This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Moroccan startup Chari closes round to value at $100m
Chari, a Moroccan B2B e-commerce and fintech startup, has announced closing a bridge round.
The development comes on the heels of the acquisition of credit book app Karny.
The new raiser values the ecommerce company at US$100 million.
Chari was founded in 2020 by Ismael and Sophia Belkhayat, a husband and wife team based in Morocco.
Chari claims to allow traditional proximity store owners in Morocco to order products and have them delivered.
Since it inception and market venture, the startup now works with more than 50 per cent of the proximity stores in Casablanca.
Tech Trivia: What type of document might be processed using OCR?
A Spreadsheet document
B Scanned document
C Audio file
D Video file
Answer: See end of post
2. Senegal’s PAPS secures $4.5m to expand venture
PAPS, leading Senegalese logistics startup, secured a US$4.5 million pre-Series A funding round.
The round, according to the startup, comes from local and international investors.
PAPS offers end-to-end logistics solutions for business with both offline and online operations.
The new raiser is expected to help it scale its tech-enabled logistics solution across the Francophone African region.
PAPS was founded in September 2016, with a vision to allows businesses of all sizes effectively manage their logistics needs.
The new investment was co-led by 4DX Ventures and Orange, with participation from existing investors such as Saviu Ventures and Uma Ventures.
3. Kenyan fintech startup, Zanifu, raises $1M in seed funding
Kenyan fintech startup, Zanifu, has raised a $1 million in seed funding.
Zanifu helps Micro, Small & Medium Enterprises (MSMEs) access working capital by providing short-term stock financing.
The Kenyan startup looks to use the funds to upgrade its platforms.
Commenting on the development, the startup noted that Launch Africa Ventures, Sayani Investments, Saviu Ventures as well as numerous angel investors from Kenya and Nigeria participated in the round.
The new raiser brings the total funding received by the startup to $1.2 million (R18 165 960,00).
Trivia Answer: OCR
Stands for “Optical Character Recognition.” OCR is a technology that recognizes text within a digital image. It is commonly used to recognize text in scanned documents, but it serves many other purposes as well.
OCR software processes a digital image by locating and recognizing characters, such as letters, numbers, and symbols. Some OCR software will simply export the text, while other programs can convert the characters to editable text directly in the image.
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