Ghana’s Kofa partners Chinese bike manufacturer. 2 other stories and a trivia

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

Ghana’s Kofa partners Chinese bike manufacturer

A Ghanaian battery network solutions company, Kofa, has announced partnering with TAILG Group, a Chinese electric vehicle manufacturer, to launch the Jidi electric motorcycle.

Erik Nygard, CEO of Kofa, confirmed the development in a press release announcing the partnership, and prospect for both companies.

The Jidi motorcycle line of production is equipped with a battery swap technology that signifies a significant step toward enhancing electric mobility in Africa.

According to the CEO, the collaboration between Kofa and TAILG sets an ambitious goal of deploying 200,000 electric vehicles and over 5,000 battery swap stations across Africa by 2030.

Jidi motorcycle will capitalize on the advantages of Kofa’s batteries and battery swap networks to reduce rider costs by up to 30 percent.

Through the partnership, Kofa’s swap network will rapidly expand in Ghana, with plans to invest in and construct swap infrastructure in multiple new countries by 2024.

Speaking on the development, Erik Nygard, emphasized the potential to expedite electric vehicle adoption throughout Africa and combat urban pollution.

Trivia: A WLAN has what advantage over a normal LAN?

A. It requires new devices be approved by a network administrator
B. It does not require centralized infrastructure like routers
C. It connects LANs from multiple locations together
D. It allows devices to connect wirelessly over Wi-Fi
Find answer below

AAIC Investment expands health-focused fund to reach $87m

A Japan-focused equity company,
AAIC Investment, has secured additional backing for Africa Healthcare Fund 2 (AHF2), bringing total funds managed to $87 million.

Established in 2013, AAIC Investment has actively engaged in the corporate venture capital (CVC) sphere, extending its support to Japanese corporate ventures in 2014.

In 2017, it achieved a significant milestone by inaugurating the Africa Healthcare Fund 1 (AHF1), marking the first Japan-focused fund dedicated to the African continent.

Hiroki Ishida, Director at AAIC’s Kenya office, acknowledged the persistent fundraising challenges faced by startups and venture capital endeavors.

He noted that the second close of Fund II marked a significant accomplishment for AAIC, reflecting the enduring enthusiasm in Japan to invest in Africa.

The increased involvement of corporate entities, such as the LP (Limited Partner) in this instance, is anticipated to stimulate growth in exit opportunities, addressing a notable challenge for the African venture capital sector.

Nomad Homes raises $20m Series A extension round

UAE-based proptech startup, Nomad Homes, has raised $20 million in Series A extension round, led by Acrew Capital.

Helen Chen, CEO of Nomad Homes, confirmed the development in a statement detailing the magnitude of the investment.

Ripples Nigeria gathered that Acrew Capital’s portfolio includes investments in notable companies like Chime, Coinbase, Gusto, and Cato Networks, among others.

Nomad Homes serves as a software-enabled marketplace that facilitates residential real estate transactions across Europe and the Middle East (EMEA).

Currently operational in France, Spain, Portugal, and the UAE, Nomad Homes has witnessed an impressive growth rate, surpassing its previous fundraising achievements by over 24 times.

The injected capital is expected to be channeled into sustaining its growth trajectory, enhancing the development of its AI-driven co-pilot for buyers, and introducing Nomad Homes Private Client.

Meanwhile, Helen Chen, CEO of Nomad Homes, advocated for equitable expert representation for buyers and sellers, emphasizing the inherent fairness of this approach.

Trivia Answer: It allows devices to connect wirelessly over Wi-Fi.

WLAN Stands for “Wireless Local Area Network.” A WLAN, or wireless LAN, is a network that allows devices to connect and communicate wirelessly. Unlike a traditional wired LAN, in which devices communicate over Ethernet cables, devices on a WLAN communicate via Wi-Fi.

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