Moroccan prop-tech firm, Mubawab, raises $10m funding. 2 other things and a trivia | Ripples Nigeria
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Moroccan prop-tech firm, Mubawab, raises $10m funding. 2 other things and a trivia



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

1. Moroccan prop-tech company Mubawab raises $10m funding

Mubawab, a Morocco-based real estate portal, has announced raising a US$10 million cash injection.

The startup, which hopes to use the fund to accelerate its expansion in the Maghreb region, hinted on further plans to allot a percentage to develop its technology.

The startup was founded 10 years ago by the current chief executive officer (CEO) Kevin Gormand.

According to the vision, the ambition was to manage a startup that allows sellers and landlords to advertise their properties in Morocco and Tunisia.

Today, the web portal has two million visits per month with about 150,000 properties listed.

Earlier in January 2020, the company secured US$7 million in funding from the UAE-based real estate-focused firm Emerging Markets Property Group (EMPG).

The new US$10 million funding comes from the same source as it looks to speed its growth.

Tech Trivia:

Who invented the radio?

A. Guglielmo Marconi
B. Thomas Edison
C. Charles Babbage
D. Lady Ada Lovelace

Answer: See end of post.

2. Investment and advisory firm HAVAÍC launches new fund

HAVAÍC, a South Africa-based VC has launched a new fund as it looks to expand it’s size being an Africa-focused venture capital (VC) firm.

According to the VC, the new fund had also achieved its second phase where it sought to invest in early stage startups.

HAVAÍC, which is an investment and advisory firm, specialises in investing and supporting early-stage, high-growth post-revenue African businesses driven by technology with global prospects.

Read also: LATEST TECH NEWS: S. African entrepreneur Nic Haralambous launches fund to support small businesses. 2 other things and a trivia you need to know today, February 5, 2021

Industry insights further revealed that the startup provides corporate advisory and capital raising services to its portfolio companies as well as emerging, internationally scalable businesses.

Speaking on the development, the board noted that the Universum Core African Fund has now achieved its second close, a product of a joint venture (JV) between HAVAÍC and Universum Wealth, an international investment management firm.

3. S. Africa’s logistics startup Pargo goes green with new innovation

With a desire to allows online retailers minimise the environmental impact of last-mile deliveries, smart logistics startup Pargo has launched a sustainable packaging method that might displace its old plastic packaging method.

The news to move from plastic to paper packaging was revealed in the company’s new corporate release to the public.

Speaking on the new development, Michael Gabriel, Head of Marketing at Pargo, explained that the aim of the new eco-friendly packaging was to position the company as a startup that takes into consideration its environments.

He said: “Businesses are in a privileged position to stage interventions that can bring about profound change to our habits of consumption.

“With Pargo’s adoption of eco-friendly paper packaging, we aim to bring about that change and stimulate conversation concerning the ecological footprint of sending and receiving parcels.”

With a strong focus to change the narratives, Pargo, through a new survey conducted, deduced that 90% of South African consumers prefer sustainable paper packaging over plastic.

Tech Trivia Answer: by Guglielmo Marconi

Although, the work of many scientists culminated in the building of an engineering complete and commercially successful wireless communication system, Guglielmo Marconi is often credited as the inventor of the radio set. This happened in the 1890s.

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