Nigeria’s Messenger raises Nama-led pre-seed. 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 Messenger raises Nama-led pre-seed

 

A Nigerian logistics platform, Messenger, has announced raising an undisclosed pre-seed funding round led by Nama Ventures with participation from Aidi Ventures and notable Angels.

The startup made the announcement in a press release signed by CEO Amanda Etuk, and seen by Ripples Nigeria on Friday, June 16, 2023.

Messenger, which is a logistics platform that finances and aggregates end-to-end logistics, claims to have successfully completed 700,000 deliveries.

Speaking on the development, Amanda Etuk, the founder and CEO of Messenger said: 

“As a company, Messenger is dedicated to championing last-mile deliveries across Africa, one city at a time.”

Also speaking, Mohammed Alzubi, Founder and Managing Partner of Nama Ventures said: 

“This is one of those startups, that when we read their pitch deck, they stood out and we knew straight away of their potential. Amanda and Essein make an amazing team with their domain expertise and complementary skill sets.

“Also, Messenger is tackling a huge market in their service offering, which is always something we look for when evaluating opportunities. We are super excited at Nama to welcome this dream team into the Nama family.”

 

TECH TRIVIA: Which of the following is not an example of an in-app purchase?

1. Buying new skins for a multiplayer game avatar
2. Paying to unlock a mobile app’s premium features
3. Ordering a physical product through store’s mobile website
4. Paying for a subscription to an ad-free version of an app

Answer: see end of post

 

2. Kenya’s Peach Motors closes $5m to expand business 

 

Peach Motors, a Kenyan auto marketplace has announced raising a $5m seed funding round led by Japan-based The University of Tokyo Edge Capital Partners (UTEC) and other angel investors, 

According to the startup, investors in the round include Shintaro Yamada (founder and CEO of Mercari), Peter Kenevan (VP, Head of Japan at PayPal), and Hiroaki Ohta (general partner at Japan’s Waseda University Ventures).

Ripples Nigeria gathered that the startup was founded in 2020 by Kaoru Kaganoi and Zachary Petroni.

According to Peach Motors in a statement, the startup intends to use the funds to scale the business, hire more talent and double down on R&D as it expands its tech solutions.

CEO Kaoru Kaganoi noted that the Kenyan market lacked established car inspection methods and service providers.

The company claims to have introduced an innovative smart engine check device that harnesses Peach’s exclusive software to automate the car inspection process. 

 

3. Logistics startup, Trella, secures US$3.5m from Avanz Capital Egypt

 

Egypt’s marketplace for trucks, Trella, on Friday, has secured a US3.5m from Avanz Capital Egypt.

The raiser comes on the heels of a 2023 raiser when the startup secured $6 million in debt funding from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC).

Founded in 2018 by Omar Hagrass, Ali El Atrash, Pierre Saad, and Muhammad El Garem, the company is connecting shippers with trucks in real-time.

The newly-launched private equity fund Avanz Capital Egypt  Avanz Capital fund is a subsidiary of Squared Capital International and monitors a couple of funds.

Avanz Capital Egypt aims to contribute to the overall development and expansion of the Egyptian market. 

The first fund by Avanz Capital fund focuses on investing in startups and SMEs and, while the second fund is aimed at supporting low-carbon projects.

Avanz Capital Egypt’s investment strategy encompasses various sectors, including healthcare, logistics, green economy, renewable energy, and defense, among others.

The first closing of Avanz Manara Fund in March collected financial obligations of approximately 905 million pounds, with about 25% of the amount already paid.

The second fund sets its sights on low-carbon projects, intending to issue “carbon credits” under the name “EGYCOP.” 

 

Trivia Answer: In-App Purchase

An in-app purchase (also known as an IAP) is a purchase made within an app to unlock extra content or features. 

They are most common in mobile apps for iOS and Android, although developers of programs in the Windows and macOS app stores use them as well. IAPs may be a one-time transaction or a recurring subscription.

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