Egyptian e-commerce marketplace, The Fashion Kingdom, secures $2.6m seed funding. 1 other story and a trivia.

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

1. Egyptian e-commerce marketplace, The Fashion Kingdom, secures $2.6m seed funding

An Egyptian fashion e-commerce marketplace, The Fashion Kingdom (TFK), has on Tuesday announced securing $2.6 million in seed funding led by CVentures.

Fadi Antaki, co-founder and CEO of TFK, while confirming the new fund in a media release said that an early-stage VC in the MENA region, A15, also participated.

According to the statement, other investors in the round include Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures, The Cairo Angels, and fashion industry veterans such as Paul Antaki and Nasser Chourbag.

TFK is an e-commerce marketplace that deals with a range of products–shoes, beauty products, personal care, accessories, home fashion, etc.–that cater to different demographics.

Fadi Antaki co-founded the company in January 2020 with Marianne Simaika and Karim Abd El Kader.

“We have two main differentiators. One is the omnichannel experience.

“The second is not only being a reseller but rather being a partner to brands and helping them become sustainable and even grow their business through our platform and other services that we can provide,” Antaki said while describing his company’s business model.

TFK also said that it will use the investment to accelerate its growth and expand its technological infrastructure.

Tech Trivia: Which of the following statements about a MANET network is true?
A. It can configure itself on the fly.
B. It is comprised of 100% Ethernet connections.
C. It only supports desktop and laptop computers.
D. It transfers data using AES encryption.
Answer: see end of post

Read also:African startups to benefit from Seedstars’ $20m investment. 2 other stories and a trivia

2. Nigerian MedTech startup, Ubenwa Health, secures $2.5M to diagnose cries of infants

A Canada-based Medtech startup, Ubenwa Health has announced securing $2.5M to help diagnose and understand infant’s cry.

CEO and Co-founder of Ubenwa, Charles Onu, in a media statement on Tuesday confirmed that the funding would be used to expand research and development.

He further noted that his startup is in close collaboration with Mila, and six hospitals in three countries, including Montreal Children’s Hospital, Enugu State University Teaching Hospital in Nigeria, Rivers State Teaching Hospital in Nigeria, and Santa Casa de Misericordia in Brazil.

The Montréal-based MedTech startup claims to be using AI to build the future of automated sound-based medical diagnostics.

Charles Onu, Innocent Udeogu, and Samantha Latremouille founded the Medtech startup in 2017, headquartered in Canada.

“Ubenwa is building a diagnostic tool that understands when a baby’s cry is actually a cry for medical attention,” Charles said while stating the reason for establishing the startup.

He added that “Ultimately, our goal is to be a translator for baby cry sounds, providing a non-invasive way to monitor medical conditions everywhere you find a baby: delivery rooms, neonatal and paediatric intensive care units, nurseries, and in the home.”

Trivia Answer: It can configure itself on the fly

MANET stands for “Mobile Ad Hoc Network.” A MANET is a type of ad hoc network that can change locations and configure itself on the fly.

Because MANETS are mobile, they use wireless connections to connect to various networks.

By Kayode Hamsat

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