Ride hailing startup, Bolt, raises $711M in new funding round. 1 other thing and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Ride hailing startup, Bolt, raises $711M in new funding round

Ride hailing startup, Bolt, has announced raising a new sum estimated at €628, 000,000 ($711.40 million) led by Sequoia Capital and Fidelity Management & Research Company.

The new funding round takes Bolt’s valuation to €7.4 billion ($8.38 billion).

Bolt offers vehicle for hire, micro-mobility, car-sharing, and food delivery services in more than 40 countries in Europe, Africa, Western Asia, and Latin America.

The mobility startup was founded in 2013, and headquartered in Tallinn.

The raiser is expected to help the company further launch it expansion plans as a transport and food venture.

Tech Trivia: How many megahertz are in a gigahertz?

A 100
B 1,000
C 1,000,000
D 1,000,000,000
Answer: See end of post

READ ALSO: Chinese local lab launches 6G technology transmission. 1 other thing and a trivia

2. Tunisia’s Lamma to expand venture with Morocco launch

Lamma, a Tunisian quick commerce startup, has sought to expand its venture with a new entry into Morocco.

The startup delivers groceries, food, personal care, electronics and fashion items to users in the shortest time possible.

The Tunisian enterprise was founded by Yassir El Ismaili El Edrissi, Hamza Guesmi and Koussi Aymen in 2020.

Lamma leverages the use of dark stores and its partner network.

During the first year, Lamma began life as a ridesharing app, before pivoting into logistics in June of 2021.

Speaking on the development, Yassir El Ismaili El Edrissi, cofounder, noted that the ecommerce industry, especially in Africa, is suffering from payment inefficiencies.

He said: “We believe e-commerce in Africa is suffering from last mile and payment inefficiencies. Cash on delivery and inability to deliver on the same day are obstacles Lamma is solving.

“Of course partners in the beginning have difficulties trusting a new player, especially out of the food and beverage industry. But the quality of the team, our hard work and the traction are solving this issue progressively.”

Trivia Answer: Gigahertz

One gigahertz is equal to 1,000 megahertz (MHz) or 1,000,000,000 Hz. It is commonly used to measure computer processing speeds.

For many years, computer CPU speeds were measured in megahertz, but after personal computers eclipsed the 1,000 Mhz mark around the year 2000, gigahertz became the standard measurement unit. After all, it is easier to say “2.4 Gigahertz” than “2,400 Megahertz.”

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