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Egypt’s Homzmart secures $23m pre-Series B 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. Egypt’s Homzmart secures $23m pre-Series B funding. 1 other story and a trivia

An Egyptian eCommerce platform, Homzmart, has announced securing a $23m pre-Series B investment.

Hozmart, while confirming the new funding in a press release seen by Ripples Nigeria on Wednesday, said that the latest funding round saw participation from STV, Impact46, Outliers Ventures, Rise Capital, and NUWA Capital.

The new funding brings the total funding raised so far to about $40 million.

The fresh fund comes on the heels of Homzmart’s initial US$17 million funding round that was held halfway through 2021.

“We are very proud with what the company has achieved so far, we continue to be laser-focused on Homzmart’s vision of digitising the whole home value-chain, empowering local and regional production capabilities with clear impact on the region’s GDP, especially during the global macroeconomic situation,” said Homzmart’s Co-Founder and CEO Mahmoud Ibrahim.

Ibrahim added that the funding will be used in expanding the company’s regional footprint.

Tech Trivia: Hardware connections are collectively abbreviated with which letters?
Answer: see end of post

Read also:Lagos–based identity verification startup, Youverify, secures $1m seed funding. 2 other stories and a trivia

2. Indian fintech startup, Bluecopa, secures $2.3m funding led by Blume Ventures

An Indian fintech startup has announced securing $2.3m funding led by Blume Ventures to expand its offering in the global market.

Nilotpal Chanda, co-founder, and chief business officer of Bluecopa confirmed the new funding on Wednesday in a press release.

Chanda also confirmed that the funding saw participation from Titan Capital, T-Fund, Special Invest, Bharat Founders Fund, T2D3, Amplify, and Force Ventures.

The Hyderabad-based startup claims to be building a finance operations automation platform for high-volume companies.

Raghavendra Reddy and Satya Prakash Buddhavarapu founded the startup with Nilotpal Chanda in 2021.

Chanda while explaining how Blucopa works said:

“It’s a layer that connects to all these tools in the organization, fetches data, cleans, consolidates, normalizes, and then provides all that information in a very human consumable format.”

Trivia Answer: I/O

I/O stands for “Input/Output” and is pronounced simply “eye-oh.” Computers are based on the fundamental idea that every input results in an output.

For example, if you are running a word processor program and type a sentence on your keyboard, the text will appear on the screen.

By Kayode Hamsat

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