The programme, announced on April 2, brings open payments education into classrooms in North America, Europe, Australia and Africa.

It focuses on teaching students how to design systems that can work across different platforms, currencies and borders without the usual friction.

Today, payments are still split across multiple channels. Businesses usually rely on cash, cards, transfers and newer digital options, each with its own setup.

These systems rarely connect well. As a result, transactions that could be instant still take days, and costs is high.

The foundation is trying to change that through its Interledger Protocol, an open-source system designed to allow money to move freely between networks.

The idea is that different systems should talk to each other without limitations. If adopted widely, it could support digital payment infrastructure similar to national systems like India’s UPI or Brazil’s Pix, but with the added ability to work across borders.

Now, that thinking is being pushed into universities.

In Nigeria, Covenant University is introducing two courses focused on open payments and the Interledger system. Students will build real fintech tools through labs, hackathons and community projects aimed at improving financial access.

Across other regions, the approach varies but the goal stays the same. Some schools are embedding the coursework into business programmes.

Others are running internships, startup labs or research hubs. In South Africa, students are already building full payment applications as part of their final projects. In Kenya, the focus is on helping underbanked communities through student-led solutions.

In the United States, several historically Black colleges and universities are also involved. Students there are working on prototypes that address gaps in financial access while gaining practical experience.

The foundation says this is about building a pipeline of people who understand the limits of current systems and can improve them.

“The next generation of leaders has the opportunity to build payment systems that improve the closed, siloed systems of the past,” said Briana Marbury, president and CEO of the Interledger Foundation.

“Working with these universities, we have the opportunity to instil in students the knowledge and tools they need to design for interoperability from day one, so open payments become the standard, rather than the exception.”

This education drive sits within the organisation’s goal to expand open financial systems globally. It has already committed more than $21 million to over 200 projects in 42 countries, supporting developers, startups and researchers working on payment solutions.

More partnerships are expected as the foundation plans to open applications to additional schools later this year, as it looks to grow the programme and bring more students into the space.

The round was led by 8VC; a Silicon Valley venture firm founded by Palantir co-founder Joe Lonsdale, and included both global and African investors such as Valour Equity Partners, Lux Capital, SV Angel, Nova Global, Tofino Capital, Kaleo Ventures, and DFS Lab.

But to truly understand the impact, you need to look beyond the dollar figure and into what this means for Nigeria’s defence tech ecosystem, local manufacturing, and continental security resilience.

A Vote of Confidence in Local Tech and Talent

Terra Industries was founded in Abuja by Nathan Nwachuku and Maxwell Maduka, young engineers who built a technology platform that integrates autonomous drones, robotic ground systems and fixed monitoring towers to protect critical infrastructure across land and air.

The fact that globally recognised investors, particularly those with defence and technology sector experience, are backing an African company at this scale is notable.

It reflects a growing belief that African startups can build advanced hardware and software platforms, even in sectors traditionally dominated by foreign firms.

Why it matters: This is part of a broader shift where Nigeria’s engineering talent is increasingly trusted not just to use technology, but to create and scale it for global relevance.

Scaling Beyond Borders: Manufacturing and Innovation on the Continent

Unlike many startups that outsource hardware production, Terra’s strategy is to keep manufacturing on the continent. The company plans to expand its 15,000-square-foot facility in Abuja and to set up additional defence production facilities, while also growing its software and AI teams.

This approach has several implications:

Jobs and Skills Development: A local manufacturing footprint means high-tech jobs, from mechanical and aerospace engineers to AI and robotics developers, stay in Africa rather than being created abroad.

Localised Solutions: Technology tailored for Africa’s unique security challenges (from rugged terrain to diverse threat landscapes) is often more effective than off-the-shelf imports.

Export Potential: As infrastructure protection becomes a continental priority, Terra’s systems could become an African export, not just a domestic product.

Hard Tech is Emerging as a Frontier for African Tech Investment

Much of Africa’s startup narrative has focused on fintech, e-commerce, and digital services. Terra’s funding indicates that “hard tech”, robotics, defence systems, autonomous platforms, is now attracting serious capital.

Securing tens of millions at seed stage is rare in regions outside Silicon Valley, especially for hardware-centric companies.

By landing funding from major global players, Terra is helping broaden the types of tech that investors see when they think “African innovation.”

Impact: This lowers barriers for other deep-tech founders across the continent, potentially creating a new class of high-growth African tech companies.

Security and Infrastructure Protection as Economic Enablers

Terra’s solutions are not theoretical, they are already deployed at critical infrastructure sites, including power plants and mining operations, and secure assets worth billions of dollars across Africa.

In regions where industrial projects are frequently disrupted by militant activity, vandalism and theft, the lack of reliable security infrastructure can deter investment and escalate operational costs.

With locally developed autonomous monitoring systems:

• Energy and utilities become safer investments
• Mining and extractive industries can operate with improved continuity
• Governments have an alternative to importing expensive defence systems

Advancing a More Sovereign Security Tech Stack

Terra’s ambition mirrors global trends where countries aim to own and control key security technologies rather than depend on foreign suppliers. The company’s vision of a vertically integrated defence platform, hardware, software and data under one roof, mirrors what established firms like Palantir and Anduril are doing in the U.S.

For Africa, this kind of sovereign technology stack offers strategic advantages because the data generated on African soil stays under local governance; deployment can be customised for local threat profiles, and defense tech doesn’t become an import liability.

Potential Ripple Effects Across the Tech Ecosystem

Terra’s raise could create spillovers beyond defence . As the company expands its software and AI teams, it will require next-level engineering talent, pushing up training demand and specialised education.

Success stories like Terra can help form clusters, where startups, investors, universities and policymakers converge to build ecosystems.

More funding attention may flow to adjacent sectors like autonomous logistics, precision agriculture drones or smart infrastructure monitoring.

Summary

Terra Industries’ $11.8 million funding is more than a capital event, it is a signal of maturing tech entrepreneurship in Africa, especially in hard tech domains that blend hardware, software and national priority sectors.

Already, 87% of companies identify AI as a top business priority, and over 76% are actively using AI in their operations.

These numbers reflect a profound shift: technology is no longer a backstage support act but a strategic force shaping economies, societies, and everyday life.

Artificial Intelligence (AI) and the Internet of Things (IoT) sit at the heart of this transformation. Together, they are redefining how decisions are made, how risks are managed, and how value is created across industries.

From hospitals monitoring patients in real time to banks using predictive analytics to stop fraud before it happens, AI and IoT are moving from abstract concepts to everyday business tools.

Yet this expansion comes with complexity. As organisations embrace cloud platforms, remote work, and IoT‑enabled systems, their digital footprints grow larger, and so do the threats.

Cybersecurity has become a frontline issue, no longer a technical afterthought but a pillar of resilience and trust.

The role of IT has changed dramatically. Once focused on maintenance and uptime, IT teams now sit at the centre of strategy and risk management.

Cloud‑first architectures and interconnected networks have introduced new vulnerabilities, forcing IT leaders to act not just as problem‑solvers but as proactive partners in innovation.

AI is proving indispensable in this new environment. It can analyse vast datasets, detect anomalies, and automate responses at machine speed, capabilities that traditional approaches simply cannot match.

Combined with IoT, AI delivers real‑time visibility across connected devices, enabling predictive maintenance, intelligent monitoring, and faster decision‑making.

These are not abstract benefits; they are the difference between preventing a cyberattack in seconds or suffering a costly breach.

But the story is not only about opportunity. The rapid adoption of AI and IoT raises pressing questions about ethics, privacy, and governance.

Automated decision‑making must be transparent, accountable, and fair. Organisations also face a widening skills gap, as demand for professionals who can responsibly manage advanced technologies outpaces supply.

Striking the right balance between innovation and control is essential. Security‑by‑design principles, strong governance frameworks, and continuous risk assessment are no longer optional extras. They are the foundation for trust in a digital economy.

Looking ahead, IT will continue to evolve as AI and IoT become embedded in everyday operations. Success depends not only on adopting advanced technologies, but on aligning them with business goals, regulations, and culture.

For Nigeria, this transformation is both a challenge and an opportunity. With its vibrant fintech sector, growing digital economy, and youthful workforce, the country is well‑placed to harness AI and IoT for growth.

Lagos alone hosts hundreds of startups experimenting with AI‑driven financial services, while smart city initiatives in Abuja and other urban centres are exploring IoT for traffic management, energy efficiency, and public safety.

At the same time, Nigeria faces unique vulnerabilities. The country has one of the fastest‑growing internet populations in Africa, but also one of the most targeted by cybercriminals.

Reports suggest that Africa loses over $4 billion annually to cybercrime, with Nigeria accounting for a significant share. As more devices and systems come online, the stakes will only rise.

Government policy will play a decisive role. Nigeria’s National Digital Economy Policy and Strategy (2020–2030) already highlights AI and IoT as critical enablers of growth.

But translating policy into practice requires investment in infrastructure, stronger regulatory frameworks, and public‑private collaboration. Without these, the promise of AI and IoT could be undermined by weak security and poor governance.

Education and skills development are equally vital. Nigeria’s youthful population which is over 60% under the age of 25 represents a massive opportunity if properly trained.

Universities and technical institutes must integrate AI, cybersecurity, and IoT into their curricula, while businesses should invest in continuous upskilling. Otherwise, the skills gap will widen, leaving organisations vulnerable and innovation stunted.

Ethics and trust must also remain central. Nigerians are increasingly aware of data privacy concerns, from mobile banking to health records.

Embedding transparency and accountability into AI systems will be critical for public acceptance. Leaders must ensure that innovation does not come at the cost of fairness or human rights.

Real‑world examples already show the potential. Nigerian hospitals are beginning to explore AI‑enabled diagnostic tools, while logistics companies use IoT to track deliveries in real time.

These innovations demonstrate how technology can improve lives and strengthen businesses,  but they also highlight the need for robust safeguards.

Ultimately, Nigeria’s digital future will be shaped not only by technology but by leadership. IT leaders, policymakers, and entrepreneurs who embrace AI and IoT responsibly  with a clear focus on security, ethics, and long‑term value creation.

This will be best positioned to navigate an increasingly complex threat landscape. The question is no longer whether to adopt these technologies, but how to do so in a way that builds resilience, trust, and sustainable growth for Nigeria’s digital economy.

*Fola Baderin is a cybersecurity consultant and AI advocate focused on shaping Nigeria’s digital future.