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Nigerian Wi-Fi sharing startup, Wicrypt, secures $1.5m funding. 2 other things and a trivia



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

1. Nigerian Wi-Fi sharing startup Wicrypt secures $1.5m funding

Wicrypt, a Nigerian blockchain-based Wi-Fi sharing startup has announced closing a US$1.5 million funding round.

Described as strategic, the new funding will help Wicrypt expand into new countries.

The startup is a decentralised mobile internet sharing and monetisation network.

Launched in 2018, Wicrypt allows anyone get paid for sharing their Wi-Fi facility.

Rolling out service, the startup signed an exclusive partnership with the city of Enugu, Nigeria to provide internet service to its citizens.

The round was led by AU21 Capital, with participation from Polygon founder Sandeep Nailwal, Cardano’s Occam, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, and PolkaFoundary.

Tech Trivia: What type of port does the iPhone 12 have?
A Dock connector
B Lightning
C Thunderbolt
Answer: See end of post

2. Moove partners Lori to propel financing for African logistics

Moove, a Nigerian mobility fintech startup, has partnered with Kenyan e-logistics company Lori Systems to deliver access to affordable vehicle financing within Africa’s trucking and logistics industry.

READ ALSO: Fintech startup Ukheshe to expand portfolio outside S’Africa. 2 other things and a trivia

Moove, which was founded by Ladi Delano and Jide Odunsi, is democratising vehicle ownership in Africa by providing revenue-based vehicle financing to mobility entrepreneurs.

In September, the startup closed a US$63.2 million Series A debt and equity funding round.

Today, the venture is Uber’s exclusive vehicle financing and supply partner in Sub-Saharan Africa.

Lori Systems, on the other hand, provides supply chain management solutions to cargo owners, ensuring flexibility, reliability and cost savings.

Lori opened operations in Uganda, Rwanda and South Sudan in 2018, and expanded to Nigeria in 2019.

3. Cape Town tech startup closes R7-million in funding

Adbot, a Cape Town-based online advertising tech startup Adbot, has secured R7-million ($500 000) in capital raise.

The raiser was led by Enygma Ventures, an investment funding dedicated to supporting female entrepreneurs and women founders in Southern and Eastern Africa.

Speaking on the development, Lelemba Phiri, operating partner of Engyma ventures, noted that market access was chief on the challenges facing the startup.

He said: “Adbot’s offering is the first of its kind on the market and having worked with SMEs on the continent for over a decade, we are keenly aware of their challenges, with market access being chief among them.

“Adbot’s potential in solving this issue for small business owners in Africa is immense and exciting.”

Trivia Answer: Lightning

Lightning is a proprietary I/O interface designed by Apple for its mobile devices, such as the iPhone, iPad, and iPod. It was first introduced in September, 2012, with the iPhone 5 and new iPod models.

It was later added to iPads, beginning with the 4th generation iPad and the first generation iPad mini. The Lightning interface replaced the the previous “dock connector,” which Apple products used since 2003.

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