Google joins $90M investment into Cassava to bolster Africa's digital infrastructure | TechCrunch
Dec 17, 2024 - techcrunch.com
Tech companies are investing heavily in infrastructure to meet the rising demand for cloud services and AI compute. Microsoft and BlackRock have launched a $30 billion fund for data centers and energy infrastructure, while Meta plans a $10 billion global subsea cable. Google has announced Umoja, a subsea fiber-optic cable connecting Africa and Australia, and invested in Cassava Technologies, a partner in the project. Cassava, which received $310 million in funding, aims to enhance digital infrastructure in Africa, addressing connectivity issues caused by faulty undersea cables. The funding includes a $90 million equity tranche from Google, the U.S. International Development Finance Corporation, and Finnfund.
Cassava, spun out from Econet in 2021, focuses on digital services and infrastructure across Africa and other growth markets. Its business units include Liquid Intelligent Technologies, which collaborated with Google on the Umoja project, and Liquid C2, which partnered with Google and Anthropic to offer cloud, cybersecurity, and AI services in Africa. This aligns with Google's $1 billion commitment to Africa's digital economy. The partnership aims to transform African businesses by enhancing operational efficiencies and customer engagement through generative AI.
Key takeaways:
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Microsoft and BlackRock have created a $30 billion fund to support new data centers and energy infrastructure for the AI boom.
Google is investing in Cassava Technologies to improve infrastructure across Africa, including a $90 million equity tranche.
Cassava Technologies aims to bridge the digital divide in Africa through digital infrastructure and services expansion.
Google and Cassava's Liquid C2 are partnering to bring advanced cloud, cybersecurity, and AI services to African businesses.
