UNICEF Cryptocurrency Fund announces its largest investment of startups in developing and emerging economies – UNICEF

New York, 19June 2020 Eight technology companies in developing and emerging economies will receive investment from the UNICEF Cryptocurrency Fund (CryptoFund) to solve local and global challenges.

The CryptoFund will invest 125 ETH each in the eight companies from seven countries to develop prototypes, pilot, or scale their technologies over six months: Afinidata, Avyantra, Cireha, Ideasis, OS City, StaTwig, Somleng and Utopic.

All investees have previously received up to $100,000 from UNICEFs Innovation Fund and are now receiving cryptocurrency to continue the development of their open-source and digital public goods.

Within the scope of their technology, several investees are working to mitigate the hardships of COVID-19 on children and youth around the world. They are collaborating with national governments and local partners to send vital messages on COVID-19, track the effectiveness of rice delivery to vulnerable communities, improve childrens literacy through remote learning, treat pandemic and isolation-related anxieties, and other vital solutions.

We are seeing the digital world come at us more quickly than we could have imagined and UNICEF must be able to use all of the tools of this new world to help children today and tomorrow, says Chris Fabian, Senior Adviser, co-Lead, UNICEF Ventures. The transfer of these funds to eight companies in seven countries around the world took less than 20 minutes and cost us less than $20. Almost instant global movement of value, fees of less than 0.00009% of the total amount transferred, and real-time transparency for our donors and supporters are the types of tools we are excited about.

Selected from almost 40 startups that have graduated from the UNICEF Innovation Fund, these eight companies have undergone technical evaluations, quality assessments of their open-source tech solutions, evidence of impact and more. They join three other grantees that received the Funds first cryptocurrency investment last year.

Besides funding, investees receive business growth mentorship, product, and technical assistance, open-source and UX and UI development, access to experts and partners, as well as opportunities to showcase their solutions.

The UNICEF Innovation Fund and CryptoFund currently have an open call for blockchain solutions to apply for funding (up to $100,000 and cryptocurrency combined) and mentorship. More details here: http://www.unicef.org/innovation/applyBlockchainCrypto


Note to editors:

Prototypes of software, platforms and applications are available, demonstrations can be arranged upon request.

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UNICEF Cryptocurrency Fund announces its largest investment of startups in developing and emerging economies - UNICEF

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