Google has announced the 25 African startups selected for the third cohort of the Google Black Founders Fund program. The Black Founders Fund program was created to address the systemic racial inequality in venture capital funding by providing equity-free grants and mentoring to early-stage Black-led high-growth businesses across Europe and Africa.
With a $4 million commitment, selected startups will receive up to $150,000 in cash awards, $200,000 in Google Cloud credits, and expert mentoring. This funding will help the startups fuel growth, expand into new markets, and boost economic opportunities and job creation. Out of the 25 African startups, Nigeria led the pack with 10, followed closely by Kenya with 5.