22 on Sloane Launches AI Platform and $63M Startup Fund

In Short

• 22 On Sloane in South Africa has launched an AI-focused platform and announced a $63 million startup fund.
• Climate-tech company Biochar Industrial raised $1.5 million in pre-seed funding to scale carbon removal projects in Africa.
• Together, the updates point to growing investor interest in AI and climate-tech across African startups.

What Happened

22 On Sloane has launched an AI-focused platform and a $63 million startup fund aimed at supporting founders in South Africa and across the continent. AI, short for artificial intelligence, is software that can learn patterns from data to help automate tasks like forecasting, customer support, and decision-making.

The hub says the platform and fund will help entrepreneurs access tools, resources, and capital. It is targeting startups building AI products for sectors like financial services, healthcare, agriculture, and enterprise software.

In a separate deal, Biochar Industrial raised $1.5 million in pre-seed funding. Pre-seed is early money used to validate a product and start building operations before larger venture rounds.

Biochar Industrial focuses on industrial carbon removal in Africa. It produces biochar, a carbon-rich material made by heating organic waste without oxygen, a process called pyrolysis, which is like turning farm waste into a stable form of carbon that can be stored long-term.

Why It Matters

These two announcements underline where early checks are flowing right now in the African tech ecosystem. AI startups often need funding for data, computing costs, and talent. Climate-tech companies need capital for equipment, supply chains, and project infrastructure.

Biochar is also tied to Africa’s large volumes of agricultural and organic waste. If companies can reliably source waste and run pyrolysis at scale, they can create climate projects that generate revenue while cutting emissions.

For founders, the signal is clear. Investors are looking for businesses that combine strong technology with measurable outcomes, including sustainability and clear paths to global markets.