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African Energy-as-a-Service company, Solarise Africa, Secures $33.4m. 2 other stories and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today

1. African Energy-as-a-Service company, Solarise Africa, Secures $33.4M

A Pan-African Energy-as-a-Service company, Solarise Africa, has secured $33.4 Million in Africa’s largest C&I debt raise to date.

Jan Albert Valk, CEO, and Co-Founder of Solarise Africa disclosed this in a statement seen by Ripples Nigeria on Monday.

Ripples Nigeria gathered that the investment bank Lion’s Head-managed fund, the Facility for Energy Inclusion (FEI) acted as lead arranger for a USD 33.4 million multi-country facilities for Solarise Africa’s subsidiaries in Africa.

The company provides reliable and affordable decentralized energy solutions for businesses in Africa.

“We are very honoured and grateful for the confidence the investors have shown in us.

“As the largest debt raise in Africa’s C&I space to date, this proves that Solarise Africa has a solid business model. We are proud to welcome these three prestigious new investors – Lead arranger FEI, Oikocredit, and AfricaGoGreen – to our current group of investors,” stated Albert.

Tech Trivia: Which of the following file types is an open format?
A. JPEG image
B. DWG model
C. Illustrator drawing
D. Numbers spreadsheet
Answer: see end of post

2. Gaming platform, Fenix Games, secures $150 million investment

A UAE-based gaming platform, Fenix Games, has secured $150 million in investment led by Phoenix Group and Cypher Capital.

Read also:Indian Fintech startup, Yabx, expands footprints into Nigerian market. 1 other story and a trivia

Chris Ko, CEO, and co-founder of Fenix Games confirmed the investment in a media release on Monday.

The funding comes as the Fenix Games seeks to roll up a lot of companies together into a single strong company with a big portfolio — one that can survive the current doldrums in blockchain games.

Chris Ko, Rudy Koch, Matt Nutt, and Antonio Hallack launched Fenix Games earlier this year.

“The market is similar to earlier [mobile gaming at the rise of free-to-play games] but it hasn’t found its Clash of Clans for blockchain games yet,” explained Ko.

Ripples Nigeria understands that the new investment will accelerate Fenix Games’ plans to acquire, invest and publish both existing games and blockchain games of the future.

3. Amazon halts wholesale distribution in India

Amazon has announced a decision to halt distribution exit in India.

The company’s spokesperson confirmed the development in a statement on Monday.

The American e-commerce giant said that it is shutting down Amazon Distribution in Bengaluru, Mysore, and Hubli.

Amazon Distribution has its wholesale e-commerce website available in small neighborhood stores.

“We don’t take these decisions lightly. We are discontinuing this programme in a phased manner to take care of current customers and partners,” a company spokesperson said in a statement.

Amazon, however, has not stated why it was shutting down the wholesale distribution offering.

Trivia Answer: Open Format

An open format is a file format with an openly-published specification that anyone can use. It is the opposite of a proprietary file format, which is only used by a specific software company or application.

By Kayode Hamsat

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