Connect with us

Tech

TechNigeria: A weekly digest of what went down in Nigeria’s tech space

Published

on

TechNigeria: A weekly digest of what went down in Nigeria’s tech space

ProXalys, Tyme, Chari, Reliance Health, BasiGo, Mecho and Thndr. These are some of the names that made the headlines this week.

Reliance Health, a Lagos/Texas-based digital healthcare provider, during the week, announced closing a $40 million Series B round.

Also, Mecho Autotech, a Nigerian vehicle repair and maintenance firm, closed a US$2.15 million seed funding round.

Let’s get into details.

ProXalys wants to scale up the retail-tech model. During the week, the Senegal-based retail-tech startup closed a US$150,000 in pre-seed funding.

The raiser, according to a report by Ridwan Adelaja, comes as the startup sought to expand across the country and other West African regions.

ProXalys is described as a digital transformational startup in the B2B commerce, with claims to modernise and empower Senegal’s informal traders, as it seeks to digitise the entire value chain and reinventing supply chain processes.

Africa ticked another endorsement box. Global Endeavor network has accepted South Africa’s Tyme and Morocco’s Chari into its accelerator programme, Ripples Nigeria reports.

The accelerator, which is designed to accelerate selected startups, will help startups gain access to various support services to help their companies scale.

The Endeavor initiative will catalyse long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs worldwide.

The world is taking mental health seriously. Leading Korean startup, Atommerce, raised a $16.7 million Series B to scale its venture, Ridwan Adelaja reports.

By venture, the startup helps users connect with mental health professionals via a mobile app: MiNDCAFE.

The Seoul-based startup offers a virtual therapy program and a mental health benefits solution for employers.

The gut to disrupt the road-side mechanic business is paying off. Mecho Autotech, a Nigerian vehicle repair and maintenance firm, has closed a US$2.15 million seed funding round, Ripples Nigeria reports.

According to the report, the investment came as the startup sought to expand its capacities and acquire more customers.

Read also: TechNigeria: A weekly digest of what went down in Nigeria’s tech space

Background into the venture revealed that the startup was founded in 2021 by Olusegun Owoade and Ayoola Akinkunmi.

BasiGo made headline across media platforms. Towards achieving its ambition to commercialise electric bus model, Kenyan startup, BasiGo, closed a fresh US$4.3 million seed funding round.

Our tech correspondent highlighted that BasiGo is an electric vehicle technology and financing company, seeking to bring electric bus services to Sub-Saharan Africa.

The fund is expected to help BasiGo commercialise its business model and begin local assembly of electric buses.

Egypt’s startup big win. Thndr, an Egyptian digital investment platform, during the week, banked a US$20 million Series A funding round.

It was gathered that the round was co-led by Tiger Global, BECO Capital and Prosus Ventures, and will be used to fund the startup’s product development plans and expansion across MENA.

The digital investment company was launched in 2020 by Ahmad Hammouda and Seif Amr, following its participation in the Silicon Valley-based Y Combinator accelerator.

Milestone in the health-tech ecosystem. Reliance Health, a Lagos/Texas-based digital healthcare provider, announced closing a $40 million Series B round.

Described as the largest of its kind in African healthtech, the round was led by General Atlantic.

Industry insights revealed that healthtech in Africa is expected to reach a market value of over US$11 billion by 2025.

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