LATEST TECH NEWS: Nigeria to launch mobile COVID-19 testing lab. 4 other things and a trivia you need to know today, April 29, 2020

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

1. Nigeria to launch mobile COVID-19 testing lab

Nigeria’s one-year old e-health startup, 54gene, has partnered First City Monument Bank (FCMB) and the Ogun State Government to pilot its first COVID-19 mobile laboratory. While this is geared towards expanding testing across the country, the e-health startup has noted that this goes in line with its company’s culture, utilising human genetic data from diverse African populations to improve the development, availability and efficacy of medical products that will prove beneficial to Africans and the wider global population.

Recall that the startup recently raised a US$15 million Series A funding round, and had already launched a fund of its own to raise money for COVID-19 mitigation efforts.

Although FCMB and the Ogun State Government are its major partners on this initiative, other partners include: Argentil Capital Partners, Arnergy Solar, Tempohousing and Wild Fusion. According to reports, the first round of testing utilising the mobile laboratory will be carried out in Ogun State over the coming weeks.

2. Google opens videoconferencing tool at zero-cost to compete with Zoom

Internet service company, Google, has opened its professional video conferencing tool Google Meet as a free-for-all service, a development analysts speculated was to compete with Zoom. With the sudden rise in the use of videoconferencing apps following the blow of the pandemic that has grounded workers and business stakeholders in recent months across the globe, this is Google thrusting its foot for a chance into videoconferencing app market to compete Zoom, Facebook and other existing players.

Although, Google Meet has been so far limited to G Suite enterprise customers, reports from Google has noted that, soon, anybody with a Gmail account will be able to use it to talk to up to 100 participants. This development, according to Google, will be available until 30th September, afterwhich, calls will be capped at 60 minutes unless users’ upgrade.

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Tech Trivia:

How much in cash was the first investment received by Google?

A. $100k
B. $200k
C. $500k
D. $1M

Answer: See end of post.

3. Experts project 40% fall in VC investments in 2020

A new report from tech experts has estimated that venture capital (VC) investment in tech startups serving the African market could fall by up to 40% in 2020. Titled: The State of Tech Innovation in Africa; the report using figures from Partech Africa’s recent report on investments in Africa’s tech sector and data from Greentech Capital’s Maxime Bayen, the AfricArena team forecasts that investments in 2020 could drop to between $1.2bn and $1.8bn.

Read also: LATEST TECH NEWS: Nigerian Fintech Okra secures $1M from foreign VC. 4 other things and a trivia you need to know today, April 27, 2020

This becomes a concern as it indicates a setback for the industry. Recall, the tech sector in 2019 had made a giant leap, recording over $2bn. Worst case scenario, however, according to these concerned analysts, would be $1.2bn, that will signal no significant pick up in deals this year. Further more, the best case scenario would be a strong uptake in the fourth quarter, if the pandemic would flat out anytime soon.

4. Egyptian food startup Mumm closes investment deal with Alexandria Angels

Egyptian startup Mumm has raised an undisclosed amount of investment from Alexandria Angels. According to reports, the investment is part of an on-going pre-Series A round that the food technology startup, which is based in Cairo, is raising.

With 5 years invested into the running of the startup, Mumm, founded by Waleed Abd El Rahman, has become an online marketplace to deliver homemade food to home and business customers. Adjoining reports stated that the startup has previously raised a seed investment from A15 in 2016 and $200,000 from 500 Startups in 2017 and 2019.

5. Ford cancels plan for Rivian-powered electric Lincoln SUV due to coronavirus

Ford’s plan to add an all-electric Rivian-powered SUV to its Lincoln model lineup has been canceled due to the coronavirus, the company has announced. The companies made this decision public on Tuesday, April 28, linking the cause to the effect of the pandemic. According to Ford, this electric SUV was supposed to be ready for release by 2022 going by its earlier production timeline.

Although, Lincoln is not giving up completely as it still plans to work with Rivian for a future EV based on Rivian’s skateboard platform. On this development, Lincoln highlighted that its strategic commitment to its company, Rivian, and electrification remains unchanged, and its future plans will include an all-electric vehicle consistent with its Quiet Flight DNA.

Tech Trivia Answer: $100, 000

Andy Bechtolsheim is the first investor in the Google idea. In 1998, he issued the co-founders of Google, Larry Page and Sergey Brin, a cheque of $100,000. Professionally, Andreas Maria Maximilian Bechtolsheim is a German electrical engineer, entrepreneur, investor, and self-made billionaire. He co-founded Sun Microsystems in 1982 and was its chief hardware designer.

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