Crypto Valley Venture Capital (CV VC) has invested $75000 in South Africa-based crypto startup, PocketJam. The funding came as part of its effort to scale two startups that participated in its CV lab incubation programme with funding up to $125,000.
The Crypto Valley Lab Incubation Programme is an initiative that offers a ten-week intense program to startups in the blockchain industry. It also offers a platform for startups to exchange ideas about innovation in blockchain, tokenomics, and fundraising.
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PocketJam was one of the startups that participated in the first CV labs incubator programme in April. The startup was nominated for its blockchain app that incentivizes children for participating in math challenges.
The investment will enable the startup to scale its business in Cape Town and further penetrate the blockchain market. It will also make the Swiss venture Capital own a 10% stake in the blockchain company.
It is imperative to note that the Swiss Crypto Venture Capital has since its inception evaluated 800 startups in the two rounds of its incubation programme. It has also provided seed funding for about 1000 projects across 27 industries.
With the CV lab second incubator programme ongoing, we hope to see more African blockchain startups receive more fundings.