Octavia Carbon, a Kenyan startup in Direct Air Carbon Capture (DACC) technology, has raised $3.9 million in seed funding. This funding, co-led by Lateral Frontiers and E4E Africa, will allow the startup to scale its efforts to remove carbon dioxide from the atmosphere, aiding the global fight against climate change. Pioneering Carbon Capture Technology in Africa Founded in 2022 by Martin Freimüller, Duncan Kariuki, and Mike Bwondera, Octavia Carbon is Kenya’s first DACC company. Its machines capture carbon dioxide (CO2) from the air and store it underground to help reduce
Meta is reintroducing facial recognition technology across Facebook and Instagram to fight against scammers who use celebrity images in fraudulent ads. This move comes after the company abandoned facial recognition in 2021 amid to privacy, accuracy, and racial bias concerns. A Return to Controversial Technology In its latest effort to combat fraudulent ads, Meta’s facial recognition system will compare flagged images with the profile pictures of celebrities on Facebook and Instagram. If a match is found, the ad will be automatically removed. Meta’s initial rollout focuses on 50,000 high-profile public
In this episode of the Techish podcast, Michael and Abadesi dive into all the drama around OpenAI’s move from a nonprofit to a for-profit company. They discuss the impact on the company’s integrity, the motivations behind the move, ethical concerns about AI, and share their own startup experiences while exploring AI’s broader effects on society. OpenAI’s Transition from Nonprofit to For-Profit (01:00) Integrity and Ethical Considerations in AI (03:09) Sam Altman Is Extremely Good at Becoming Powerful (06:22) Listen to the episode You can find the Techish podcast on Spotify, Apple,
Klean Energy Kulture (KEK), an Atlanta-based nonprofit dedicated to driving clean energy adoption in Black and Brown communities, has launched its inaugural program, “Electrify the City.” This initiative aims to fast-track the integration of renewable energy in disinvested neighborhoods. It focuses on transforming cultural landmarks like salons, churches, entertainment venues, and community centers into sustainable energy hubs. Powering Cultural Spaces and Communities Through “Electrify the City,” KEK will partner with businesses, residents, and cultural leaders to install solar panels and electric vehicle (EV) charging stations in high-traffic community venues. The
Klasha, the fintech company changing cross-border B2B payments between Africa and Asia, has raised an additional $2 million in funding. This latest investment round, backed by existing investors such as Expert Dojo, Alumni Ventures, and Breega, brings Klasha’s total funding to $6.5 million. The new capital will be used to accelerate its expansion into the Asian market, including opening an office in Hangzhou, China, the hub of e-commerce giants like Alibaba. Scaling Payment Solutions for Emerging Markets With a focus on enabling seamless cross-border payments between merchants in Africa and
In a development for South Africa’s renewable energy sector, Grid Africa has raised R50 million ($2.8 million) in equity from Rifuwo Energy Partners. This investment comes at a pivotal time as the nation faces rising energy costs, exacerbated by Eskom’s – a government-owned company that is South Africa’s main supplier of electric power – proposed 36% tariff hike. The fresh funds will fuel the acceleration of solar energy projects across the country, offering businesses a cost-effective alternative to grid electricity. Timing Amidst Rising Energy Costs With South Africa’s state-owned power
Justin Lee, an aerospace engineer and Tuskegee University alumnus, has created a device to support people with hearing loss. Inspired by his close friend, Kenneth Tissot, a Vietnam veteran who struggled with hearing the television, Lee founded Quantum Senses in 2021. The company’s flagship product, Earcoustic headphones, is a battery-free hearing amplifier that enhances sound for individuals with mild to moderate hearing loss. At a highly affordable price of just $19.99, the product is designed to bridge the gap for those who may not have the means to afford expensive
CapWay, the fintech startup aimed at tackling financial inequity, has officially shut down. Founder Sheena Allen announced the closure, expressing pride in CapWay’s mission while also sharing disappointment that the journey ended prematurely. Allen’s LinkedIn post marked the end of CapWay, a company that strived to serve underbanked communities often described as “banking deserts.” “Although it has been a while, I am finally making the announcement that CapWay is no longer an active business,” Allen wrote on LinkedIn. Challenges in Fintech Funding and Regulation Founded in 2016, CapWay sought to
Hundreds of Americans have faced arrest after being linked to crimes by facial recognition software, according to a Washington Post investigation. However, the use of this technology is often not disclosed to defendants, depriving them of the opportunity to challenge its reliability in court. This finding is especially concerning for Black people who have been disproportionately subjected to wrongful arrests because of facial recognition tech. Lack of Transparency in Investigations The investigation found that police departments in 15 states used facial recognition in over 1,000 criminal cases over the last
Pamela Maynard, the newly appointed Chief AI Transformation Officer at Microsoft Customer and Partner Solutions, has been named the 2024 Black British Business Person of the Year. Maynard received the award at the 11th annual Black British Business Awards (BBBAwards), which celebrates the achievements of Black professionals and entrepreneurs across the UK. Pamela Maynard Pamela Maynard, formerly CEO of Avanade, a Microsoft-Accenture joint venture, led the company to significant growth and secured its 18th Microsoft Partner of the Year title. During her acceptance speech, Maynard emphasized the ongoing work to break down
