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CcHUB launches $15m fund pool to back startups across Nigeria, Kenya. 2 other stories and a trivia



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

1. CcHUB launches $15m fund pool to back startups across Nigeria, Kenya

Co-Creation Hub (CcHUB), the largest innovation hub in Africa, has launched a $15 million accelerator program called ‘The Edtech Fellowship Program’ to develop and fund 72 entrepreneurs in Nigeria and Kenya over the next three years.

This is contained in a statement seen by Ripples Nigeria on Friday.

According to the statement, the accelerator program will boost the effect of edtech businesses across Africa.

It will also support entrepreneurs who are presenting tech solutions to solve learning innovation in a sector of education rife with several problems.

Commenting on the need for the funding, Bosun Tijani, the co-founder, and CEO of CcHUB said:

“It is important that when we build a program that not only finds the smartest people in the startup ecosystem but also connects the startup ecosystem with government authorities, public sectors, schools, and academic institutions so that we can ensure that there’s a clear understanding of how to scale education solutions in the space.”

The fellowship program aims to support entrepreneurs in Nigeria and Kenya, two of the largest edtech marketplaces on the continent.

Tech Trivia: Which protocol allows businesses to share services over the Internet?
Answer: see end of post

2. Estonian startup accelerator to raise $48M

Estonian startup accelerator, Startup Wise Guys, which has initially raised over $26 million (€25M), is looking to raise $48 million (€45 million) to support startups from mostly across Europe and Africa.

Read also:CcHub launches security command centre. 1 other thing and a trivia

Zane Bojāre, head of brand at Startup Wise Guys, confirmed the development in a statement seen by Ripples Nigeria on Friday.

The firm’s recent €25 million fund toward a €45 million request for its accelerator fund guarantees that at least 200 entrepreneurs will benefit according to Bojāre.

Previous accomplishments of Startup Wise Guys include an XR accelerator in Spain and what is said to be the continent’s first B2B digital SaaS program.

“As we have expanded far beyond Estonia’s borders, we felt it was time to update our brand to reflect our international presence and global vision for the future,” said Bojāre.

3. Cargo drone airline company, Dronamics, secures $40M pre-Series A

Bulgarian Cargo drone airline company, Dronamics, has secured $40 million in pre-Series A funding from VCs and Angels.

The London-headquartered company confirmed the investment in a statement on Friday.

Ripples Nigeria gathered that Dronamics has so far raised from Founders Factory, Speedinvest, Eleven Capital, and the Strategic Development Fund (SDF), the investment arm of the Tawazun Council, Abu Dhabi, United Arab Emirates.

The $40 million raised so far is in addition to the €2.5 million ($2.7 million) grant Dronamics received from the European Commission as part of its Accelerator program and the material commitment made by the EIC to contribute another €12.5 million ($13.45 million) to Dronamics’ Series A investment.

Svilen Rangelov, co-Founder and CEO at Dronamics said:

“We’re the size of a delivery van (Renault Kangoo / VW Caddy) and we can cross all of Europe in 12 hours or less at a fraction of the cost of airfreight.

“That means we operate in a space between airfreight and road freight, and by creating a faster, cheaper, greener middle mile, we can help customers achieve tremendous savings.”

Trivia Answer: UDDI

Stands for “Universal Description Discovery and Integration.” UDDI is a protocol that allows businesses to promote, use, and share services over the Internet.

By Kayode Hamsat

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