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

MyCover, Amazon, Meta, YallaHub, Hexacore, Kaco, were some of the names that made the headlines this week.

A Nigerian insurtech startup, MyCover.ai, has announced securing a pre-seed funding round of $1.25 million.

Also, Meta-owned messaging platform, WhatsApp, on Wednesday night experienced a widespread outage in Nigeria as users were unable to communicate via the app.

 

Let’s get into details.

 

A Nigerian insurtech startup, MyCover.ai, has announced securing a pre-seed funding round of $1.25 million.

The fund, which signifies the growing interest in Africa’s insurtech sector, highlights the potential for disruption in the continent’s insurance market. 

The funding, according to the startup, was led by Ventures Platform, a Pan-African venture capital fund. Analysts noted that the new raiser showed that investors recognize the potential of the startup’s business model and its vision for the future.

 

America’s cloud computing services, Amazon Web Services (AWS), has opened call for applications into its latest edition if AWS Global Fintech Accelerator.

The opening, which underscores the growing importance of fintech startups leveraging AI/ML and cloud technologies, will see the selection of 150 fintech startups from various regions.

The region of interest shall include North America, Europe, Middle East, Africa, and Latin America, as AWS aims to foster innovation and support founders in bringing smarter financial services solutions to the market.

 

Meta-owned messaging platform, WhatsApp, on Wednesday night experienced a widespread outage in Nigeria as users were unable to communicate via the app.

The collapse was noticed by this reporter around 09:15 pm local time.

Users across the country reported being unable to access the app or send messages, causing inconveniences and frustration.

 

A Dubai-based B2B e-commerce startup, YallaHub, has announced closing a $6 million in a pre-series A funding round. 

The company, which offers a “single-window service” enabling brands to scale up across the GCC region, made the announcement on on Wednesday, July 19, 2023.

The funding round, according to the startup, was co-led by multiple MENA-focused private investors, entrepreneurs, and syndicates. 

Notable investors include Fedor Ovchinnikov, the founder of Dodo Brands, and Regolith, an ecosystem for financial and investment instruments, among others.

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

A mobile game publisher, Hexacore, has received a $3.5 million investment round led by Dubai-based tech venture company, Scalo Technologies. 

The game company disclosed this in a press release, noting that the round saw the participation of other investors including Xsolla, Estoty, and several angel investors.

The infusion of fund is expected to further enhance the team and drive the development of innovative mobile games, utilizing hybrid monetization techniques like In-App Purchases, NFT Collectibles, and rewarded ads.

 

A Tunisian startup, Kaco, has raised fresh funds for investment in the mobility ecosystem.

The new investment which was secured from UGFS North Africa, an esteemed regional investment fund, will provide crucial financial support to Kaco.

The funding will enable the start-up to complete the construction of a production facility for the manufacturing of about one thousand scooters annually.

 

In a recent address by the Vice-President Kashim Shettima during the week while presiding over the National Economic Council (NEC) meeting on the petrol subsidy removal, in Abuja; a noteworthy discussion on the future of mobility was ignited, particularly with regards to CNG-powered mobility and the growing prominence of electric vehicles (EVs).

According to the Vice President, the federal government is seeking to “vigorously” pursue the mass deployment of compressed natural gas (CNG) vehicles in all states for public transportation.

As the world continues to grapple with climate change and the urgent need to transition towards more sustainable transportation solutions, it, therefore, becomes imperative to delve deeper into this conversation.

 

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