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Lagos-based startup, Fez Delivery, secures $1M funding. 2 other stories and a trivia



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

1. Lagos-based startup, Fez Delivery, secures $1M funding

Ventures Platform, a pan-African investor, led the $1 million funding round for Fez Delivery, a last-mile logistics firm with locations throughout Nigeria.

Founder and CEO, Seun Alley, confirmed the funding in a statement on Tuesday.

The company said it plans to use the seed investment to deepen its work in Nigeria while it considers expansion into other African markets, including Ghana, Kenya, and South Africa.

The funding also saw participation from Voltron Capital, Acasia Ventures, and other angel investors.

“So I like to refer to Fez as running a hybrid model. We have the technology and still own 30% of the assets on our platform.

“What that does is that if third-party partners don’t show up for any reason, we have backup and can complete our deliveries by ourselves,” the CEO explained of his company.

According to Alley, to help fulfil orders that it is unable to deliver, Fez Delivery recently created a SaaS platform to onboard and authenticate skilled third-party two-wheeler logistics platforms, with fleet sizes of roughly five to ten vehicles.

Tech Trivia: Which of these is an example of a cross-platform file system?
C. ext4
D. exFAT
Answer: see end of post

2. NALA receives a PSP license, set to pursue other opportunities

A Tanzanian fintech company, NALA, has announced receiving a Payment Service Provider (PSP) license from the Central Bank of Tanzania with a commitment to invest $1m to pursue the opportunities available to them.

Read also:Elon Musk in court over Twitter source code breach. 2 other stories and a trivia

The tech company disclosed this on its official Twitter handle seen by Ripples Nigeria on Tuesday.

The fintech company says it’s on a mission to provide fair and transparent financial services to empower people with control over their finances.

“More big news 🗞️

“The Central Bank of Tanzania approved NALA as a Payment Service Provider. 🚀

“With this new license in hand, we are committing to investing $1m to build our most ambitious projects in our home market of Tanzania. 🇹🇿

Check out a few highlights” reads the tweet.

The license is a component of President Samia Suluhu Hassan’s initiatives to empower youth and foster an environment that promotes foreign investment in the nation.

3. Zoom partners OpenAI to generate summaries

Zoom announced Tuesday teaming up with OpenAI to add AI-generated summaries, message drafts, and more to its video conferencing app through its Zoom IQ AI-powered assistant.

Smita Hashim, Chief Product Officer at Zoom confirmed the development in a blogpost on Tuesday.

Ripples Nigeria gathered that this development means deploying a combination of AI models: those it has developed in-house, those developed by leading AI companies such as Open AI, or, for select customers, their models.

“We are excited to bring many more capabilities with new large language models.

“Our unique approach to AI will give customers the flexibility they want and help significantly improve collaboration and customer relations,” said Hashim.

Hashim added that the company plans to introduce AI-powered messages and email drafts on an invitation-only basis in April but will introduce “select” Zoom IQ meeting summary features to a broader audience.

Trivia Answer: exFAT

Windows uses NTFS, macOS uses APFS, and most Unix-like operating systems use the ext4 file system.

Other file systems with cross-platform support, like exFAT and FAT32, are often used on storage devices that transfer files between computers.

By Kayode Hamsat

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