Cassava Technologies was spun out of Econet in 2021 as a standalone business for digital services and infrastructure, operating data centers, fiber broadband networks, renewable energy, cloud and cybersecurity units. Its Liquid Intelligent Technologies unit built the terrestrial segment of Google’s Umoja route, and Liquid C2 has partnerships with Google and Anthropic to bring cloud, cybersecurity and generative AI services to African companies. The company’s first African data center has been operational for about a year. Cassava announced $310 million in total funding, of which $220 million is a credit facility for a subsidiary and $90 million is an equity tranche. The equity tranche included investments from Google, the U.S. International Development Finance Corporation (DFC) and Finnfund. Management said the funding will strengthen the balance sheet, drive sustainable profitable growth and support a broader reorganization to expand digital infrastructure and services. The deal and existing partnerships are positioned to help Cassava scale connectivity and cloud offerings across Africa and other key growth markets.

Total raised

$90M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2024