Frankfurt (Germany) and Nairobi (Kenya), October 2021. We are very pleased to report that our Kenyan logistics-tech start-up Amitruck has been selected for Google for Startups Program’s newly launched Black Founders Fund. The $US 3 million facility has selected 50 start-ups from across Africa to receive the equity-free funding as a part of Google’s racial equity commitments announced in June 2020.
The Google for Startups Black Founders Fund in Africa supports early-stage Black-founded startups on the continent. The fund is intended to bridge the existing fundraising gap for Black startup founders in Africa’s fast-growing technology landscape. This non-dilutive $3 million fund is being allocated to 50 investable startups who will also receive Google Ad Grants and Cloud credits, as well as support from experienced experts at Google.
Amitruck joins a diverse cohort from across the African continent with particularly strong representation for Nigerian, Kenyan, and Ghanaian start-ups.
GreenTec is very pleased to see Amitruck being supported by the Black Founders Fund, as it confirms the successful and innovative approach of GreenTec’s Venture Building process. Building on the successful Venture Building experience GreenTec gained in over six years of operations on the African continent, we are currently in the final phase of structuringlook forward to the launch of our Africa focused Venture Capital Fund, which focuses on providing much needed capital to tech-enabled Startups on the continent paired with a strong Impact approach. If you wish to learn more, please contact Norbert Reeg and Alhaji Allie Bangura