LATEST TECH NEWS: Seven Nigerians among Africa’s business heroes competition finalists. 4 other things and a trivia you need to know today, July 27, 2020

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

1. Seven Nigerians make Africa’s business heroes competition final

Seven Nigerian entrepreneurs have made the shortlist of the Jack Ma sponsored Africa’s business heroes competition. Announcing seven Nigerians amongst its 50 shortlisted finalists, the 2020 edition of the competition aims to reward entrepreneurs of African origin who have demonstrated impressive business understanding and market mastery. According to press, the seven Nigerians shortlisted include Adeyinka Tekenah of Happy Coffee Africa, Chinedu Azodoh of Metro Africa Xpress Inc, Faith Adesemowo of Social Lender, Ifeoluwa Olatayo of Soupah Farm-en-Market Limited, Kehinde Ayanleye of Stutern, Olajide Ayegbusi of Edusko Africa and Oluwasoga Oni of MDaaS Global.

With the announced shortlist, these Nigerians will join others in an exclusive bootcamp that will be hosted Africa’s Business Heroes team on Friday, July 28, 2020. Although the shortlist doesn’t guarantee a winning entrepreneur as the listed business owners will enter into another round of selection to determine the final 20 managers. Speaking on the competitiveness of the listing, the award organisers noted that the award saw about 22,000 applications at launch from over 50 African countries. Considering age distribution and participation, the contest saw an average age of 37 years, with the youngest aged 22 while the oldest 64 years.

2. Kenyan agri-tech venture eyes expansion to Mauritius

Lentera, a Kenyan agri-tech startup which develops climate smart solutions for African farmers, has announced its expansion feat into Mauritius. According to press, the startup closed this milestone via its new partnership deal with the Mauritius Chemical and Fertiliser Industry (MCFI), a fertiliser manufacturer. The 3 year old startup is known to offers precision agriculture services, including farm software, weather sensors, drone and satellite imaging, as well as automated advisory services on market conditions.

Before this partnership, the startup had earlier signed a working capital finance facility with the Kenya Climate Innovation Center (KCIC) to enable it provide climate smart agriculture solutions to more farmers. However, media reports revealed that the startup incorporated this while it sought for equity investment. This partnership will give Lantera’s signed farmers access to weekly crop health satellite images, soil moisture analysis and an on-demand hyper-localised weather forecast service that will be delivered via a mobile application.

Tech Trivia:

Which social media platform is adapted to support job employment facility?

A. Microsoft
B. Facebook
C. LinkedIn
D. Twitter

Answer: See end of post.

3. OpenSpace raises $15.9 million to upgrade service

While working its facility to support the automation of photo documentation on construction sites, OpenSpace, has crossed another funding milestone. The startup announced today that its platform has raised $15.9 million in a series B round of funding led by Menlo Ventures. According to industry reviews, the startup helps construction teams track the progress of building projects through capturing 360-degree photos of construction sites.

READ ALSO: LATEST TECH NEWS: Nigerian HouseAfrica enters partnership to scale. 4 other things and a trivia you need to know today, July 24, 2020

Analysts noted that although the construction sector has never been renowned for efficiency, a new trend through digital technology has been noticed to be playing a pivotal part in getting the $11 trillion industry back on its feet, even during the COVID-19 crisis. Speaking on the challenges brought about by the pandemic, industry experts have stated that construction, as a sector, remained on of the sectors with the hardest hit by the pandemic due to social distancing measures. However, new technology courtesy of AI and remote collaboration tools are making it easier for some projects to resume by helping to reduce the number of people required to be on-site.

4. Tire Agent announces new raiser of $5 million

In a round led by American Family Ventures, Tire Agent, an entrepreneurs roundtable accelerator-backed startup, has raised $5 million. The startup, which looks to bring the tire industry into the 21st century, today made this announcement. According to the startup, the raiser saw the participation of ERA, Sidekick Fund, NY Angels and HBS Angels. Speaking on its startup idea, Tire Agent noted that it aimed at making tire shopping more convenient and accessible to customers, while also making the process more affordable.

According to the startup, it already works with over 50 tire brands to give users a place to browse tires online. Commenting on its uniqueness, it noted that it provides educational easy-to-understand content about these tires to help users understand the difference between brands, models, and get the best value. As an added service, it helps users find an installer near them and shows the cost of installation up front, so there are no surprises or shock upon service completion. Analayts are speculating that the startup will close more partnership deals with time given it unique market.

5. African European Digital Venture Programme invites Ghanaian and Tunisian startups

For an opportunity to offer participants access to know-how and connections in the European market, the African European Digital Venture Programme (AEDV) has opened invitation for Ghanaian and Tunisian startup to apply for its latest edition of the scheme. The programme, according to reports, has a solid backing from Make-IT in Africa, and is aimed at strengthening partnerships between African startups and established European companies and startups.

Reviewers have commented that the programme gives startups the opportunity to get to know the European and German ecosystems in a concrete and practical way. More so, beyond market education, it helps to establish contacts that can be the basis for future business, and to acquire relevant knowledge for this purpose. Speaking on the process, the body has noted that in the first part of the programme, the degree of maturity of the startup in terms of collaboration will be checked, while the second part will be devoted to applying the findings of the first part practically. Generally explaining terms, startups in the programme will acquire knowledge about the German ecosystem and get access to networking and pitching events.

Tech Trivia Answer: LinkedIn

LinkedIn is an American business and employment-oriented online service that operates via websites and mobile apps. Launched on May 5, 2003, it is mainly used for professional networking, including employers posting jobs and job seekers posting their CVs. As of 2015, most of the company’s revenue came from selling access to information about its members to recruiters and sales professionals. Since December 2016 it has been a wholly owned subsidiary of Microsoft.

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