Nigeria’s Autocheck acquires majority stake in AutoTager. 2 other stories and a trivia

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

1. Nigeria’s Autocheck acquires majority stake in Egypt’s AutoTager

Nigeria-based car financing platform Autocheck, on Wednesday, announced the acquisition of a majority stake in Egypt’s used cars marketplace, AutoTager.

Olajide Adamolekun, Group CFO and co-founder of Autochek, confirmed the development in a press release.

AutoTager founded in 2021 by Amr Rezk, is a venture-backed startup that claims to be removing the friction from the car buying and selling process in Egypt.

Amr Rezk is a successful serial entrepreneur who developed and co-founded many successful businesses, including Fundseer, a top platform for GP/LP coordination in private equity.

Ripples Nigeria gathered that the acquisition will allow Autocheck to deepen its presence in North Africa and support the company’s ongoing growth.

“Amr’s background and track record is as impressive as it gets and I am delighted to have him on board,” the Group CFO stated.

He added that “His experience will be invaluable as we enter the Egyptian market and continue on our mission to improve the automotive finance value proposition on the continent and catalyse more growth across the automotive ecosystem.”

This acquisition marks Autochek’s third in less than a year and sixth in less than two, demonstrating the company’s ascent to the top position in Pan-African automotive technology.

Tech Trivia: What is the standard location for the copyright text on a webpage?
A. Footer
B. Header
C. Sidebar
D. Navbar
Answers: see end of post

2. Tunisia-based gaming platform, CoaChess, secures $191,000 pre-Seed funding

A Tunisia-based gaming platform, CoaChess, has raised $191,000 pre-Seed funding to improve its gaming infrastructure.

Read also:Scalo Technologies to invest $100M in Mena startups. 2 other stories and a trivia

In a statement seen by Ripples Nigeria on Wednesday, CoaChess’s founder, Iheb Kaabi, expressed optimism in game development.

Ripples Nigeria gathered that the pre-seed funding round worth 600k TND (USD191,000) was secured from Omicrone, their new investor and startup builder.

CoaChess says its objective is to revolutionise the chess world by utilizing AI-powered tools to make the game accessible to players of all skill levels.

“We are committed to continuing our journey and working to make chess more accessible and enjoyable for everyone,” stated Kaabi.

Kaabi added that the most cutting-edge feature of CoaChess is its intelligent bot, which can imitate notable chess champions and other significant figures in the game’s past.

3. Australian AI biotech startup, Cortical Labs, secures $10M funding

An Australian startup with the idea of using stem cells to create biocomputers, Cortical Labs, has secured $10 million in funding.

Hon Weng Chong, CEO and founder of Cortical Labs disclosed this in a statement on Wednesday.

Cortical claims to have created a class of artificial intelligence (AI) called “Organoid Intelligence (OI)” by fusing synthetic biology and human neurons.

It’s now raised a $10 million funding round led by Horizons Ventures, with participation from LifeX Ventures, Blackbird Ventures, Radar Ventures, and In-Q-Tel.

“The possibilities that a hybridised AI meets synthetic biology model can unlock are limitless, accelerating the possibilities of digital AI in a more powerful and more sustainable way,” Chong explained.

The method developed by Cortical Laboratories initially demonstrated how Pong can be made to appear to neurons in a petri dish in the scientific journal Neuron in October 2022.

Trivia Answer: Footer

Some websites may also include basic navigation links, such as “About Us,” “Contact,” and “Help.”

Corporate website footers often include additional links to “Terms of Use,” “Privacy Guidelines,” and “Advertising” pages as well.

By Kayode Hamsat

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