Scalo Technologies to invest $100M in Mena 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. Scalo Technologies to invest $100M in Mena startups

Scalo Technologies, a venture capital business with offices in Singapore, has relocated to Dubai with plans to invest $100 million in promising entrepreneurs in the coming years.

Abdumalik Mirakhmedov, Director and co-founder of Scalo Technologies, confirmed this in a press release seen by Ripples Nigeria on Wednesday.

Scalo Technologies noted that it seeks to benefit from Dubai’s high level of business activity, growing economy, and strong government initiatives to attract entrepreneurs and professionals from across the globe.

“Dubai is at the heart of the MENA region, which is actively growing, and provides us with many outstanding investment opportunities,” said Mirakhmedov,

In the next three to five years, Scalo is expected to identify UAE-based and MENA-based founders, as well as invest $100 million in promising businesses.

Tech Trivia:Small metal connectors used as on/off switches are also called what?
A. Macros
B. Leads
C. Jumpers
D. Heu
Answer: see end of post

2. Climate tech venture capital firm, Equator, closes first $40 million fund

Equator, a venture capital firm specializing in climate technology with a sub-Saharan Africa focus, has received pledges totaling $40 million for the first closure of its inaugural fund.

Read also:Nigeria’s mobility startup, Shuttlers, secures $4M new funding. 2 other stories and a trivia

Managing partner Nijhad Jamal confirmed this in a statement on Wednesday.

According to the company’s statement, its limited partners include BII, the Shell Foundation, the Global Energy Alliance for People and Planet (GEAPP), and impact investor DOEN Participaties.

Jamal noted that the firm was interested in these sectors because of numerous untapped market opportunities.

“The hope is that by investing at these stages, we can mobilize capital at Series B and growth equity stages from large regional funds, global climate tech funds, and corporations excited about the sector and region,” said Jamal.

Before joining Equator, Jamal worked for impact investment firm Acumen Fund and asset management BlackRock, where he oversaw the company’s clean technology division.

3. Microsoft replaces Surface Connect Port to support users with disabilities

Microsoft has made public announcements regarding the release of its most recent item, the Surface Thunderbolt 4 Dock.

This was contained on Microsoft’s official web page seen by Ripples Nigeria on Wednesday.

Ripples Nigeria gathered that the cost of this new dock is $299.99, and it will connect via USB-C rather than the exclusive Surface Connect port.

“Surface Thunderbolt 4 Dock is a USB4/Thunderbolt 4 dock that helps maximize workspace, delivers ultra-high speed data transfer and the versatility to connect and charge your most important peripherals,” the tech giant wrote.

It added that the redesigned dock had adaptable rear-facing ports with elevated tactile indicators in addition to front-facing ports for the benefit of users with various disabilities.

Trivia Answer: Jumper

A jumper is a small metal connector that acts as an on/off switch. Multiple jumpers are often used together to configure settings for a hardware device

By Kayode Hamsat

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