12 October 2017

Kenyan IT Firms to Get Share of Zuckerberg-Backed Sh4 Billion Fund

Photo: Facebook
Facebook founder Mark Zuckerberg at the Co-creation Hub in Nigeria (file photo).

Zuckerberg-backed start-up, Andela, has raised Sh4.1 billion to boost IT talent in three African countries including Kenya through South Africa-based CRE Ventures.

The amount brings the Africa-based start-up's funding to over Sh8.1 billion with previous support from Chan Zuckerberg Initiative, co-founded by Facebook chief executive Mark Zuckerberg's wife Priscilla Chan.

Andela is a network of technology leaders dedicated to building high-performing engineering teams and companies by investing in Africa's most talented software developers.

The start-up's Nairobi office Andela Kenya said it has supported 300 local engineers since it started work in the last two years. "In the two years since we launched Andela Kenya we've already become home to 300 brilliant engineers who are redefining the meaning of leadership on the continent and building a reputation for technological excellence," said Country Director, Joshua Mwaniki.

Other financers namely DBL Partners, Amplo, Salesforce Ventures, Africa-focused TLcom Capital and existing investors; GV, and Spark Capital have participated in the investment.

The founding partner of CRE Venture Capital, Pule Taukobong said Andela was initiated to meet the global technical talent shortage and has currently hired 0.7 per cent of more than 70,000 applicants from the region. It currently has other offices in Nigeria and Uganda, with plans to open two more offices in the region over the next year - doubling its developer base from 500 to 1,000.

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