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LATEST TECH NEWS: Ghana’s AgroCenta closes $790k pre-Series A funding. 2 other things and a trivia you need to know today, February 4, 2021



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

1. Ghana’s AgroCenta closes $790k pre-Series A funding

Ghanaian agro-tech startup, AgroCenta, has announced closing a US$790,000 pre-Series A funding to scale its venture.

The fund, which is expect to support it agri-tech ecosystem, will also serve to purchase crops from smallholder farmers.

The 5 year old startup runs a mobile merchant platform, providing market information, storage and delivery solutions as well as financial services to smallholder farmers in Ghana.

Press noted that the startup has recorded significant growth since its launch, growing a database of registered farmers on its app, CropChain, from 3,000 to over 46,000.

Earlier, the startup was a winner of the Seedstars World competition back in 2018. The newly closed US$790,000 pre-Series A investment was led by Shell Foundation, FCDO, AV Ventures and Rabo Foundation.

Tech Trivia:

Which billionaire takes a nickname after I/T giant Oracle?

A. Mark Zuckerberg
B. Jack Ma
C. Warren Buffett
D. Jack Dorsey

Answer: See end of post.

2. UK-Nigeria Tech Hub launches COVID-19 startup accelerator programme

In a partnership deal with Ventures Platform and Startupbootcamp AfriTech, the UK-Nigeria Tech Hub has launched the new iNOVO accelerator.

The accelerator, which seeks innovative ed-tech, agri-tech and e-health startups, hopes to invest in disruptive businesses solving challenges arising from the COVID-19 pandemic.

According to press, the fully digital programme will leverage Startupbootcamp’s methodology through a two-pronged approach of accelerating 10 early-stage startups in Nigeria.

READ ALSO: ARM, Ventures Platform to invest $20, 000 in fintech startups

Reports further noted that the three-month programme will see 10 selected startups receive capacity building, lean startup training, mentorship, and support to rapidly scale their products and business models.

Also, the programme is expected to provide a great opportunity for founders to perfect their pitching skills by exposing them to a broad audience of investors, corporate and government partners at the online demo day.

3. FirstCheck seeks to invest $25k in early-stage startups

FirstCheck Africa, a female-focused angel fund, has launched to invest up to US$25,000 in women with bold entrepreneurial ideas.

FirstCheck, through the development, is on a mission to advance equity, capital and leadership for a generation of women in Africa through technology and entrepreneurship.

According to press, the new initiative was launched by Endeavor Nigeria managing director Eloho Omame and PiggyVest co-founder Odunayo Eweniyi.

Commenting on the development, the duo in a public statement stated that the funding platform will invest up to $25,000 in “ridiculously early” startups, as it works on developing the middle tier of female angel investors.

They added that their decision to do this was influenced by the will to build a community of millennials and mid-career women that want to learn about tech and angel investing.

They said: “We want to make it easier for women in Africa to raise venture-backed capital and invest in technology startups. We’re creating a future where women have an equal hand in leading and shaping the continent’s future through technology & entrepreneurship.”

Tech Trivia Answer: Warren Buffett

Living and working in Omaha, Nebraska, Buffett was nicknamed the “Oracle or Oracle of Omaha” due to his investment selections. Warren Edward Buffett is an American investor, business tycoon, and philanthropist, who is the chairman and CEO of Berkshire Hathaway.

He is considered one of the most successful investors in the world and has a net worth of US$71.8 billion as of July 2020, making him the fourth-wealthiest person in the world.

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