Crypto startup Amber Group closes $100m funding. 2 other things and a trivia | Ripples Nigeria
Connect with us


Crypto startup Amber Group closes $100m 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. Crypto startup Amber Group closes $100M

Amber Group, a Hong Kong-based cryptocurrency trading startup has closed a $100 million Series B funding round.

This comes as more mainstream venture capital firms race to become crypto investors despite a global dip in the value of Bitcoin.

According to the company, the new funding takes its portfolio to a pre-money valuation of $1 billion.

Speaking on the latest valuation, the board noted that it is over 300% more than that of the company’s Series A closed in 2019, a $28 million round.

The new raiser saw the participation of high-profile financial and VC firms, including China Renaissance, which led the round, and Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures, and Gobi Partners.

The startup was founded by a group of former investment bankers in their twenties to apply machine learning algorithms to quantitative trading.

Tech Trivia: How many iPhones has Apple sold?
A. 100 million
B. 50 million
C. 150 million
D. Over 200 million
Answer: See end of post.

2. US PR firm launches mentorship programme for African female founders

C. Moore Media, a New York-based public relations (PR) company, has launched a mentorship programme for Africa female founder.

Themed: The Future is Female Programme, the initiative is a PR and communications mentorship programme dedicated to the business development needs of African tech female founders.

The programme is expected to provide the underserved market of African female founders of early-stage startups with the PR and communications insights.

Also, it hopes to improve participants on knowledge, and skills needed to gain visibility while growing their business.

Hence, the programme is aimed at African women based on the continent or in the diaspora, launching or growing a tech business for African markets or serving Africans in the diaspora.

The initiative comes as the second edition, and female founders will learn insights into the fundamentals of PR and communications for early-stage tech startups.

READ ALSO: Egyptian ed-tech startup iSchool closes $160k pre-seed funding. 2 other things and a trivia

3. TradeBRICS launches to help buyers source products from African suppliers

South African startup TradeBRICS has announced launching as an e-commerce marketplace where global B2B buyers can source products directly from African suppliers and manufacturers.

TradeBRICS, according to its founder and lead strategist, Shaarad Muharaj, was born after the discovery that there are opportunities in importing directly from foreign manufacturers.

He said: “The lack of demand was due to medium and large corporates importing cheaper goods from Asian countries like China, Vietnam, and Bangladesh.

“There were very similar statistics like this across major African countries who rely on imported goods. We knew that this was the opportunity to create an inclusive, international supply chain for all African businesses to benefit from.”

TradeBRICS entered into the journey in 2018 and got registered later in 2019.

Today, with a 20-strong team, the platform enables African suppliers and manufacturers to find global customers, manage and ship orders, apply for purchase order finance, and accept online and offline payments.

Tech Trivia Answer: Over 200 million

American mobile phone manufacturer, Apple remains one of the leading phone manufacturer and retailer in the world with over 200 million phones sold so far.

According to Piper Jaffray reports on Apple, the phone brand has sold 244.2 million of its brand.

Join the conversation