Nigeria’s Humansquad secures pre-seed investment. 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 Humansquad secures pre-seed investment
A Nigeria-owned immigration tech startup, Humansquad, has announced securing a 6-figure pre-seed investment led by Calm Fund.
The company’s Co-founder and CEO, Tunde Omotoye, who confirmed the development in a statement on Friday, said that the fund will help the startup boost its development of proprietary immigration tech products.
HumanSquad, which is an immigration tech company, connects immigrants to resources, products, and customized support.
The Canada-based startup was founded by Tunde Omotoye (CEO) and Temilola Adebayo (COO & Head of Storytelling) in 2020.
Ripples Nigeria gathered that HumanSquad built their first AI-powered immigration prototype, MVP1, helping immigrants immigrate conveniently and affordably.
Reacting to the funding on the company’s official Twitter handle, the company after expressing appreciation highlighted how the funding will be utilized.
“This funding will enable us to move more effectively in all of the areas that are key to our success.
“Thanks to all our consultants, employees, and all our clients for their support this past two years,” the tweet read.
Tech Trivia: WEP is a security protocol for what type of network?
B Token Ring
Answer: see end of post
2. American multinational tech company, Amazon, to shut down Kindle store in China
American multinational technology company, Amazon, has announced intent to shut down its Kindle store in China, a development that signifies Kindle users will not be able to buy online books in the country.
Read also :Norway’s Pangea looks to support African startups. 1 other story and a trivia
A statement by Amazon on Chinese social media platform, Weibo, disclosed the latest development on Friday.
The Seattle-based firm, which is a multinational company, focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.
Ripples Nigeria gathered that Amazon first entered mainland China in 2004 by acquiring Joyo.com, a major online seller of books, music, and videos in the country.
Though the closure is set to take effect immediately, however, existing users will be able to download previous purchases until June 2024.
The company, while disclosing the new development, said:
“Amazon China’s long-term commitment to customers will not change.
“We have established an extensive business foundation in China and will continue to innovate and invest.”
3. UAE foodtech start-up, Grubtech, launches operation in Egypt
A UAE-based foodtech startup, Grubtech, has announced launching a new office to start operating from Egypt.
Mohamed Al-Fayed, Co-Founder and CEO of Grubtech, confirmed the latest expansion in a statement seen by Ripples Nigeria on Friday.
Initially based in the UAE, Grubtech digitizes the back-end operations of restaurants and cloud kitchens.
The new expansion will add to markets of the startup as it already has footprints in Sri Lanka, Turkey, and the UAE with service clients in 17 countries.
Ripples Nigeria gathered that the startup was founded in 2019 by Mohamed Al-Fayed, Mohamed Hamidi, and Omar Al-Refaie.
Speaking on the development, Al-Fayed said:
“I am so pleased to announce the launch of our operations in Egypt, which is one of the most important markets in the region.
“The food and beverages sector in Egypt is moving on in terms of digitization and growth.”
Trivia answer: Wi-Fi
Stands for “Wired Equivalent Privacy.” WEP is a security protocol for Wi-Fi networks. Since wireless networks transmit data over radio waves, it is easy to intercept data or “eavesdrop” on wireless data transmissions.
The goal of WEP is to make wireless networks as secure as wired networks, such as those connected by Ethernet cables. The wired equivalent privacy protocol adds security to a wireless network by encrypting the data. If the data is intercepted, it will be unrecognizable to system that intercepted the data, since it is encrypted.
By Kayode Hamsat
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