Egyptian deeptech Intella closes $3.4m pre-Series A round

Points clés à retenir

From healthcare and education to agriculture and transportation, AI is increasingly being adopted by African startups and businesses to improve operations, increase efficiency, and drive growth. Perhaps the most exemplary startup is InstaDeep, a Tunisia-based startup that launched in 2014 to create AI products for businesses and was acquired by Germany’s largest vaccine maker BioNTech in January for up to $680 million. InstaDeep may have grabbed all the attention this year—and rightly so given the deal is the largest of its kind (African startup acquisition) and placed Africa's AI industry on the global map—but there are a number of many other exciting startups solving problems with AI across Africa. AI could add as much as $15.7 trillion to the global economy by 2030, per PwC estimates. Africa has real potential to become a leader on this front, helped by its large youth population, growing middle class, and increasing access to mobile and internet technologies.