Nigeria’s Identitypass closes $360k pre-seed 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. Nigeria’s Identitypass closes $360k pre-seed funding

Identitypass, a Nigerian digital compliance and security company, has announced closing a US$360,000 in pre-seed funding.

The fund is expected to help it acquire more customers and further develop its product as it looks to expand its team.

The digital compliance startup was launched in January of this year by Lanre Ogungbe, Niyi Adegboye and David Obi.

The startup runs with a vision to build a world class compliance and security infrastructure for Africa.

According to sources familiar with the startup, it provides an easy-to-use compliance and data security platform that allows online businesses to easily authenticate and validate the identity of a transacting party through existing forms of identification.

Today, Identitypass has developed a variety of products, including an ID checker, identity graph and identity form, and is currently powering the verification solutions of over 170 businesses.

Tech Trivia: Which technical term refers to a short delay?

A Accessibility
B Latency
C Frequency
D Redundancy
Answer: See end of post

2. Open-source intelligence startup, VoxCroft, secures $2m Series A round

VoxCroft Analytics, a South African open-source intelligence company, has secured about US$2 million in Series A funding from Knife Capital.

READ ALSO: Agri-fintech startup HelloChoice closes investment from Standard Bank. 1 other thing and a trivia

The fund comes to expedite its already-rapid expansion in the United States and other international markets.

The South African startup was founded in 2018, specialising in open-source intelligence (OSINT), an oft-neglected source of insight differentiated from the other forms of intelligence such as human intelligence (HUMINT) or signals intelligence (SIGINT) in that it relies on open-source data.

Since launch, the startup is building state-of-the-art intelligence and risk analytics solutions for government and private customers.

The startup’s product help decision-makers by providing them with accurate, timely, and relevant information.

Speaking on the vision and new raiser, South Africa chief executive officer (CEO) Barend Lutz expressed the startup’s excitement to work with Knife Capital on its growth plan.

He said: “The collection and analytical components in open-source intelligence are increasingly sophisticated and critical to public and private sector success in anticipating risk faster than ever before.

“With Knife Capital investment, VoxCroft is poised to redefine how information can be discovered, analyzed, and delivered across the globe.

“With their focus on tech, Knife Capital understands how our new form of intelligence tradecraft synthesises machine learning, exclusive machine translation, data science, and human wisdom.”

3. Egypt’s KIWE raises investment to speed growth

KIWE, an Egyptian fintech startup, has raised its first round of funding as it looks to drive growth.

KIWE was founded in March 2021 by Fatma Khalifa, Omar Kamel and Mohamed Khalifa.

Venturing into the fintech space, KIWE is a peer-to-peer money exchange app that allows its users to transfer money to each other in real-time.

The startup, in a statement, said that it was on a “quest” to create a cashless ecosystem through a comprehensive merchants network, providing customers with the safest and simplest payment experience.

The statement reads: “We are strong believers of empowering freelancers and business owners by helping them identify their targets, level up their customer experience and accept online and offline payments.

“Our vision is for KIWE to become a verb interchangeable with any word that speaks payments. We strive to have our customers reach out to their phones instinctively whenever a receipt is printed, a cheque arrives at the table, or a friend’s pay-back is due.

“Through this strategic consortium of investors, we target to catapult the growth of KIWE by deploying dfins’ tech-based financial services portfolio, utilising EFGs’ Valu as a key payment method, and rolling out across Marakez’s portfolio of commercial and residential projects – a perfect fit to help drive our mission towards a stronger e-payments future.”

Trivia Answer: Latency

In computing, “latency” describes some type of delay. It typically refers to delays in transmitting or processing data, which can be caused by a wide variety of reasons. Two examples of latency are network latency and disk latency, which are explained below.

Network latency, for instance, describes a delay that takes place during communication over a network (including the Internet).

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