Universal basic income will get another test, this time in Kenya. GiveDirectly will provide 6,000 rural Kenyans with $0.75 per day for the next dozen years. That’s about half the adult income in Kenyan villages, according to Omidyar Network, which provided almost $500,000 towards the $30 million pilot. The premise of universal basic income — that money to meet basic
SigTuple Technologies has raised $5.8 million for digital lab tests in India. Accel Partners led the Series A funding to help SigTuple scale up its digital lab tests. SigTuple, based in Bengaluru, India, deploys artificial intelligence to analyze blood, urine and semen samples, cutting analysis time in half. That could relieve overstretched medical resources in underserved areas
In 2013, Accion was the first investor in Clip, which has grown to become one of Mexico’s largest digital payment providers. Based in Mexico City and Palo Alto, Clip serves micro and small enterprises in Mexico that otherwise lack access to financial services. Clip’s rise is part of the growing Mexican startup scene, particularly in fintech.
By standard measures, India’s middle class is forecast to grow from 50 million in 2010 to 475 million by 2030. China’s middle class could grow from 150 million to as many as one billion, or about 70 percent of its projected 2030 population. Altogether, today’s global middle class of two billion could swell to five
Singapore health startup mClinica has raised $6.3 million to link pharmacies and global health data. Unitus Impact led the financing to help mClinica connect pharmacies in Southeast Asia and provide global health data to policymakers. Unitus’ Beau Seil said mClinica creates a “win-win scenario” for companies and public agencies delivering medicine and information to the hundreds
Prime Coalition and Investors’ Circle have backed solar startup, ConnectDER. ConnectDER helps home solar systems easily connect to the electric grid and helps utilities manage such distributed energy inputs. The $1.1 million investment includes nine individual investors from Investors’ Circle; Prime brought together a mix of program-related investments and grants from the Ellis Family Fund, the
ImpactAssets has released the 6th edition of its ImpactAssets 50 directory. This year’s list of 50 impact investing fund managers includes regular repeaters including DBL Partners, Media Development Investment Fund and Living Cities. Newcomers include real estate investment firm Turner Impact Capital and Dutch sustainable aquaculture investor, Aqua-Spark. The publicly accessible database is searchable by asset