22 On Sloane launches AI platform and $63M startup fund for African founders
What's the deal? Johannesburg-based 22onsloaneDealroom has a profile for this one. Try Dealroom → has launched the $63 million 22 On Sloane Startup Fund alongside a new artificial intelligence (AI) platform to back early-stage tech ventures across Africa. The fund targets startups building AI applications in healthcare, agriculture, financial services, and education.
What's the endgame? 22 On SloaneDealroom has a profile for this one. Try Dealroom →, which bills itself as Africa's largest entrepreneurship hub, wants to close the funding gap that has long held back local founders. The AI platform will double as a collaborative hub, offering mentorship, training, and access to global networks.
Why now? Backers argue Africa cannot wait as global players race ahead on AI. The continent's population is projected to reach 2.5 billion by 2050, most of it under 25 — a talent pool the fund aims to channel toward jobs and services.
What could go wrong? African entrepreneurs still face skepticism from international investors, and rising global memory chip prices — driven by the AI boom — could squeeze the affordability of hardware in developing markets.
The signal: The launch reflects a push to make Africa a producer of AI rather than a consumer market, pairing capital with infrastructure to assert what its backers call technological sovereignty.
Read more: ubuntutimes.co.za
Image credit: Jorge Lascar
