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LATEST TECH NEWS: OneSpark launches operations after new raiser. 2 other things and a trivia you need to know today, December 1, 2020

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

1. OneSpark launches operations after new raiser

OneSpark, a South African insurtech, has announced launching operations after securing, according to press, a “significant” US dollar funding round to help it scale. The startup provides tech-based insurance products for its main market since its launch last month. According to review, OneSpark is a tech-based, socially responsible insurer that offers world-first products providing better protection for a lower premium. Today, the startup has developed proprietary tech across the business, while leveraging off a number of established SaaS companies to optimise processes.

Although, its current suite of products is relatively “tech light”, its upcoming product launch in February will contain multiple innovations from a tech, AI and machine learning perspective. According to Greg Smith, co-founded OneSpark, the investment would also be used for local and international expansion. He said: “Our first launch of the year focuses on a segment of the population that the traditional insurance industry has neglected and forgotten for decades, the main market.” To this end, OneSpark looks to solve some of the fundamental issues with existing products in the market, such as lack of choice and expensive premiums.


Tech Trivia:

Which tech venture by virtue of service type is odd in the pack?

A. BlueJeans
B. Skype
C. Zoom
D. SoundCloud

Answer: See end of post.


2. AfDB AgriPitch competition unveils winners

The widely contested AfDB AgriPitch competition has unveiled winners for its latest edition. The list featured winning startups from Kenyan, Uganda and Nigeria. Recall that last month, Ripples Nigeria reported that the African Development Bank’s $120,000 AgriPitch competition had made selection of finalists for the AgriPitch competition, revealing that the AfDB received more than 2,500 applications. According to press, the final round saw entrepreneurs pitch their agribusiness proposals online to a panel of experts and investors.

Read also: LATEST TECH NEWS: Kenya’s Amitruck records 300% revenue growth. 2 other things and a trivia you need to know today, November 30, 2020

Following the announcement, winning companies will share US$120,000 in prize money. Nigeria’s Foodlocker won the Mature Startup category. The startup supports smallholder farmers with technologies for the production of foods such as tomatoes and chicken. The Women-empowered Businesses category was closed by Kenya’s Mhogo Foods which won the top prize of US$20,000. The Nigerian startup took home US$40,000 in prize money. Meanwhile, Releaf, another future-thinking startup won the Early Startups category, taking home US$20,000.

3. AfricArena Summit announces winners of 2020 hybrid edition

Leading African tech ecosystem accelerator, AfricArena, has announced winners after hosting its hybrid event to encourage entrepreneurship, innovation, and investment during Covid-19. Although, held virtually, this year’s winners of the hybrid 2020 AfricArean Summit were 20 cutting-edge startups from 18 countries. According to press, the selected winners were awarded $350 000 in combined prize money in the form of cash and AWS credit cards. In addition, a few notable winners also received tickets to Viva Technology, which will take place in Paris in 2021.

In the Future of Africa category, South African tech startup, Kudoti won acclaim and was awarded top slot. However, in an official press release, Christophe Viarnaud, Founder and CEO of AfricArena, expressed satisfaction over the success of putting up the event. He said: “Braving strong economic headwinds and an adverse environment, we are very fortunate to have been able to put together such a high-quality hybrid AfricArena Summit, with possibly our strongest headline of speakers ever, and an incredibly rich selection of startups. We are very grateful to our anchor partners for this. 2020 is the year of accelerated digitalization and we, therefore, could not be more excited about our new contribution to the African ecosystems with AfricArena Wired.”


Tech Trivia Answer: SoundCloud

SoundCloud is odd in the pack. While others are video conferencing apps, SoundCloud is an online audio distribution platform and music sharing website that enables its users to upload, promote, and share audio.

Started in 2007 by Alexander Ljung and Eric Wahlforss, SoundCloud has grown to be one of the largest music streaming services reaching over 175 million monthly users worldwide.

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