Ghanaian startup Jetstream raises $3m to expand venture. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Ghanaian startup Jetstream closes $3m to expand venture
Jetstream Africa, a Ghanaian logistics startup, on Thursday, announced closing a US$3 million debt and equity seed funding round.
The raiser comes as the startup looks to support its mission to enable businesses on the continent.
According to the board, the development is expected to see into how the company control its cross-border supply chains.
Three year old Jetstream is a cross-border logistics technology company that develops digital solutions for cargo owners and logistics providers at the continent’s ports and borders.
Speaking on the development, co-founder and chief executive officer (CEO), Miishe Addy, noted that the company is on it way to solve the challenges related to logistics as it leverages technology.
He said: “We are building digital infrastructure that will enable fragmented logistics providers to handle cross-border e-commerce and other time-sensitive physical goods trades quickly.
“Jetstream aims to be to cross-border logistics what Flutterwave is to African fintech today – we’re driving towards an inflection point in the speed and growth of commerce on the continent.”
Tech Trivia: 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. Enygma Ventures invests R4-million into Cape-Town startup, Brown and Ayo
Enygma Ventures has invested a R4-million investment into Cape Town-based black hair care and lifestyle brand, Brown and Ayo.
According to local media, the investment reflected the venture capital firm’s ongoing mission to support women entrepreneurs across the SADC.
Brown and Ayo was founded in 2019, and has been instrumental to the provision of customers with an extensive online marketplace for natural hair extensions.
Today, the company prides itself in bringing innovative and well-loved products to the SA black woman consumer.
READ ALSO: Egyptian startup Minly secures $3.6m seed round. 1 other thing and a trivia
Lelemba Phiri, Operating Partner and Principal of Enygma Ventures expressed excitement over the new investment.
He said: “We are super excited about this investment as natural hairstyles and products are a fast-growing trend in an extremely lucrative industry.
“Brown and Ayo have a proven track record of being steps ahead of the trend, whilst serving a powerfully growing yet often ignored consumer – the black woman.”
3. Egyptian digital car parts marketplace Odiggo expands to UAE
Egyptian startup, Odiggo, has expanded to the United Arab Emirates (UAE).
The startup is a digital marketplace for automotive spare parts.
Last year, the startup clocked up one million users over the course of running for two years.
Odiggo links customers with vendors in order to purchase car parts and accessories.
As a venture, it ensures users get the correct, best quality car parts at a convenient time, by allowing them to simply add their car information and location on Odiggo app and see what services and parts are available in their area.
Having previously launched in Saudi Arabia, it is aiming to become the leading auto-tech company in the Middle East and Africa (MENA) region.
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.
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.
INVESTIGATION: 4 yrs after completion, Kwara PHC facility inactive, rural dwellers in pains
In the middle of the night sometime in September 2019, Fatimah Ballah struggled with severe pains as she tries to...
INVESTIGATION: How Oyo State, contractors spent N1.1bn on water projects, but communities don’t have a drop
Multimillion naira water projects largely initiated by the late Abiola Ajimobi-led state government in Oyo State to benefit over 40...
INVESTIGATION: In Cross River, civil servants retire into poverty as govt looks away, squanders funds on frivolities
Thousands of civil servants in Cross River State struggle to stay alive as they are denied their gratuities and monthly...
Students suffer as contractors abandon Kano school projects after receiving over N70m
In 2019, to improve the condition of public schools in Kano State, the Federal Government disbursed millions of naira to...
SPECIAL REPORT: World Bank road projects go bad in Enugu, as state govt fails to fulfill promise
Counterpart funded road projects between the world Bank and Enugu State government have started to fail, as the state government...