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

mPharma, ECC group, MetaFi, Adobe, Figma, Turaco, MVP Match, Starlink, Meta, Google, Verto were some of the names that made the headlines in the tech ecosystem this week.

A UAE-based metaverse startup MetaFi, during the week announced, securing a $3 million investment to build its first core product.

Also, during the week, Nigeria’s Internet Exchange Point (IXP) announced a partnership with Africa Data Centers to boost expansion into Africa.

Let’s get into details.

The first story this week is about mPharma, an Accra-based health-tech startup, that acquired a large stake in Nigeria’s HealthPlus.

Gregory Rockson, the Chief Executive Officer and co-founder of mPharma, confirmed the acquisition in a statement on Friday.

What you should know: Ripples Nigeria earlier reported that the Ghanaian startup announced its new raiser of $ 17 million two years ago.

Following up, another company, ECC group, an Egyptian cosmetics firm, announced a majority stake acquisition in a beauty products marketplace Source Beauty.

Read also:Ghana’s mPharma acquires large stake in Nigeria’s HealthPlus. 2 other stories and a trivia

Lydia Schoonderbeek, the founder and CEO of Source Beauty made the disclosure in a press statement seen by Ripples Nigeria on Friday.

What you should know: The female-led beauty product marketplace, Source Beauty was launched in 2018 by Lydia Schoonderbeek.

In UAE, a local metaverse startup MetaFi secured a $3 million investment to build its first core product.

Matt Danilaitis, Founder of MetaFi, confirmed the new funding in a press release on Friday.

What you should know: The funding was raised from DoublePeak Group, Maven Capital, OKX Blockdream Ventures, Megala Ventures, Magnus Capital, Legion Ventures, SL2 Capital, X21 Digital, Good Games Guild, MetaGaming Guild, Mintable Go! Fund, with participation from Athena Ventures.

In the US, multinational computer software company, Adobe, announced acquiring web design platform, Figma in a deal worth $20 billion in cash and stock.

Adobe made the announcement via its verified Twitter handle on Thursday.

What you should know: The deal, according to the company, took the form of half cash and half stock.

In East Africa, Kenya’s insurtech, Turaco, secured a $10 million Series A equity funding in a round led by AfricInvest, through its Cathay Africinvest Innovation Fund (CAIF), and Novastar Ventures.

Ted Pantone, Turaco co-founder, and CEO, confirmed the new funding in a media release on Thursday.

What you should know: Patone also confirmed that Enza Capital, Global Partnerships, Zephyr Acorn, Operator Stack, Asi Ventures Limited, and Push Ventures, also participated in the round.

Another major round we tracked during the week goes to German Tech-talent marketplace MVP Match, securing €5 million ~$5 million seed funding from Stage 2 Capital to expand footprints in Africa and Europe.

MVP Match CEO, Levin Wense, disclosed the new funding in a media release on Thursday.

What you should know: Wense founded the startup in 2020 together with Philipp Petrescu.

In Nigeria, Starlink, an internet service company owned by world’s richest man, Elon Musk, has finally been added to the list of approved Internet Service Providers (ISPs) in Nigeria.

Musk’s internet service was listed among the approved list four months after the billionaire announced to his 200 million followers on Twitter that the Nigerian government had approved the operation of Starlink.

What you should know: Recall SpaceX representatives had met with Nigerian Communications Commission (NCC) representatives in May 2021 to discuss operational license with the Nigerian telecommunications regulator.

In Nigeria, Internet Exchange Point (IXP) has announced a partnership with Africa Data Centers to boost expansion into Africa.

The latest development was confirmed by Dr. Angus Hay, Africa Data Centres group executive for IT & partnerships in a statement on Monday.

What you should know: IXPN is a non-for-profit and membership-based organization that provides a platform where networks interconnect directly within Nigeria.

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