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LATEST TECH NEWS: 5 things you need to know today, March 11, 2020



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

1. Egyptian fintech Khazna raises undisclosed seed funding led by Egyptian Algebra Ventures

Egyptian fintech Khazna has raised seed funding in a round led by leading Egyptian venture capital (VC) fund Algebra Ventures. While there are speculations that the sum is a huge financial backing from the VC firm, 1 year old Khazna has maintained not to disclose the amount of the VC commitment.

Aside from Algebra Venture, the Accion Venture Lab through its Accion’s seed-stage fund also participated in the round. Like South Africa, Nigeria and Rwanda, analysts are beginning to track startup growth in Egypt with recent developments, spotlighting the country as another tech den in Africa.

2. Orange Social Venture Prize to stake €80,000 on social technological projects in Africa and Middle East

French telecommunications company, Orange, has announced a total of €80,000 in prize money for African innovators who have developed solutions tailored towards transforming the continent. The prize opened on Monday, March 9 and will close in the first week of June 2020.

This year, Orange team is searching the continent for technological projects that have the potential to make positive impacts on improving life for those in Africa and the Middle East — in areas such as education, health care, agriculture, mobile payments or sustainable development.

3. Nigeria’s Youverify lands $1.5m seed round investment led by Orange Digital Ventures

Lagos-based identification verification startup, Youverify, helping users to automate due diligence and compliance by using data-driven decisions for the financial services, on Tuesday, March 10, announced raising $1.5m seed round of equity financing.

The development has listed YouVerify as one of Orange Digital Venture portfolio companies. The data-tastic startup as also leapt to join Andela and Flutterwave to share VC support from Loftyinc, another West African early-stage funding group.

Read also: LATEST TECH NEWS: 5 things you need to know today, March 10, 2020

4. Tesla is considering capital city of Tennessee Nashville as new gigafactory

Automobile giant, Tesla, is in talks with Nashville officials to locate a factory in the capital city as it looks at commencing the manufacturing of electric Cybertruck and Model Y crossover. Tesla’s CEO, Elon Musk, who revealed this via a tweet on Tuesday, noted that the company in its bid to venture into century latest electric motors is “scouting” locations to build a new U.S. gigafactory.

According to the CEO, the plan is to venture aggressively to launch into the production of the Cybertruck and Model Y crossover. Should plans pull through, Nashville, the capital city of America’s State of Tennessee will welcome the Tesla team as it thrusts its foot into electric automobile production.

5. Google bows to Covid-19 threat, extends its work-from-home policy to employees in North America

Multinational web service company, Google, has Tuesday, March 10, written to its employees in North America to keep safe by working remotely from their homes given the increasing spread of the coronavirus across the global.

This development by Google comes on the heels of a similar directive that was earlier released last week, recommending that its Washington-based staff stay home to perform tasks. The management has noted that it is doing its best to protect its workforce while health practitioners (worldwide) find a lasting solution to contain the virus.

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