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

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Mikron, Sticitt, Minit, Al Mada, Waspito, Malt, and Zepto. These are some of the names that made the headlines this week.

American tech giant, Microsoft, has completed the acquisition of mining technology vendor, Minit.

Also, Al Mada, a Morocco-based investment company, during the week, launched a US$110 million pan-African venture capital fund.

Let’s get into details.

Fintech is king. Five-year-old fintech startup, Sticitt, during the week announced closing a seed funding to scale its venture.

The raiser, according to Sticitt, was oversubscribed, and was led by Nustate Capital Ventures.

Tech correspondent Ridwan Adelaja highlighted that the South Africa-based company operates as a cashless payment platform simplifying payments within the South African education market.

The Russia-Ukraine war continued with the US hitting Mikron and other Russian tech firms with fresh sanctions.

The sanctions are expected to cripple the Russian economy as the world pressures it to halt the ongoing invasion of Ukraine.

According to the United States, the sanctions were “part of its crackdown on the Kremlin’s sanctions evasion networks and technology companies, which are instrumental to the Russian Federation’s war machine.”

The more the merrier as Microsoft adds Minit to its list of subsidiaries upon acquisition.

During the week, tech giant, Microsoft acquired mining technology vendor, Minit.

The acquisition, according to the report, will help Microsoft enable businesses discover opportunities in mining.

What is happening in Morocco? Al Mada, a Morocco-based investment company, during the week, launched a US$110 million pan-African venture capital fund.

The fund, according to the investment company, will be invested in fast-growing startups across the continent.

Tech correspondent Ridwan Adelaja noted that the company is controlled by the Moroccan royal family, and remains one of the largest private investment funds in Africa.

READ ALSO: Paris-based startup Malt acquires Comatch. 1 other thing and a trivia

Waspito, a Cameroonian e-health startup, announced closing a US$2.7m seed funding round.

The round, according to the startup, will help it grow its user base in its home market and expand to Ivory Coast.

Waspito was founded by Jean Lobe Lobe in 2020, with a mission to connect users with medical doctors via instant video consultations from their smartphones.

Another acquisition. Malt, a French startup, finalised the acquisition of Comatch, a competing marketplace playing in the same industry.

The Paris-based startup did not disclose details of the deal but noted that it was a mix of equity and cash.

The acquired startup Comatch started in Germany as a marketplace focused on management consultants and industry experts.

Meanwhile, we brought to your attention Mobilecooks, a foodtech startup based in Lagos, that is building Africa’s Uber for chefs.

We explained that the startup leverages technology to enhance the Nigerian food industry by solving some of the major bottlenecks that hampers food delivery and logistics.

In the Interview, the CEO of Mobilecooks, Daniel Audu, speaks with Ridwan Adelaja on the inspiration behind the startup, and other detail that is helping the startup to scale.

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