Duolingo adopts AI Tools to cut jobs. 2 other stories and a trivia

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

1. Duolingo adopts AI Tools to cut jobs

Duolingo, an Educational technology App has initiated a workforce reduction, affecting approximately 10% of its contract employees, as part of a strategic shift towards intensified integration of artificial intelligence (AI).

Although not exclusively tied to technological transformations, the language learning company concluded the layoff of certain contractors at the close of 2023.

Ripples Nigeria gathered that the move was to align with its commitment to implementing AI-centric enhancements in content creation and dissemination.

Duolingo clarified that the layoffs spared its full-time staff, as well as making concerted efforts to identify alternative roles for the affected individuals before resorting to the “off-boarding” process.

In the aftermath of the layoffs, Duolingo anticipates an increased reliance on AI for tasks such as sentence generation, compiling acceptable translations, and expediting the correction of user-reported errors.

Trivia: Which of the following organizes applications into a single place for easy access?

A. Launcher
B. Browser
C. Spreadsheet
D. Word processor

See Answer below

2. Egypt’s FriendyM secures $2M investment

FriendyM, the autotech firm based in Egypt, has secured a $2 million investment.

Established in 2016 by Abdelrahman Elgamal, the platform claims to offer a range of car services such as maintenance, expense tracking, and concierge services.

The Founder and CEO, Abdrlrahman Elgamal, confirmed this in a statement seen by Ripples Nigeria on Thursday January 11, 2024.

Currently operational in Saudi Arabia, the UAE, Cairo, and Alexandria, FriendyM plans to utilize the newly acquired funds to expand its services to all governorates across Egypt.

Speaking on the development, the founder expressed his satisfaction, stating: “We are delighted to introduce FriendyM in Egypt. This achievement is a result of our dedicated team’s hard work and commitment to delivering innovation and technology to our customers.

“We aim to leverage the ongoing digital transformation revolution initiated by the Egyptian state to strengthen our presence, meet customer needs, and provide a unique experience.”

3. Seedstars Africa announces $30M for African startups

Seedstars Africa Ventures has announced securing a $30M capital injection from EIB Global, associated with the European Investment Bank.

The raiser, according to analysts, represents a crucial milestone as the venture firm’s inaugural pan-African capital fund receives its first significant institutional investment.

This financial boost follows an $8 million backing from LBO France, the fund’s anchor investor and on track to finalize its fund within an impressive range of $80 million to $100 million.

With a primary focus on supporting seed and Series A startups, the venture aims to provide follow-on funding up to Series B.

Collaborating with Seedstars Group, the VC firm’s partners—Maxime Bouan, Tamim El Zein, and Bruce Nsereko-Lule—leveraged the infrastructure and market access provided by Seedstars to launch this fund.

Speaking on the development, the startup leadership explained that the rationale behind the initiative, stating: “When the team launched in 2020, there was very little capital available beyond acceleration, so there was a clear need to provide more capital at this stage.”

Seedstars Africa Ventures plans to make initial investments ranging from $250,000 to $2 million, with follow-on funding extending up to $5 million, across up to 30 startups.

Trivia Answer: Launcher

A launcher is an application that organizes other applications into a single place for easy access. The term “launcher” is often used to refer specifically to launcher apps on Android devices that replace the default home screen. It may also refer to game launchers that help gamers buy, download, install and launch games.

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