Nigeria’s Techrity to host crypto-focused event in Africa. 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 Techrity to host crypto-focused event in Africa

Nigerian non-profit social enterprise, Techrity, has announced plans to host a crypto-focused event in Africa.

The social enterprise disclosed this on Monday in a statement made available to Ripples Nigeria.

According to the Port Harcourt-based organisation, the hosting, which is slated for Saturday, July 16th, 2022, comes in collaboration with African Blockchain Center for Developers (ABCD) and the RSK (Rootstock) community.

Ripples Nigeria gathered that the event will be the first RSK Nigeria Meetup with an aim to bring together everyone across Nigeria interested in web3 and the blockchain industry.

Commenting on the speakers and others resource persons for the occasion, the press release revealed that it is expected that keynote speakers at the event will focus on decentralized finance and how blockchain technology can be utilized for social impact and financial inclusion.

Tech Trivia: Which audio file format provides the highest compression ratio?
A. AIFF
B. FLAC
C. MP3
D. WAV
Answer: see end of post

2. Early-stage supply chain startup, Wheelocity, secures $12 million funding

Indian early-stage supply chain startup, Wheelocity, has on Tuesday announced securing $12 million funding.

Selvam VMS, founder and CEO at Wheelocity, confirmed that Lightspeed India Partners led the startup’s Series A funding.

Read also:Egypt’s petcare, e-commerce startup, Vetwork, seals Bridge round. 2 other stories and a trivia

Ripples Nigeria gathered that the funding is a mix of 80 percent equity and 20 percent venture debt.

Wheelocity, an early-stage supply chain startup, handles fresh food supplies for quick commerce platforms in India.

The Bangalore-based startup was founded in 2021 by Selvam VMS.

A partner at Lightspeed, Rahul Taneja, while explaining the reason to invest in Wheelocity said:

“Solving the fresh supply chain in India is a very large problem and in Wheelocity, we saw a mission-driven team, committed to create a meaningful difference for its customers by creating the rails for fresh commerce in the country.”

3. African tech design solutions, Aza Petrosolutions, secures $250K

An Agadir-based design of technology solutions company, Aza Petrosolutions, has announced securing a $250K from Maroc Numeric Fund II to expand its oil distribution network.

Dounia Boumehdi, Managing Director of MITC Capital and fund’s manager, confirmed the latest funding in a media release seen by Ripples Nigeria on Tuesday.

The startup’s solutions claims to provide clients with a full monitoring solution, allowing them to eliminate old methods of reconciliation, as well as an automated system for managing refuelling and distribution operations.

The Moroccan startup was founded by Zakaria Azemzi, Fatima Ezzahra Azemzi, and Abdelaziz Elaiachi.

“We are delighted to assist Aza Petrosolutions in its growth. We were drawn in by the team’s quality and complementarity, as well as the ideas they have developed to solve actual digitalization needs in the oil distribution business,” said Dounia while commenting on the investment.

Ripples Nigeria gathered that this is Maroc Numeric Fund II’s sixth investment and the management team’s 23rd investment.

Trivia Answer: MP3

Popular audio formats, such as MP3 and M4A use compression algorithms that remove inaudible frequencies and reduce the dynamics of the sound.

Since uncompressed audio files, such as AIFF and WAVE files, take up a lot of disk space, they are often compressed as MP3 or M4A files before they are distributed over the Internet.

These files are typically around one tenth the size of the original audio files and have nearly identical sound quality.

By Kayode Hamsat

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now