Chan Zuckerberg debuts in investment!

Couple Dairies

Founded in 2014, New York-based startup Andela trains software developers in Africa (Lagos, Nigeria, Nairobi and Kenya). The Chan Zuckerberg Initiative, created by Mark Zuckerberg and his wife Priscilla Chan, is leading a $24 million in Series B funding round of Andela. Investors like Google Ventures participated in round. With this, the couple marked its first step to investment. The capital will be used to expand in Africa.

Chan Zuckerberg’s previous investments have been scattered among several non-profits and limited-liability companies, which are now under the banner of the initiative.

About Chan Zuckerberg & Andela

The Chan Zuckerberg initiative will fund with 99% of their Facebook shares, which are now valued at about $48 billion. Reportedly, the duo will initially focus on “personalized learning, curing disease, connecting people and building strong communities.”

Andela aims to train 100,000 young developers over the next 10 years, Jeremy Johnson, Andela CEO stated in an interview. The startup has hired 52 mentors to work with its developers. There has been a shortage of engineers in the US and Andela tries to overcome this problem.

Takeaways:-

• The Chan Zuckerberg Initiative, created by Mark Zuckerberg and his wife Priscilla Chan, is leading a $24 million in Series B funding round of Andela.
• With this, the couple marked its first step to investment.
• The capital will be used to expand in Africa.