said the funding would help accelerate the startup’s growth. He further says that our focus is definitely on getting more solutions that take the best of the world to create the latest opportunities for businesses and individuals and I am confident that this investment will definitely give us the direction of our growth. To accelerate the pace and help in realizing our proper vision which we want to achieve. Our team is excited to work with CVVC to achieve our mission and grow reality and impact in the world. While Kariuki hailed the investment from CVVC as a milestone for Fastagar and the African startup ecosystem, David Long, global head of investments and head of investments at the venture capital firm, stressed that the startup’s funding is in line with its broader goal. and it certainly includes the adoption and development of blockchain technology and its development in a globalized situation. David Long further added that venture capital firms that have funded African blockchain startups in the past chose Fastager because it is seen as a symbol of “the potential for innovation and talent coming out of Kenya’s Web3 and artificial intelligence ecosystem”.


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