Connect with us

Tech

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

Published

on

Twitter, Balad, Google, Salad, TWIG, Mozn, Dojah, Deliverect, MBZUAI, TDH, DisrupTech, Abeokuta Tech Party, Jendamark, were some of the names that made the headlines in the tech ecosystem this week.

A Nigerian identity verification solutions company, Dojah, has announced launching an advanced fraud detection tool, EasyDetect, that empowers businesses to identify and prevent fraudulent activities on their platforms.

Also, in the latest rating made by Financial Times, Zone, a blockchain network for payments, has been named Africa’s Fastest Growing Blockchain Company in 2023.

Let’s get into details.

Egyptian fintech startup Balad has announced closing a seven-figure USD pre-seed round of funding to launch its remittances platform amongst other developments.

The startup made the announcement in a statement seen by Ripples Nigeria on Friday, May 12, 2023.

Ripples Nigeria gathered Balad was founded in 2022 by Adham Azzam, Sally Asaad and Mohamed Assem.

Google has on Froday released MusicLM, a new experimental AI tool that can turn text descriptions into music.

The company stated that the new product was designed for Android and iOS users looking to try artificial intelligence for music.

According to Google, users can specify instruments like “electronic” or “classical,” as well as the “vibe, mood, or emotion” they’re aiming for, as they refine their MusicLM-generated creations.

A Nigerian founded startup, Salad, has announced launching an offering that caters to the financial health of employees in Africa.

This is contained in a press statement signed by the CEO, Chikodi Ukaiwe, where he noted that the tech-enabled offering is hoped to enhance employees general wellbeing and productivity.

According to Chikodi, the startup was founded in 2022 alongside the CTO, Seunfunmi Omotunde.

 

UAE-based fintech TWIG has closed an undisclosed pre-Seed round backed by Phoenician VC, MMK Capital, Soul Ventures, regional family offices and other angel investors.

TWIG, through its CEO Chafic Idriss, made the announcement in a press release on Thursday, May 11, 2023.

The two year old startup was founded by Chafic Idriss, Karam El Dik and Rayan Antonios, TWIG is a bank-agnostic automated saving platform.

 

Saudi Arabia’s Mozn, a market leader in enterprise artificial-intelligence technologies, on Thursday, announced a regional expansion that will take the company into the thriving AI, finance and fintech markets of the United Arab Emirates and the GCC.

The startup made the announcement at the Dubai Fintech Summit, held at Madinat Jumeirah, Dubai.

According to the startup, its expansion into the GCC market through its UAE office will help provide innovative regulatory compliance and anti-fraud solutions powered by advanced AI.

 

A Nigerian identity verification solutions company, Dojah, has announced launching an advanced fraud detection tool, EasyDetect, that empowers businesses to identify and prevent fraudulent activities on their platforms.

The CEO of Dojah, Tobi Ololade, confirmed the development in a statement on Wednesday.

The Y Combinator alumni is a provider of identity verification solutions, helping African businesses to build smoother interactions with real users.

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

 

A Belgium-based food delivery software provider, Deliverect, has acquired UAE-based foodtech ChatFood.

This is contained in a press statement seen by Ripples Nigeria on Wednesday.

The Wamda Capital portfolio company was founded in 2018 by Benjamin Mouflard and Vinicius Rodrigues.

 

The UAE’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has signed an MoU with Israeli VC fund OurCrowd, to accelerate the growth of the university’s AI technology ecosystem.

According to both parties involved, the partnership will create and manage several initiatives aiming to accelerate and catalyze the growth of the AI technology ecosystem on the university’s campus in Masdar City, Abu Dhabi.

“Creating an AI-focused venture capital investment fund with the aim of attracting both local and global AI technology companies to scale up globally from Abu Dhabi.

 

American microblogging site, Twitter Inc, has announced intent to remove accounts that have been inactive for several years.

The CEO, Elon Musk, made the announcement in a recent tweet, noting that the action was “important to free up abandoned handles.”

According to the Twitter’s billionaire owner, inactive accounts will be archived, but did not state a date when the new development will commence.

 

A UAE-based traveltech startup, The Digital Hotelier, has announced raising a six-figure pre-Seed round.

The new raiser, according to the startup, comes from Select Ventures Holding, alongside a group of angel investors from both the UAE and Saudi Arabia.

The startup was founded in 2022 by Qutaiba Alali and Ali Fouad, offering a software solution for guests and tourists to book and pay for services at hotels.

 

DisrupTech Ventures, an Egypt-based VC fund, has closed a fresh $5 million investment from Proparco, a subsidiary of the AFD Group focused on private sector development.

DisrupTech Ventures made the announcement in a press statement seen by Ripples Nigeria on Tuesday, May 9, 2023.

Ripples Nigeria gathered that the VC was founded in 2021, as an early-stage VC fund that aims to provide Seed capital to up to 28 startups with a prime focus on fintech.

 

The Ogun State Government in collaboration with the tech-enabled marketplace, GetFundedAfrica, will organise a two-day symposium for players in the information technology industry later this month.

GetFundedAfrica disclosed this in a statement posted on its website on Monday.

The Abeokuta Innovation and Tech Party slated for May 26 and May 27 will bring together some of the biggest personalities and thought leaders in the industry.

 

A South African company based in Gqeberha, Jendamark Automation, has been announced award winner of the Technology Innovation of the Year at the Africa Tech Week Awards.

According to the organizing body, the prize was given to the company for its Odin Manufacturing software, which aims to digitise and improve production efficiencies for small to medium-sized enterprises.

The ceremony, which was held in Cape Town, is the second consecutive award for Jendamark Automation, as it clinched the same competition category at last year’s event.

 

An Egypt-based fintech, Balad, has announced raising a seven-figure pre-Seed round led by Acasia Ventures.

This is contained in a press statement seen by Ripples Nigeria on Monday, May 8, 2023.

According to the statement, the round saw the participation of investors including Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices.

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