Kenyan Leta has raised $5 million to help businesses move goods cheaper and faster across Africa. European VC firm Speedinvest led the seed funding round, which was supported by Google’s Africa Investment Fund and Equator, an Africa-focused climate tech fund. The new funding will be used to scale its solution and to double revenue in the coming months as it expands into more countries across Africa. How Leta’s Platform Work African businesses spend up to four times the global average to transport goods, driving up prices for essentials like food and medicine. The African Development Bank (AfDB) reports that logistics costs account for a staggering 75% of total product costs in Africa. Most of these businesses also have to rely on manual logistics, leading to delays. Through its AI-powered platform
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Mar
SymbyAI, a SaaS platform leveraging AI to streamline scientific research, has secured $2.1 million in seed funding. Prominent investors who participated in the round include Drive Capital, CharacterVC, and others. The company plans to use the fresh seed capital to enhance platform capabilities, strengthen partnerships with research institutions, and expand its reach within the scientific community. SymbyAI is Streamlining Research Processes Scientific research has long been hampered by outdated processes, scattered resources, and inefficient collaboration tools. Researchers typically have to spend months reviewing papers, replicating experiments, and navigating fragmented data sources. Consequently, SymbyAI, an AI-powered SaaS platform, is solving these challenges by streamlining the research process and enhancing collaboration for scientists worldwide. Related Post: Crystal Brown’s CircNova Raises $3.3M to Accelerate Development of RNA Therapeutics Founded in 2023 by Ashia