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Big Cabal Media closes $2.3M seed funding. 2 other things and a trivia

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

1. Big Cabal Media closes $2.3M seed funding

Nigeria-based media company, Big Cabal Media, has closed a $2.3 million seed funding.

Big Cabal Media, which is the parent company of both TechCabal and Zikoko, noted that the fund was raised to lead its efforts in expanding its audience and building new verticals.

Bringing its total funding to over $2.9 million, the raiser followed a $620,000 angel and pre-seed round BCM raised between 2016 and 2020.

On investors, the Nigerian media firm revealed that the latest raiser was led by MaC Venture Capital, and saw the participation of VC firms such as Luminate, Unicorn Group, Future Africa, amongst others.

The 9 year old startup was founded by Seyi Taylor and Bankole Oluwafemi with interest to serve stakeholders in the tech space through TechCabal, and the young people via Zikoko.

Tech Trivia: Which service is not owned and operated by Meta Platforms?
A Facebook
B WhatsApp
C Instagram
D Nextdoor
Answer: See end of post

2. Kenya’s Sokowatch banks $125m Series B, rebrands to Wasoko

Sokowatch, a Kenyan startup that now wants to do business with a new name Wasoko, has banked a US$125 million Series B equity round.

READ ALSO: Nigeria’s edtech startup, Edukoya, secures $3.5m pre-seed round. 2 other things and a trivia

The startup is an e-commerce company leveraging technology to transform the informal retail supply chain.

The rebranding and raiser followed its debut in West Africa, six years after its launch in East Africa.

The startup claims to provide free same-day delivery of essential goods and financing to informal retail stores across Africa.

In addition, the platform enables retailers to order products at any time via SMS or mobile app and receive delivery through its proprietary logistics network to their store.

According to Wasoko (Sokowatch’s new name) the round was led by Tiger Global, the world’s largest venture capital firm, and Avenir Growth Capital.

3. $67k pitching contest: Engen announces call for applications

Engen, leading South African petroleum company has opened applications for its Pitch & Polish pitching competition.

The contest will see 16 entrepreneurs compete for a first prize worth ZAR1 million (US$67,000).

The competition, which started 12 years ago, gives entrepreneurs from across South Africa with a registered business an opportunity to win reward capital towards scaling up.

Last year, the event was conducted virtually given the impact of the pandemic, and saw Cape-Town-based business partners Pieter du Plessis and Viljoen de Kock, owners of GUDGU, walk away with the first prize.

Eugen has noted that the competition will again be conducted virtually, and will offer contestants access to a structured learning programme and their own business mentors.

Meanwhile, during the programme, participating entrepreneurs will be supported as they hone and improve their pitches.

Trivia Answer: Nextdoor

Nextdoor is a social media platform that connects neighbors. It provides a way for people who live in the same local area to interact and communicate online.

While services like Facebook and Instagram allow users to build a network of friends and followers, Nextdoor automatically connects people by physical proximity. Users can see posts from anyone in their neighborhood or surrounding area, providing an open forum for neighbors.

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