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LATEST TECH NEWS: Kenya’s OkHi raises $1.78m funding from UK angel network. 1 other thing and a trivia you need to know today, September 24, 2020

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

1. Kenya’s OkHi raises $1.78m funding from UK angel network

Kenyan digital strategy startup OkHi has announced raising a GBP1.4 million (US$1.78 million) funding round. The startup, which developed a digital addressing system for emerging markets, noted that the fund was supported by the London-based Angel Investment Network. According to the startup, the new raiser will help expand its team and grow operations in other African countries. Co-founded in 2014 by Timbo Drayson, the founder was a former Google executive who while at Google led the launch of Google Maps across emerging markets and built Chromecast.

The Nairobi-based OkHi primarily focuses on addressing verification for financial services. According to press, the challenge being solved by the startup is an endemic problem that holds back financial inclusion across emerging markets. OkHi is backed by Airbnb co-founder Nate Blecharczyk and Twitter chairman Patrick Pichette, and has so far powered millions of uses of its addressing system, with a recent launch in Nigeria. The startup, also plans to double the size of its team, is also now on what it calls a “clear trajectory” to Series A. “A physical address should be a human right. Whether it’s opening up a bank account or getting an ambulance to your door, every person on this planet deserves access to these services.”

Tech Trivia:

Unlike Vinyl LPs, Compact Disk is …

A. An analogue storage
B. A digital storage
C. An analogue optical storage
D. A cloud storage

Answer: See end of post.

2. MEST invests $700k in 7 graduating tech startups

Seven tech startups have been listed to benefit from the Meltwater Entrepreneurial School of Technology (MEST) US$700,000 investment. The startup are graduates from MEST’s entrepreneurial training programme. Launched in 2008, MEST is a pan-African training programme, seed fund and incubator for technology entrepreneurs in Africa, providing critical skills training in software development, business and communications. Currently headquartered in Accra, Ghana, the organisation runs an annual programme, and then invests in startups formed by its graduates.

Read also: LATEST TECH NEWS: Anzisha Prize shortlists 20 finalists for grant. 2 other things and a trivia you need to know today, September 23, 2020

According to reports, the startups that received funding were food delivery startup Ghanaian Heny, Ghanaian retail-tech platform Shopa, Nigerian e-wallet service Joovlin, Ghanaian cloud-based monitoring and evaluation platform KPI Lens, customer on-boarding platform Kenyan Eleka, delivery service Ghanaian Boxconn, and Ghanaian reselling service Tendo.

MEST spokesperson, Ashwin Ravichandran, who confirmed the development, expressed excitement on the talent pool of the companies. He said: “We are blown away by the perseverance and talent we have seen in our entrepreneurs this year, as it has been a year filled with unexpected twists and turns.”

Tech Trivia Answer: Digital storage

Compact disc is a digital optical disc data storage format that was co-developed by Philips and Sony and released in 1982. The format was originally developed to store and play only sound recordings but was later adapted for storage of data.

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