African technology company Cassava Technologies has raised $310 million through equity and debt financing, with Google among the investors.
Additionally, the company’s subsidiary, Liquid Intelligent, secured $220 million through agreements with Nedbank, Rand Merchant Bank, Standard Bank, and the World Bank’s International Finance Corporation (IFC).
Cassava operates across a wide range of sectors. Its subsidiaries include Liquid C2, a cloud solutions provider; fintech company Sasai; renewable energy business Distributed Power Africa; and the artificial intelligence arm, Cassava AI.
The company currently operates five facilities. Two are located in Nairobi, Kenya, and Lagos, Nigeria, while the remaining three are in South Africa. Of these, one is near Cape Town, and the other two are near Johannesburg. Cassava also plans to open another facility in South Africa.
Founded by Zimbabwean billionaire Strive Masiyiwa, the company continues to make significant investments across the continent.
Last year, the company announced plans to expand its portfolio with a new 30MW data center in Accra, Ghana, as well as additional facilities in Kigali (Rwanda) and Lome (Togo).