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Egypt’s transport startup, Swvl, expands into Turkish market. One 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 transport startup, Swvl, expands into Turkish market.

An Egypt-based transport-tech startup, Swvl, has announced expanding into the Turkish market.

The Chief Financial Officer, Youssef Salem, confirmed the development in a statement seen by Ripples Nigeria on Tuesday.

The expansion followed Swvl acquisition of Volt Lines, a B2B transportation-as-a-service operator that was founded in 2018 by Ali Halabi.

Founded in 2018 by Mostafa Kandil, Ahmed Sabbah, Mahmoud Nouh, Swvl claims to provide shared transportation services for intercity and intracity trips.

Ripples Nigeria gathered that Mostafa was a former Rocket Internet SE executive who also worked with Careem, a company owned by Uber Technologies Inc.

Commenting on the latest expansion, Halabi said:

“We’re also excited about scaling our R&D center in Istanbul into a global technology hub, giving Swvl reliable access to Turkey’s technical talent.”

Tech Trivia: Individual letters, numbers, and symbols are also called what?
A Characters
B Strings
C Pixels
D Bits
Answer see of post

Read also: Singapore’s tele-health startup, Ordinary Folk, raises $5M Pre-Series A

2. Ghana’s agtech startup, Farmerline, secures $12.9M in pre-Series A round

An Accra-based agtech startup, Farmerline, has announced securing a $12.9M equity-debt pre-Series A round.

This announcement was made by cofounder, Alloysius Attah, in a statement made available to local media on Tuesday.

Ripples Nigeria gathered that the $12.9M equity-debt is a $6.4m equity and $6.5m debt.

The equity round was led by Acumen Resilient Agriculture Fund (ARAF) and FMO, with participation from Greater Impact Foundation.

The statement, however revealed that the debt lenders include DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, the Netri Foundation, and Kiva.

Speaking on the raiser and prospect, Attah said the fund will be used to expand its warehouse base and increase its network.

“We plan to use the funding to strengthen our infrastructure, that is warehouses and distribution channels,” he said.

Trivia Answer: Character

A character is any letter, number, space, punctuation mark, or symbol that can be typed on a computer. The word “computer,” for example, consists of eight characters.

The phrase “Hi there.” takes up nine characters. Each character requires one byte of space, so “computer” takes up 8 bytes.

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