Connect with us


Dakar Mobility closes $147m for electric bus project. 2 other stories and a trivia



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

1. Dakar Mobility closes $147m for electric bus project

A Senegalese firm jointly owned by Meridiam and the Sovereign Strategic Investment Fund of Senegal (FONSIS), Dakar Mobility, has announced garnering $147 million for the establishment of Sub-Saharan Africa’s maiden 100% electric Bus Rapid Transit (BRT) system.

The funds, according to the startup, was collaboratively sourced from Proparco, EAIF, PIDG TA, and the European Union (EU).

Given the significance of the milestone, the raiser signifies a substantial stride in the region’s dedication to sustainable urban transportation.

Meanwhile, the Executive Council for Sustainable Urban Transport (CETUD) is at the forefront of this campaign, concentrating on the introduction of a cutting-edge BRT system to counter these challenges.

The BRT network is expected is to link the Petersen bus station in Dakar Plateau to the Guédiawaye prefecture in the northern suburbs, spanning a distance of 18.3 km with 23 stations.

Trivia: Which toggle key automatically capitalizes all typed text?

A. Num Lock

B. Scroll Lock

C. Function Lock

D. Caps Lock

See Answer Below

2. Immensa closes $20m funding to propel expansion

The MENA region’s additive manufacturing startup, Immensa, has closed a $20 million funding round led by Global Ventures, a MENA premier venture capital firm.

CEO Fahmi AlShawwa confirmed this in a press release seen by Ripples Nigeria on Friday, December 1, 2023.

The investment marks a milestone for Immensa, following its $7 million Series A round in 2021.

New contributors to the round include Endeavor Catalyst Fund and EDGO, while existing investors include Energy Capital Group (ECG), Shorooq Partners, and Green Coast Investments.

Speaking on the development, the team noted that the funding infusion is expected to position Immensa to transcend its regional status, emerging as a global solutions provider.

The company’s focus includes the creation of the largest digital warehouse in the energy sector through its proprietary technologies.

The CEO and Founder of Immensa, Fahmi AlShawwa, said: “We reduce the vast unnecessary costs and long lead times of legacy supply chains, and look forward to working closely with our energy sector clients to take this to new levels.”

3. London-based FinTech, Paysend, secures $65m funding round

London-based fintech startup, Paysend, has secured $65 million in a recent funding round, garnering strategic investments from notable brands such as Mastercard and TelevisaUnivision.

The CEO, Ronnie Millar, confirmed this in a press release seen by Ripples Nigeria on Friday, December 1, 2023.

According to the startup, existing investors, including Infravia Growth Capital, One Peak, and Hermes GPE Innovation Fund participated in the round.

In collaboration with Mastercard, Paysend seeks to enhance its cross-border payments network for SMEs through its Open Payments Network.

Founded in April 2017, Paysend boasts a global reach across 180 countries, facilitating online payments and money transfers in any currency.

Trivia Answer: Caps Lock

Caps Lock is a feature on most keyboards that, while enabled, cawpitalizes each letter character typed on the keyboard. It allows you to type as if you were holding down the Shift key, but it only affects letters — numbers and punctuation keys are not affected. Pressing the Caps Lock key on the keyboard toggles it on, and it remains active until you press the Caps Lock key again. Pressing the Shift key while typing a letter allows you to enter a lowercase letter with Caps Lock enabled.

Join the conversation


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

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

10 + 16 =