These latest stories from the tech space will keep you updated with trends today.
1. E-Track accelerator opens call for applications in Cape Town
Sponsored by the University of Cape Town Graduate School of Business, and managed by Solution Space; E-Track accelerator programme has announced opening calls for applications.
The accelerator is designed to help founders validate concepts, develop their products, and scale their ventures.
The Solution Space is an ecosystem for early-stage startups as well as a research and development platform for corporates.
Built, however, in partnership with MTN’s messaging app, ayoba, the E-Track programme is a three-phase venture acceleration programme.
The programme is expected to support individuals and teams to build scalable businesses with a global potential, targeting high-impact individuals, aspiring entrepreneurs, and experienced founders.
Which tech platform’s mission statement is summarised thus: our motivation is addressing the biggest challenges facing information professionals today: discovery and access.
Answer: See end of post.
2. Ugandan energy startup gnuGrid secures $250k funding to further scale
Ugandan energy startup gnuGrid has secured a US$250,000 funding round, a development that will see the company to scale its solution to more customers at home and into additional African markets.
The 3 year old startup was founded by David Opio and James Dailey, building Solar Sentra, with the aim to streamline and automate the highly fragmented solar industry in Uganda and beyond.
The startup leverages AI-optimised sensors to monitor solar systems and collect data on power usage which is used by solar companies to tailor service delivery.
Earlier in 2019, the startup raised US$50,000 to develop its tech engine, pilot, and launch the product into the market.
With the new raiser, the startup will use it to connect off-grid solar companies with Uganda’s Credit Reference Bureau (CRB).
3. South Africa startup MortgageMarket closes $687k to expand operations
MortgageMarket is a customer-centric online platform that harnesses technology and customer service to allow users to compare home loan offers from South Africa’s top six banks within 48 hours.
After about three years since launch, the startup will be embarking on an expansion strategy after securing investment from venture capital firm IDF Capital.
The ZAR10 million raiser comes after MortgageMarket raised ZAR7 million (US$481,000) from its founders and private investors in 2019.
Speaking on the matter, Tim Akinnusi, chief executive officer (CEO) of MortgageMarket, stated that the intention of the company is to use the new fund to strengthen its local operations.
He said: “We will use the funding to strengthen our operations locally, working alongside our partners and SA’s top six banks.”
Tech Trivia Answer: Wikipedia
With the above adapted mission statement, Wikipedia today is the 5th most visited website on the entire internet; has 500 million monthly visitors; records 8000 views per second; has become the #6 top-referrer to all scholarly articles online with millions of citation clicks per month; contains over 29 million citations on the English Wikipedia alone.
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