BasiGo receives $1.5m funding from USAID. 2 other stories and a trivia

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

1. BasiGo receives $1.5m funding from USAID

In a departure from its traditional focus on biodiversity, water, and sanitation initiatives, the United States Agency for International Development (USAID) has allocated $1.5 million to BasiGo, a Kenyan startup specializing in the assembly of electric buses.

The founder of BasicGo, Jit Bhattacharya, confirmed the development in a press release seen by Ripples Nigeria on Friday, November 10, 2023.

This financial injection aims to “support pilot testing and scale-up” of electric vehicles in Rwanda, where BasiGo is expanding its electromobility initiatives.

The support from the United States comes as BasiGo strategically accelerates the electrification of public transport in Rwanda, addressing challenges posed by rising fuel prices and the imperative to diversify transportation options.

This financial injection from USAID was facilitated through its Development Innovation Ventures program, and is anticipated to establish BasiGo as a key player in the East African electric vehicle market.

Trivia: Which command deactivates a disk so that it cannot be read or written to?

A. Unmount

B. Reformat

C. Partition

D. Restore

Find answer below

2. Moroccan logistics startup CloudFret secures $2.1m investment

Moroccan logistics startup, CloudFret, secures a significant boost with a $2.1 million investment in its latest funding round.

The founder of CloudFret, Driss Jabar, while speaking on the prospect of the venture, confirmed this in a press release seen by Ripples Nigeria on Friday, November 10, 2023.

Investors AfriMobility and Azur Innovation Fund contribute to the €2 million infusion.

Since its inception in 2021, the company has expanded operations from Morocco to Marseille, with plans to double its workforce by the end of 2024.

The funding focus revolves around introducing an innovative solution to optimize empty truck returns, particularly targeting the intra-European market.

The mobile Software as a Service (SaaS) solution is accessible to European carriers, freight forwarders, and shippers across download platforms.

With this innovative solution, CloudFret aims to broaden its clientele among shippers and partner carriers.

CloudFret currently serves 130 shipper clients, engaging with 900 transport companies operating 7,000 vehicles across six countries—France, Spain, Morocco, Senegal, Portugal, and Italy.

3. Egypt’s Awfar closes new funding from Saudi’s Value Maker Studio

Awfar, the Egyptian SaaS e-commerce startup founded by Abdelrahman Galal in 2020, has closed a substantial six-figure USD funding boost from Saudi Arabia’s Value Maker Studio (VMS).

The founder of Awfar, Abdelrahman Galal, confirmed this in a press release seen by Ripples Nigeria on Friday, November 10, 2023

The investment aims to fuel Awfar’s expansion efforts within Saudi Arabia.

Offering a comprehensive suite of integrated technology solutions for retail businesses, Awfar provides cloud-based services, point-of-sale systems, commercial and operational reporting, and delivery management solutions—all consolidated in a unified dashboard.

The platform seamlessly integrates with retail aggregators, third-party logistics providers, and features analytics and marketing capabilities.

With a track record of significantly contributing to business growth in Egypt and the MENA region, Awfar has earned recognition as a go-to solution for retailers aiming to elevate their customer engagement strategies and streamline sales operations.

Value Maker Studio, a Saudi-based venture studio, operates with a mission to bring together diverse talents, resources, and ideas to transform innovative concepts into thriving businesses.

Through its upcoming “Bridge Programme,” scheduled for an early launch next year, VMS aims to facilitate the seamless expansion of Egyptian tech startups into the Saudi market.

Awfar’s funding is part of this initiative, with VMS having previously invested in Egyptian ed-tech startup OBM Education under the same program.

Abdelrahman Galal, the founder of Awfar, expressed the significance of the collaboration, stating, “Our collaboration with Value Maker Studio marks a significant milestone in our journey. VMS’s Bridge Programme has been instrumental in helping us overcome the challenges of entering the Saudi market. In less than a month, we were able to secure contracts and establish partnerships with major chains in Saudi Arabia.”

Trivia Answer: Unmount

Unmounting is the software process of deactivating a disk volume to allow it to be safely disconnected. An unmounted storage disk is still physically connected to a computer and powered on, but the computer cannot read or write data to it. It is the opposite of mounting a disk, which activates the disk volume and makes its contents available to the computer’s operating system

Join the conversation

Opinions

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.

Donate Now