LATEST TECH NEWS: 5 things you need to know today, April 3, 2020

These 5 latest stories from the tech space will keep you updated with trends today.

1. East African ecommerce website Kasha secures $1m from Finnfund

East African ecommerce site, Kasha, has secured $1m from Finnish development financier Finnfund, an investment that aimed at improving women’s access to health, hygiene and self-care products in East Africa. The 4 year old ecommerce, which was founded in Rwanda by two former Microsoft employees, Joanna Bichsel and Amanda Arch, has been recording significant milestone since 2016 when it launched.

Expanding to Kenya and attracting foreign investments are defining the progress thus far for Kasha. Today, the company sells menstrual care products, contraceptives, pharmaceuticals and a range of beauty products via its own platform. As a tech-first startup, it’s goods are accessible through basic phones and a website. As the pandemic persists, however, Kasha noted that it is preparing for an active role in protecting people from the virus by “serving as a safe way to get hand sanitisers, antibacterial soaps, masks, gloves and eventually Covid-19 diagnostic rapid tests.”

2. AWIEF partners UM6P to launch female-focused LeadTech incubation programme

To launch a female-focus incubation programme, the LeadTech Incubation Programme, the Africa Women Innovation and Entrepreneurship Forum (AWIEF) has partnered Morocco’s Mohammed VI Polytechnic University (UM6P) to support female entrepreneurs and scale businesses. According to the partners, the LeadTech is an intensive six-month incubation programme dedicated to early stage women-owned and women-led tech startups, aimed at strengthening the presence of African women in the technology sector by supporting 15 promising and innovative tech startups.

AWIEF further revealed that selected participants from different African countries will have the opportunity to learn from an academic environment surrounded by a mature corporate ecosystem composed of industry leaders for their guidance. A statement from Irene Ochem, founder and chief executive officer (CEO) of AWIEF, stated: “We are extremely excited and proud to work with UM6P to map the path for women empowerment in the technology sector in Africa. With LeadTech, we will build a pan-African network of female tech leaders who will serve as role models and demystify the notion that women are not as capable for leadership in technology.”

3. Nigeria’s eduTech Gradely secures Microtraction funding

Nigerian AI-based startup, Gradely, has raised a seed funding round from Microtraction to fund it through its early growth phase. With this financial commitment from the VC platform, Gradely goes on to join other Microtraction portfolio companies from Nigeria like Accounteer, Riby, Thank U Cash, CowryWise, Wallet.ng among others. As Gradely continues to provide an adaptive learning platform that allows early identification of learning gaps, the fund is expected to help Gradely scale into a competitive startup.

Read also: LATEST TECH NEWS: 5 things you need to know today, April 2, 2020

With a model designed to deploy personalised homework as well as other periodic tests taken by kids, teachers, and parents, Gradely, recalls that it was inspired by the poor result recorded annually in WASSCE by students across states. According to Microtraction, while highlighting the nexus of Gradely, its new portfolio startup, Gradely is on a mission to better the in the education space by “addressing this problem by helping parents and teachers get a hang of these issues early in the student’s journey, reduce reliance on the government’s funding of the sector and prevent repeat mass failures.”

4. Lunar secures additional €20M in Series B led by Seed Capital

Lunar, the Nordic challenger bank, has extended it Series B round with an additional €20 million in funding. Although Lunar started out as a personal finance manager app (PFM), after significantly growing its portfolio, it has gone ahead to acquire a full banking license in 2019. This new fund brings the Series B total to €46 million, having disclosed €26 million in August 2019.

According to reports, the Series B extension is led by Seed Capital, with participation from Greyhound, Socii, and Augustinus. In a bid to structurally shape the company, the mobile-only bank is adding Monzo’s former head of product, Ole Mahrt, to the company’s board of directors. Following the acquisition of a banking license, Lunar recently launched its new bank in March, and already has over 120 employees across its service network.

5. Aella partners Hygeia to deliver health insurance

Fintech player Aella has reportedly partnered with health insurance company Hygeia HMO, to serve financially excluded populations in West Africa and other emerging markets. The development, which is bolstered by a $10M funding round, will see these partners working on improving the health ecosystem. While AellaCare will continue to offer a comprehensive and accessible micro-health insurance service, the partnership will go a long way to tackle financial challenges.

Aella will provide affordable health insurance coverage for as low as N2,000 ($5) per month. According to Aella, “with the financial barrier reduced, people can now seek and receive much-needed health services such as; General Consultations, Pharmacy Benefits, Ante-Natal Care & Delivery services, Accidents and Emergencies, Surgeries, Outpatient and Specialist Consultations, HIV/AIDS Care and Treatment, Dental Care, Prescription Glasses, Family Planning Services among others.” The partnership is also expected to give Hygeia HMO a unique opportunity to reach millions of Africans that are currently outside the healthcare envelope.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now