LoftyInc Capital launches 3rd fund to diverse portfolio. 1 other thing and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. LoftyInc Capital launches 3rd fund to diverse portfolio

Leadinf pan-African VC firm, LoftyInc Capital, has announced the launch of its third fund.

Tagged LoftyInc Afropreneurs Fund 3, the VC is set to invest $10 million each in African tech startups merits its criteria.

According to the VC, the new funding comes as investment from its second fund to include FBNQuest Funds, syndicates from The Green Investment Club, HNIs from multinationals like Google, Facebook, and ExxonMobil; and Andela CEO Jeremy Johnson, among others.

Today, the LoftyInc has invested in over 20 startups since it began, cutting across various industries like e-commerce, fintech, healthcare, logistics, and media in different regions within and outside Africa.

Deal books reveal that the company has invested in startups in Francophone Africa such as Afrikrea and Star News Mobile.

Tech Trivia: What tool would you use to reduce the digital image size?
A. Filter
B. Brush
C. Rotate
D. Crop
Answer: See end of post

2. Rwanda’s Viebeg closes pre-seed funding to scale venture

Viebeg, a Rwandan startup, has raised a pre-seed round funding to help it scale.

The startup provides high-quality medical supplies and equipment throughout Central and East Africa through an innovative data-driven procurement platform.

READ ALSO: Healthtech startup launches engagement app for African nurses. 2 other things and a trivia

Viebeg was founded in 2018 by chief executive officer (CEO) Tobias Reiter and chief commercial officer (CCO) Alex Musyoka.

Today, the firm has built a data-driven logistics platform – encompassing shipping, warehousing, last-mile distribution, and inventory management.

Since its launch, Viebag has empowered healthcare facilities to better manage procurement, ensuring that they have the right type and quantities of medical supplies in stock to properly treat patients.

The startup generates average cost savings of 40 per cent for its customers.

Tech Trivia Answer: Crop

As an image reducing tool, cropping is the removal of unwanted outer areas from a photographic or illustrated image.

The process usually consists of the removal of some of the peripheral areas of an image to remove extraneous trash from the picture, to improve its framing, to change the aspect ratio, or to accentuate or isolate the subject matter from its background.

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