This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Egyptian startup Nawy closes 7-figure seed round
Cairo-based prop-tech startup, Nawy, has announced closing a seven-figure seed funding round to bolster its technology.
The startup was founded in 2016 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy.
According to local media houses, the startup will use the fund to finance its plans to diversify its services, and expand its team to serve more areas across Egypt.
Launched four years ago, Nawy allows users to browse houses online using customisable criteria such as unit space, price and location.
The startup claims to have helped over 30,000 individuals find their properties so far, and has seen 300 per cent growth in 2021.
Which of the following ecommerce solutions was built by Nigerians?
Answer: See end of post
2. Edtech Go1 closes $200M to become unicorn
Leading corporate edtech startup, Go1, has closed a $200-million Series D funding round to finish as a unicorn.
Skyrocketing the company into unicorn status, the new raiser brings its valuation to over $1 billion.
Founded by SA entrepreneur Melvyn Lubego and Australian national Andrew Barnes in 2015, the edtech platform collates existing learning material from leading global educational institutions into a central digital library, making corporate training simple for employees and employers.
Newly-established VC SoftBank Vision2 led the round, and was supported by Airtree Ventures, Salesforce Ventures, Blue Cloud Ventures, Larsen Ventures, TEN13, and Tiger Global.
Speaking on the development, Co-founder and Director Lubego, expressed his excitement over the turn of event.
He said: “It’s crazy to think how far we’ve come, but our North Star has remained the same, which is that we exist to unlock positive potential in people through a love for learning.
“ I think that, ultimately, this raise validates the size of the problem we’re trying to solve and the size of the opportunity to address that problem.”
3. Egyptian Swvl set to go public at $1.5bn valuation after merger
Egypt-founded ride-sharing startup Swvl is set for an initial public offering (IPO) on the Nasdaq exchange after a merger.
The merger involved the startup and a special purpose acquisition company (SPAC) that values it at US$1.5 billion.
Described as a rare African “unicorn”, the startup was founded by Mostafa Kandil in 2017.
Being a mass-transit system, the startup enables riders heading in the same direction to share a ride in a van or bus.
The startup’s proprietary mobility solutions are helping to solve mass transit supply and demand challenges in emerging markets, empowering underserved communities with transportation solutions that are reliable, convenient, safe, and affordable.
The startup is among the best-funded in Africa, with an estimated US$170 million raised including a US$42 million Series B-2 round in 2019.
Tech Trivia Answer: Listbuy
Listbuy is a social commerce platform, built by Nigerian techprenuers, that enables small businesses and individuals create and share their online stores, accept payment and allow users ship products to their customers seamlessly, and on the go.
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.
FEATURES: Rise in Monkeypox infection troubling Nigeria’s rural population
In this features, KELECHUKWU IRUOMA goes into the rural communities of Bayelsa State, south-south Nigeria to uncover the plight of...
SPECIAL REPORT: Kwara communities groan as erosion washes away roads, property
For a number of years communities in Ilorin South LGA of Kwara State have had to live with the menace...
SPECIAL REPORT: Lack of legal provisions, cultural sentiments fueling marital r*pe in Nigeria
By Arinze Chijioke In the early days of Sandra Izuckukwu’s marriage in 2019, her husband, Sunday Izuchukwu, did everything she...
INVESTIGATION… LIVES ON THE LINE (IV): Surviving in a dangerous media environment
This investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019 and 2020. For six...
INVESTIGATION… LIVES ON THE LINE (III): Precious Owolabi was killed covering a protest
This investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019-2020. For six months, Nigerian...