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Nigeria’s ImaliPay secures pre-seed funding. 2 other things and a trivia

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These latest stories from the tech space will keep you updated with trends today.

1. Kenyan retail-tech startup closes $1.5m seed round

Powered by People, a Kenyan retail-tech startup, has announced closing a US$1.5 million in seed funding.

The fund, according to the startup, is expected to see it continue its growth in accelerating the revolution of boutique manufacturing.

The company is a mobile-first, distributed manufacturing system offering online tools, financing solutions, and a B2B marketplace to the small and mid-sized enterprises in the creative manufacturing and handmade sector.

Since its inception, the startup has been connecting handmade and natural cosmetic producers across Africa, Asia and Latin America via a wholesale platform, offering retailers credit lines with flexible payments, discovery of diverse global brands and products.

Industry insight also revealed that the startup facilitates the ability to customise products for exclusive offers in their store.

Today, it has converted brands such as William Sonoma, IKEA, Crate and Barrel, Nordstroms and Goop, among others.


Tech Trivia:

Where was the first ATM installed?

A. London
B. New York
C. Hong Kong
D. Jos

Answer: See end of post.


2. Nigeria’s ImaliPay secures pre-seed funding to facilitate operations

Towards servicing gig workers’ financial needs, Nigerian startup ImaliPay, has secured a round of pre-seed funding as it looks to scale more quickly.

The startup leverages artificial intelligence (AI) and big data to offer tailored financial products that promote the inclusion of gig economy platforms and workers across Africa.

Although, only recently founded in 2020 by Tatenda Furusa and Sanmi Akinmusire, the platform has been able to offer both new and existing gig workers or freelancers the ability to seamlessly save their income and receive in-kind loans through a buy now, pay later model tied to their trade.

With the startup, a gig worker can save money or repay loans on time by building a credit history that will in turn unlock more formal financial services in the future.

Speaking on the development, ImaliPay maintained to keep the amount raised undisclosed but stated that it was led by Australian venture capital firm TEN13, which has also invested in the likes of Chipper Cash and Bookipi.

3. Autonomous drone maker Skydio nets $170M to become unicorn

In an investment led by Andreessen Horowitz, Skydio has raised $170 million in a Series D funding round.

Pushing the drone maker startup to the status of a unicorn, the company recorded, with the new raiser, $340 million in total funding.

Now valued at $1 billion, Skydio’s fresh capital comes on the heels of its expansion last year into the enterprise market.

Speaking on the development, the company intends to use the new raiser help it expand globally and accelerate product development.

Skydio’s debut drone, the R1, has received a lot of accolades and praise for its autonomous capabilities.


Tech Trivia Answer: London

The first ATM was set up in June 1967 on a street in Enfield, London at a branch of Barclays bank.

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