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Swedish technology company, Roam, partners Kenyan M-KOPA. 2 other stories and a trivia



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

1. Swedish tech company, Roam, partners Kenyan M-KOPA on electric motorbikes

A Swedish technology company, Roam has announced a partnership deal with Kenya-based fintech platform, M-KOPA, for credit sales of electric motorcycles.

Mikael Gånge, Co-Founder and Chief Commercial Officer of Roam, confirmed the partnership deal in a press release seen by Ripples Nigeria on Wednesday.

Mikael noted that the deal was the first-ever large-scale supply agreement for electric motorcycles in Africa.

Playing in the fintech space, M-KOPA provides credit and digital financial services to underbanked consumers in Africa.

Roam (previously known as Opibus) is a Swedish technology company with existing presence in Kenya that develops, designs, and deploys electric vehicles,

“This agreement is an incredible trigger for electric motorcycle adoption in emerging markets and validates our vision of releasing a locally designed product that exceeds the experience of traditional fossil fuel motorcycles for a similar price,” said Mikael while explaining the partnership deal.

He also noted that the partnership with M-KOPA would boost the shared vision of having cleaner mobility.

Tech Trivia: What term describes development of a completely new software program?
A. Greenhouse
B. Greenfield
C. Greenland
D. Greenlake
Answer: see end of post

2. San Francisco-based foodtech company, Eat Just, secures $25m

A San Francisco-based company, Eat Just, has secured $25 million in funding from C2 Capital Partners, a private equity firm with Alibaba as its anchor investor.

Read also:Egypt’s marketing startup, Convertedin, secures $3m seed round. 2 other stories and a trivia

CEO Josh Tetrick on Wednesday confirmed the new funding and partnership in a media release.

Eat Just (formerly Hampton Creek) was founded in 2011 by Josh Balk, and Josh Tetrick.

The company offers plant-based egg substitutes intended to provide healthy and nutritional food alternatives.

Ripples Nigeria gathered that Eat Just ventured into the Chinese market after establishing a strong foothold for its plant-based eggs in the U.S. market.

“We will never be able to accomplish the goal of changing the world without China,” said Tetrick.

Tetrick said that the new fund would help the firm expand its market footprint in China.

3. Seoul-based equity management platform, QuotaBook, secures $11m funding

A Seoul-based equity management platform, QuotaBook, has announced securing $11 million in funding from Elefund.

Cofounder Andy Choi confirmed in a press release on Wednesday that the funding saw participation from Access Ventures, Hana Securities, and Viva Republica.

Choi cofounded the south Korean company with Dan Hong and Pilseon Jun, in 2019.

The Korean startup, which graduated from Y Combinator (YC)’s Winter 21 batch said that it specialized in equity management.

On the reason to launch the startup, Choi said:

“I had a case where the startup didn’t provide their most up-to-date cap table Excel sheet for more than two months, which made it hard for us to update our investment valuations and returns that were needed to be reported to our LPs.”

He noted that the funding would help boost technological infrastructure and expansion further into Asian markets.

Trivia Answer: Greenfield

Greenfield is a term from the construction industry that refers to undeveloped land.

In the IT world, greenfield describes a software project that is developed from scratch rather than built from an existing program. It is often contrasted with “brownfield,” which describes software built from an existing program.

By Kayode Hamsat

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