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Jordan’s Capifly secures $1M Pre-Seed Funding. 3 other stories and a trivia

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7 months ago

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This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Jordan’s Capifly secures $1M Pre-Seed Funding
Jordan-based fintech, Capifly, has announced securing a $1 million pre-Seed funding round.
The round, according to the startup, comes from a consortium of investors, including Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech, and various angel investors hailing from Jordan and KSA.
Founded in 2021 by Dunya Bashiti and Ahmed Jaradat, Capifly provides non-dilutive Sharia-compliant venture debt to fuel the growth of startups.
Building on the significant investment, Capifly is gearing up to establish a substantial $10 million non-dilutive capital facility, to reflect the strong confidence the market has in their vision.
Capifly’s journey has been made possible through the unwavering belief and support of early investors, such as Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech, and dedicated angel investors from Jordan and KSA.
With non-dilutive capital from entities like Capifly entering the scene, the market’s growth could be even more rapid and exciting.
Tech Trivia: What type of peripheral connects to a computer using an HDMI interface?
A. Input device
B. External storage disk
C. Monitor
D. Webcam
Answer: see end of post
2. Senegal’s Lengo AI secures Pre-Seed investment for retail revolution
Lengo AI, a Senegalese software-as-a-service (SaaS) startup, has announced closing a Pre-Seed investment round led by Acasia Ventures, an Egypt-based venture capital firm.
Joining in this funding round are prominent investors including Ventures Platform, P1 Ventures, Launch Africa, Voltron Capital, and a group of individual angel investors.
The capital infusion from this investment is poised to play a pivotal role in Lengo AI’s strategic expansion.
According to the team, the funding will empower the company to bolster its technology and sales teams, enhance the artificial intelligence (AI) capabilities of its product, and facilitate its entry into untapped markets across Africa.
Founded in 2022 by Max Smith, Roger Xavier Macia, and Ismaila Seck, Lengo AI stands as a pioneering data-driven operating system tailored for Africa’s informal retail sector.
Operating from Dakar, Senegal, Lengo AI places its primary focus on empowering FMCG brands with real-time performance data on product sales, benefiting both retailers and FMCG companies.
3. Tanzania’s Bizzyn expands to Kenya, Malawi
Tanzanian-based business management startup, Bizzyn, has made entry into new markets including Kenya and Malawi.
The move comes as the startup continues to push its mission to provide cloud-based financial management software tailored to the needs of small and medium-sized businesses (SMBs) across Africa.
Founded by Emmanuel Kimaro and Abbas Mussa, Bizzyn addresses a crucial gap in the market.
Speaking on the development, Kimaro emphasized that many existing solutions were either too complex, expensive, or failed to meet the region’s specific financial regulations and requirements.
Kimaro noted that the startup’s progress has been “encouraging,” with growing adoption among African SMBs seeking a cost-effective and user-friendly solution for their financial management needs.
Bizzyn operates on a subscription-based pricing model, offering different tiers to accommodate the diverse requirements of SMBs.
4. Amazon Web Services (AWS) to establish development center in Nairobi
Amazon Web Services (AWS), the renowned cloud-computing division of the global tech giant, has unveiled plans to create a development center in Nairobi.
This significant move is set to generate a host of job opportunities in various tech fields, including software development, cloud support, and software engineering.
The new facility will boast the presence of global tech giants and nurtures a thriving ecosystem of innovative startups.
Uwem Ukpong, the Vice President of Global Services at AWS, stated that the “center will provide the local market with access to an exceptional pool of technical talent.”
As the world’s leading provider of cloud computing services, AWS serves renowned companies like Netflix, General Electric, and Sony, offering vital solutions in storage, networking, and remote security.
Kenya’s President, William Ruto, underlined the significance of this development, stating, “The Kenyan technology sector continues to foster growth and job creation, particularly during these uncertain times.”
Trivia Answer: Monitor
HDMI stands for “High-Definition Multimedia Interface.” HDMI is a trademark and brand name for a digital interface used to transmit audio and video data in a single cable.
It is supported by modern audio/video equipment, such as 4K televisions, HDTVs, audio receivers, DVD and Blu-ray players, cable boxes, and video game consoles.

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