Deal Street

African Startup Funding Tracker


*Data updated daily at 18:00 EAT

Cassava Network Secures Seed Investment To Empower African Creators
Cassava Network Secures Seed Investment To Empower African Creators

Adaverse, a Cardano ecosystem accelerator established to foster the growth of crypto-native projects in Africa has announced its investment into a seed funding round for Cassava Network, a blockchain infrastructure that empowers African content creators, developers, and end-users through mutually aligned tasks and incentives. Over 40 investors, including Dragonfly, CMT Digital, YGG, and Mirana participated in the recently closed investment round to implement the next phase of Cassava platform development.

Cassava is a blockchain infrastructure that connects developers and users to the Web3 ecosystem. Through its native token CSV, Cassava transforms any web application into a crypto-enabled app suitable to reward contributors and end-users for their dedication. Their product offering consists of token rewards networks, digital identification systems, user-controlled data profiles, and a crypto and NFT wallet specifically designed to empower content creators.

Cassava Network seeks to use the investment capital to expand and improve its technological capabilities in order to leverage the Web3 economy to drive crypto mass adoption across Africa and beyond. The next phase of Cassava development will include a multi-chain wallet that incentivizes users, an African-focused NFT Marketplace, and a rewards system that pays users for transacting and using apps in Cassava’s ecosystem.