SA’s REdimension launches $10.8M fund to empower proptech startups. 2 other stories and a trivia

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

1. SA’s REdimension launches $10.8M fund to empower proptech startups

 

REdimension Capital, a real estate investment firm, has secured R200 million ($10.8 million) in funding to bolster South Africa’s property technology (proptech) start-ups. 

This development was announced, revealing the first close of the REdimension Real Estate Technology and Sustainability Fund I.

With substantial support from stakeholders within the real estate sector, the fund’s objective is to invest in early-stage technology companies that offer tangible advancements in property development, management, and engagement processes.

Through strategic collaboration with industry stakeholders, the fund is expected to fostered a mutually beneficial ecosystem, intending to generate investment and operating returns while promoting the adoption of technology and sustainable practices in the real estate industry.

Key industry players, including Investec Property Fund, Growthpoint Properties, and Rand Merchant Bank, anchor the fund as founding investors, to demonstrate their confidence in REdimension Capital’s vision. 

As a fund backed by established industry players, it is expected to support early-stage proptech companies with scalable business models, providing them with a platform for distribution and value creation.

The launch of the REdimension Real Estate Technology and Sustainability Fund I signifies a growing interest in the South African proptech sector. 

 

Tech Trivia: Which security protocol was used by first- and second-generation Wi-Fi networks?

1.WPA
2.TKIP
3.WEP
4.WPA2

Answer: see end of post

 

2. Binance crosses $90B in monthly cryptocurrency transactions 

 

Binance, the leading cryptocurrency exchange, has reported a $90 billion worth of cryptocurrency-related assets traded in a single month in China, despite cryptocurrency trading being banned in the country since 2021.

This unexpected surge has made China Binance’s largest market by a significant margin, accounting for an impressive 20% of the exchange’s global volume. .

Binance, which originated in China, withdrew from mainland China in 2017 amidst a regulatory crackdown on cryptocurrency trading. 

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While flourishing in the China market, Binance has faced scrutiny from US regulators, including the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).

The CFTC filed a lawsuit against Binance, accusing the exchange of operating an “illegal” exchange and running a “sham” compliance program. 

The SEC also sued Binance and its CEO Changpeng Zhao, alleging that the exchange artificially inflated its trading volumes, diverted customer funds, failed to restrict US customers from its platform, and misled investors about its market surveillance controls.

Binance’s prominent role in this market underscores its position as a leading exchange, but also brings added scrutiny from international regulators, who seek to enforce compliance and protect investors. 

 

3. e& Capital leads Airalo’s $60 Million Series B

Airalo, the eSIM marketplace revolutionizing global connectivity, has raised an impressive $60 million in its Series B financing round. 

Led by e& capital, the investment arm of the global technology group e&, this financing brings Airalo’s total funding to $67.3 million.

The Series B round boasts the participation of renowned investors, including Antler Elevate, Liberty Global, Orange, T.Capital, Rakuten Capital, Singtel Innov8, Telefónica Ventures, Sequoia Capital India, SEA’s (now known as Peak XV Partners) Surge, KPN Ventures, and I2BF Global Ventures. 

This diverse consortium of investors reflects the widespread recognition of Airalo’s transformative work in making global connectivity accessible and affordable for travelers worldwide.

The significant capital injection will fuel Airalo’s ambitious growth plans, including the expansion of its vibrant user community, the amplification of its global team, and the introduction of Airalo Partners, an innovative connectivity solution tailored to businesses and organizations worldwide.

By combining cutting-edge technology with a user-centric approach, Airalo continues to empower travelers with seamless access to mobile networks, transforming their journeys into unforgettable experiences.

Airalo’s Series B funding round and the support from prominent investors signify the strong demand for innovative global connectivity solutions.

As the world becomes increasingly interconnected, the need for seamless mobile network access while traveling becomes more critical than ever. 

 

Trivia answer: WEP stands for “Wired Equivalent Privacy”.

WEP was a security protocol used by first- and second-generation Wi-Fi networks. It was part of the original 802.11 Wi-Fi specification, using encryption to protect data transmitted over radio waves. 

Due to significant security vulnerabilities, WEP was deprecated and replaced by WPA and WPA2. WEP was introduced with the original Wi-Fi specification and served as the standard method of encrypting traffic for 802.11a and 802.11b networks.

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