Nigeria’s BitPowr to provide blockchain service in new launch. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Nigeria’s BitPowr to provide blockchain service in new launch
BitPowr, a Nigerian-founded startup, has thrown its hat into the crypto ring, launching operations, to provide blockchain API, wallet and digital assets infrastructure for businesses.
The startup was founded in 2020 by Oyetoke Toby, a software developer with experience in a variety of system architectures, and programming languages.
Startup founder, Oyetoke Toby, noted that the company was launched to provide infrastructure for businesses and organisations looking to create, manage and secure their crypto wallets using the blockchain network.
According to Oyetoke, the startup offers a wallet API which is a complete suite wallet management solution.
Commenting on the use of the API, Oyetoke explained that it provides businesses the opportunity to create and manage different types of wallets for different blockchain.
He said: “Our vision is to build “AWS for crypto”, in the sense that we power any kind of business that wants to build on the blockchain.”
Tech Trivia: The term “DevOps” combines development with what other word?
D Open source
Answer: See end of post
2. Egypt’s logistics startup, YFS, closes $7m Series A funding round
Yalla Fel Sekka (YFS), an on-demand logistics provider based in Egypt, has closed a US$7 million Series A funding round.
READ ALSO: Nigerian founded startup, Casava, closes $4m pre-seed funding. 2 other things and a trivia
The startup confirmed this in a statement where it explained that the funding will help it expand its presence in Egypt and across the MENA region.
YFS was cofounded by Khashayar Mahdavi and Yasmine Abdel Karim in 2020.
According to the cofounders, the startup leverages its proprietary, data-driven technology to provide customers with near-instant deliveries.
Two years after inception, the company has already completed two million deliveries in Egypt, and is active in Cairo, Giza, Alexandria, Mansoura, and Tanta.
Speaking on the milestone recorded by the startup, Karim comfirmed that the startup makes about 10, 000 orders every single day.
He said: “We are now delivering over 10,000 orders per day while being gross margin positive only 18 months after launch in a vibrant but competitive market. Our gross merchandise volume is growing at a monthly rate of 20 per cent and our customer retention is above 90 per cent.”
3. Nigeria-based mobility startup, Moove, banks $10m debt round
Moove, Nigerian mobility startup, has banked US$10 million in debt financing as it seeks to expand across key markets.
The startup, which claims to be on a mission to democratize vehicle ownership in Africa, was founded in 2019 by British-born Nigerians, Ladi Delano and Jide Odunsi.
The founders are making this possible through the provision of a revenue-based vehicle financing to mobility entrepreneurs.
Moove was founded after both founders have successfully built three other businesses in Africa over the last eight years through Grace Lake Partners.
The startup embeds its alternative credit-scoring technology onto ride-hailing and e-logistics platforms, which allows access to proprietary performance and revenue analytics of mobility entrepreneurs to underwrite loans.
Trivia Answer: DevOps
DevOps combines the words “development” and “operations.” It encompasses developers and IT operations personnel within an organization.
The goal of DevOps integration is to improve collaboration between development and operations teams. An operations manager, for example, may request an update to a web application from the developers. In order for the update to be successful, the operations team must accurately describe all the necessary features of the update.
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