GitOps company, Weaveworks, acquires security startup Magalix. 2 other things and a trivia

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

1. GitOps company, Weaveworks, acquires security startup Magalix

Weaveworks Limited, a GitOps company with headquarters in London and San Francisco, has announced acquiring Egyptian-American cloud security startup Magalix.

Magalix was founded in 2017 by Egyptian-American entrepreneurs Ahmed F. Mohamed and Ahmed Badran.

Although the startup is headquartered in the US, its R&D engineering team is based in Egypt.

The startup claims to have built a platform enabling organisations to embed security and compliance using DevOps methodologies.

The acquiring startup, Weaveworks, is a company founded in 2014 helping teams adopt cloud native computing, managing cloud native infrastructure and applications quickly, reliably, and at scale.

In December 2020, Weaveworks closed a US$36.65 million Series C funding round.

Tech Trivia: Which of the following statements best describes clip art?

A A collection of royalty-free stock photos
B A group of pay-per-use digital photos
C A collection of small drawings
D A group of screenshots saved in different formats

Answer: See end of post

2. Stitch seeks to offer African fintechs chance to connect investors

Stitch, a South African API fintech startup, is seeking to provide an opportunity for fintechs to access global investors, and access support.

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The development comes in partnership with Paystack and other partners as they look to host “startup showcase.”

Live in South Africa and Nigeria, the Stitch API allows developers to connect to their users’ financial accounts.

According to review, the infrastructure allows companies to easily innovate, launch and scale financial products and services.

In addition, Stitch enables fintechs to work with traditional financial institutions in a safer and more compliant way.

3. CompariSure closes $980, 000 Pre-Series A round

CompariSure, South African startup, has closed R15 million ($980 000) in a Pre-Series A round led by local VC.

The round was led by Cape Town based HAVAÍC and saw the participation of 4Di, an independent seed- and early-stage technology venture capital firm.

According to local report, the company is currently exploring growth in sectors beyond financial services and will use the funding to drive the expansion of CompariSure’s footprint in the South African market.

The startup current offers services including call centre automation, sales force management and market research.

Kiara Suttner-Tromp, Principal at HAVAÍC, while commenting on the development, described the startup as one with higher conversation rate.

He said: “HAVAÍC is excited to have led the R15m pre-Series A investment round in CompariSure. Headed up by a strong team of founders, with a product that’s not only achieving significantly higher conversion rates but also more than halving the cost of acquisition, their offering is a key value add to companies selling a product.”

Trivia Answer: Clip Art

Clip art is a collection of pictures or images that can be imported into a document or another program. The images may be either raster graphics or vector graphics. Clip art galleries many contain anywhere from a few images to hundreds of thousands of images.

Clip art is typically organized into categories, such as people, objects, nature, etc., which is especially helpful when browsing through thousands of images. Most clip art images also have keywords associated with them. For example, a picture of a female teacher in a classroom may have the keywords “school,” “teacher,” “woman,” “classroom,” and “students” associated with it. Most clip art programs allow you to search for images based on these keywords.

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