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.
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
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: Uncompleted Old Enugu-Onitsha Road brings untold hardship, tears to commuters, residents of Enugu communities
Ugwu Obinna’s younger sister was killed after a truck driver transporting cows rammed into her shop located at the Okpatu...
INVESTIGATION: Students sit on floors, under leaking roofs as multi-million naira project is nowhere to be found in Zamfara
Suleman Tukur, 15, an SS 2 student of Government Day Secondary School (GDSS) Bakura in Bakura local government area of...
INVESTIGATION: UBEC mum as N80m Kebbi secondary school lab equipment still undelivered since 2020
“Our laboratories are not conducive for learning; the termites have destroyed most of these laboratories, and there is not enough...
In Niger, communities suffer as multi-billion naira Auna Dam project remains uncompleted despite 38 years of investments
In Niger State, the over 20 communities around Auna River have had their hopes for fresh water, electricity supply and...
INVESTIGATION: Years after, 15km Eleme-Onne end of East-West Road remains death-trap despite billions released
In this report, ARINZE CHIJIOKE chronicles the sufferings of road users on the 15km Eleme-Onne end of the East-West Road...