Ghana’s mPharma acquires large stake in Nigeria’s HealthPlus. 2 other stories and a trivia

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

1. Ghana’s mPharma acquires stake in Nigeria’s HealthPlus

Accra-based health-tech startup, mPharma, has acquired a large stake in Nigeria’s HealthPlus.

Gregory Rockson, the Chief Executive Officer and co-founder of mPharma, confirmed the acquisition in a statement on Friday.

Ripples Nigeria earlier reported that the Ghanaian startup announced its new raiser of $ 17 million two years ago.

The health tech firm helps medicine and inventory manager firms by increasing patients’ access to affordable high-quality medications.

According to the company, the acquisition will help mPharma intensify its commitment to Nigeria.

“We are optimistic about the future of healthcare for Nigerians through the acquisition of HealthPlus,” Rockson said.

Tech Trivia: What is the purpose of MIDI quantization?
A. It compresses MIDI data.
B. It turns MIDI data into digital audio.
C. It aligns MIDI input to specific beats.
D. It transposes MIDI notes to different keys.
Answer: see end of post

2. Egypt’s ECC Group acquires majority stake in Source Beauty

An Egyptian cosmetics company, ECC group, has announced a majority stake acquisition in a beauty products marketplace Source Beauty.

Read also:Nigerian fintech startup, NowNow Digital Systems, secures $13m. 3 other stories and a trivia

Lydia Schoonderbeek, the founder and CEO of Source Beauty made the disclosure in a press statement seen by Ripples Nigeria on Friday.

The female-led beauty product marketplace, Source Beauty was launched in 2018 by Lydia Schoonderbeek.

Source Beauty provides users with multiple choices of local and international beauty brands.

ECC led by Mohamed Salah and Ahmed Abo El Hamail is an Egypt-based specialised contract manufacturer for the cosmetics and personal care industries.

Lydia while commenting on the development said:

“The funds will reinforce an accelerated digital and physical marketing strategy to reach a broader customer base, enhancing customer retention and brand visibility as well as expanding the team.”

3. UAE-based metaverse startup, MetaFi, secures $3 million

A UAE-based metaverse startup MetaFi has secured a $3 million investment to build its first core product.

Matt Danilaitis, Founder of MetaFi, confirmed the new funding in a press release on Friday.

MetaFi said the funding was raised from DoublePeak Group, Maven Capital, OKX Blockdream Ventures, Megala Ventures, Magnus Capital, Legion Ventures, SL2 Capital, X21 Digital, Good Games Guild, MetaGaming Guild, Mintable Go! Fund, with participation from Athena Ventures.

MetaFi claims to provide a full suite of services related to decentralised finance (DeFi) and non-fungible tokens (NFT) across the metaverse, Gamefi, SocialFi, and Web3.

“MetaFi reimagines the trader’s experience: making trading fun, engaging, and social.

“With the Trading World, MetaFi will aggregate major decentralized protocols with deep liquidity, wrapped in a new gamified trading environment, designed to be a seamless onramp for non-crypto audience.

“We are grateful for the support from our strategic partners as we bring Web3 asset trading to the masses,” Danilaitis said.

Trivia Answer: It turns MIDI data into digital audio. Quantization is the process of mapping input to a fixed set of values.

For example, an application may include a quantizing function that rounds a series of floating point numbers to the nearest integer. The result is a reduced data set that contains only integers.

By Kayode Hamsat

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