Almentor closes $6.5-million in funding. 2 other things and a trivia | Ripples Nigeria
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Almentor closes $6.5-million in funding. 2 other things and a trivia



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

1. Almentor closes $6.5-million in funding

Leading video e-learning platform, Almentor, has secured $6.5-million in a funding round led by Partech.

According to report, Sawari Ventures, Egypt Ventures, and Sango Capital participated in the exercise.

The fund raising brought the total financing the company has garnered since its inception to $14.5-million.

The General Partner at Partech, Cyril Collon, acknowledged that the company has a unique business model and offering.

He said: “We are very proud to lead this latest round of financing. Since our first interaction, we have been very impressed by Ihab and Ibrahim, two fantastic mission-driven entrepreneurs who have been executing on a bold vision since 2016, and who built the leading Arabic self-learning go-to content provider in the Middle East and Africa.

“We are looking forward to supporting the company in its next phase of growth to serve the 430 million Arabic-speaking population and expand access to on-demand cutting-edge personal learning and development options.”

Tech Trivia: The following tech founders are college dropouts except?

A. Bill Gates

B. Mark Zuckerberg

C. Steve Jobs

D. Elon Musk

Answer: See end of post.

2. Egyptian Appetito seeks African expansion after funding

Appetito, an Egyptian startup, has announced its plans to expand across Africa after securing a seed funding round.

The startup, which was founded in March 2020, is a grocery delivery platform that sources products from manufacturers.

By venture, the startup stores them in its warehouses and ships them to customers via mini fulfillment centres.

Speaking on the development, the Founder of Appetito, Shehab Mokhtar, noted that startup has commenced 60 minutes delivery service.

He said: “We started the next day and pre-scheduled deliveries. Lately, we launched our same-day delivery – under 60 minutes – in selected areas.

“The main gap we are addressing for our customers is getting their household products in a convenient and affordable way with a great customer experience.

“Most of the supermarkets that do home delivery do not focus on customer experience and they fail to deliver in a timely manner.”

3. MIT-based fellowship opens call for application

In a bid to support African entrepreneurs, the Legatum Centre for Development and Entrepreneurship under the Massachusetts Institute of Technology (MIT) has opened call for applications into the inaugural Legatum Foundry Fellowship.

The Legatum Centre was founded in 2007 on the belief that innovation-driven prosperity.

According to reports, the goal of the foundation is to increase prosperity and build more inclusive systems in emerging markets.

Building on the MIT ethos of Mens et Manus (Mind and Hand), the Foundry is a place where entrepreneurs come together to reflect on their achievements and shape their futures as leaders in business, investing, and governance.

Today, the programme includes an interactive online curriculum followed by a three-week immersive session that brings the cohort together to explore innovation-driven ecosystems.

An initial cohort of 15 Fellows will be selected for this fully-funded programme. Entrepreneurs working and living in Uganda, Ethiopia, Ghana, Nigeria, Kenya, Rwanda, and Senegal are invited to apply, while nominations are also accepted.

Tech Trivia Answer: Elon Musk

Elon Reeve Musk is an entrepreneur and business magnate. He is the founder and Chief Executive Officer at SpaceX. He is also the founder of The Boring Company; and co-founder of Neuralink and OpenAI.

Musk has a college degree in Physics.

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