Nigeria’s digital automotive commerce company, Autochek, acquires CoinAfrique. 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 digital automotive commerce company, Autochek, acquires CoinAfrique

A Nigerian Digital automotive commerce company, Autochek, has announced the acquisition of CoinAfrique, for an undisclosed amount to accelerate growth in Francophone African countries.

The Nigerian pan-African automotive technology company confirmed the latest acquisition in a media release seen by Ripples Nigeria on Wednesday.

Ripples Nigeria had earlier reported that Autochek acquired Cheki platforms and KIFAL Auto among other acquisitions.

CoinAfrique, a classified marketplace in francophone African countries, was initially founded in Benin in 2016 by Matthias Papet and Eric Genetre,

The francophone-focused company now has footprints in 10 countries in the region.

CoinAfrique’s co-founder, Papet explained the opportunities in the acquisition.

He said: “We see many opportunities to unlock value for users across all the categories on our platform and to expand into new countries, and we are looking forward to leveraging Autochek’s market leading loans product and expertise to deliver more transformative experiences for our users.”

Tech Trivia: Which HTTP error code represents a “Forbidden” error?
A. 400
B. 403
C. 404
D. 408
Answer: see end of post

2. AI chip developer, Rebellions, secures $22.8m Series A extension funding

A South Korean AI chip developer, Rebellions, has on Wednesday announced securing a $22.8 million (30 billion KRW) extension to its Series A funding led by KT.

Read also:African startups emerge winners of VivaTech Awards. 1 other story and a trivia

The company, while confirming the latest funding in a media statement, said that in the total Series A funding, about $102.8 million has been raised since its inception.

Rebellions claims it’s building genuine AI accelerators by bi-directionally bridging the gap between underlying silicon architectures and deep learning algorithms.

The Seoul-based AI company was founded by Founders Hyo-eun Kim, Jinwook Oh, and Sunghyun Park in 2020.

The CEO of KT Hyeon-Mo Ku in a statement while making comments on the investment partnership hopes that “Rebellions will become a global fabless company like NVIDIA and Qualcomm.”

Ripples Nigeria gathered that the strategic partnership with KT is the second Rebellions has made with AI chipmakers in South Korea.

3. UK-based quantum computing startup, Oxford Quantum Circuits, closes $47m

A UK-based Quantum computing startup, Oxford Quantum Circuits (OQC), has announced closing a £38 million ($47 million) Series A funding to accelerate the growth of and expand technological infrastructure

Ilana Wisby, OQC’s founding CEO confirmed in a media release that Lansdowne Partners and The University of Tokyo Edge Capital Partners (UTEC) co-led the funding round.

According to the media release, British Patient Capital, Oxford Science Enterprises (OSE) and Oxford Investment Consultants (OIC) also participated in the funding round.

OQC’s quantum says its computer is a complete functional unit, including the control system, the hardware and the software.

Ripples Nigeria gathered that OQC quantum is the only quantum computer commercially available in the UK.

“We work at pace, and our systems are being optimized. We’ll continue to scale and reduce error rates,” said Wisby.

The company said it plans to use the new funding to hire more talented personnel.

Trivia Answer: 403 Error

A 403 error is an HTTP error code that indicates access to a specific URL is forbidden.

Websites often display 403 errors with a generic message such as, “You don’t have permission to access this resource.”

By Kayode Hamsat

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