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LATEST TECH NEWS: Zambia’s Good Nature Agro closes $2.1m Series A funding. 2 other things and a trivia you need to know today, October 5, 2020

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4 years ago

October 5, 2020

Ripples Nigeria

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

1. Zambia’s Good Nature Agro closes $2.1m Series A funding

Tech-enabled Zambian company, Good Nature Agro, has closed Series A equity funding worth US$2.1 million. The fund, according to the company, is expected to help accelerate its growth as it works from end-to-end within the specialised legume value chains. The six-year-old company partners with smallholder farmers to improve their productivity through soil-enriching legume farming, and links them to high-value legume markets. The startup uses tech to manage the 5,000 smallholder farmers it works with.

Industry insights revealed that the new raiser was led by Goodwell Investments with participation from existing seed investors Global Partnerships and FINCA Ventures. Further speaking on the development, the board of directors noted that the company will use the funding to accelerate its ability to build up essential value-add processing infrastructure in Central and Eastern Zambia, to accelerate the growth of its full-farm extension services for smallholders, and connect these farmers to large-scale agribusinesses and food processors seeking hassle-free sourcing, as well as to further their seed breeding programme.

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. Jobs4mzansi launches freelance marketplace in S. Africa

Looking to connect skilled professionals with users that need certain tasks completed, South African startup jobs4mzansi has launched a marketplace platform to meet this need. Founded by Siviwe Mgolodela, jobs4mzansi connects South Africans to micro-jobs on a freelance basis, and also offers employed users the chance to start a “side hustle”. Speaking on the worker-hiring ambition, the founder noted that the goal was to “create a simple and safe way to do business online.” He further explained that “The idea in itself is quite simple – the platform connects people who do not have the knowledge, skills or time to perform a particular task to those who are interested in using their knowledge, skills or time to make money online.”

However, the platform also strives to make online transactions as simple and transparent as possible. Since service providers’ prices are fixed, jobs4mzansi functions as an escrow platform, and the website also has a built-in instant messaging system so that users are able to communicate their expectations in a clear and transparent manner before deciding to do business. Explaining the rationale behind operating as an escrow platform, the founder clarified: “I wanted to remove fear and anxiety from online transactions so that clients have peace of mind knowing that should their chosen service provider fail to deliver on time or as promised, they will receive a 100 per cent refund.”

3. Sweden’s Einride secures $10 million to expand portfolio

Sweden-based Einride has recorded yet another milestone as it secured a fresh $10 million. According to press, the new raiser was closed from existing investors. Analysts noted that for the past four years, Swedish startup Einride has captured interest, investment and even a few customer contracts for its unusual-looking pods — electric and autonomous vehicles that are designed to carry freight. Although, the company noted that progress in developing, testing and validating autonomous vehicles — particularly ones that don’t even have space for a driver and rely on teleoperations — is an expensive and time-consuming task.

Industry insights revealed that the announcement comes ahead of a new vehicle the Einride will unveil October 8. Not much is known about the vehicle as Einride has only supplied a short and obscure teaser video. According to Einride, the $10 million in new funding was led by impact fund Norrsken VC and included participation from EQT Ventures fund, Nordic Ninja VC and Ericsson Ventures. Norrsken VC is also joining Einride’s advisory board. The capital will be used to fast track the official launch of its Einride Pods, the company said.

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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