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

REdimension, Binance, Airalo, FastaMoni, Zuri Health, Remedial Health, Medius, Getir, Ethereum, were some of the names that made the headlines this week.

Binance, the leading cryptocurrency exchange, has reported a $90 billion worth of cryptocurrency-related assets traded in a single month in China, despite cryptocurrency trading being banned in the country since 2021.

Also, Nigerian health-tech startup, Remedial Health, has raised $12 million through equity investment and debt funding from venture capital and financial institutions.

 

Let’s get into details.

 

REdimension Capital, a real estate investment firm, has secured R200 million ($10.8 million) in funding to bolster South Africa’s property technology (proptech) start-ups.

This development was announced, revealing the first close of the REdimension Real Estate Technology and Sustainability Fund I.

With substantial support from stakeholders within the real estate sector, the fund’s objective is to invest in early-stage technology companies that offer tangible advancements in property development, management, and engagement processes.

Binance, the leading cryptocurrency exchange, has reported a $90 billion worth of cryptocurrency-related assets traded in a single month in China, despite cryptocurrency trading being banned in the country since 2021.

This unexpected surge has made China Binance’s largest market by a significant margin, accounting for an impressive 20% of the exchange’s global volume.

Binance, which originated in China, withdrew from mainland China in 2017 amidst a regulatory crackdown on cryptocurrency trading.

Airalo, the eSIM marketplace revolutionizing global connectivity, has raised an impressive $60 million in its Series B financing round.

Led by e& capital, the investment arm of the global technology group e&, this financing brings Airalo’s total funding to $67.3 million.

The Series B round boasts the participation of renowned investors, including Antler Elevate, Liberty Global, Orange, T.Capital, Rakuten Capital, Singtel Innov8, Telefónica Ventures, Sequoia Capital India, SEA’s (now known as Peak XV Partners) Surge, KPN Ventures, and I2BF Global Ventures.

Nigerian startup FastaMoni Technologies has unveiled its pioneering online platform, EduPali, to address the pressing challenges of soaring education costs and limited accessibility to quality education in Africa.

EduPali, according to the team, serves as a digital payment platform designed to streamline school fee payments while offering other benefits to both educational institutions and students across the continent.

Speaking on the development, Adetola Adele, the co-founder, and CEO of FastaMoni, emphasized that the company is dedicated to optimizing the payment process as well as ensuring affordability and flexibility for parents.

Zuri Health, a digital healthcare firm with a mission to revolutionize healthcare through cutting-edge technology, has crossed a new milestone as it drives toward its vision of achieving a healthier Africa.

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

The company which was founded in 2020 by entrepreneurs Daisy Isiaho, Ikechukwu Anoke, and Titilola Olaolu-Hassan, continues to push through with digital innovation that offers comprehensive healthcare solutions.

In a new partnership deal, Zuri Health has secured a strategic investment from Marula Square, a venture capital company with a strong focus on supporting African entrepreneurs.

Nigerian health-tech startup, Remedial Health, has raised $12 million through equity investment and debt funding from venture capital and financial institutions.

Remedial Health raised $8 million after a Series A equity funding round, which was led by US-based venture capital firm, QED Investors and co-led by Ventures Platform, with Ycombinator, Tencent and Gaingels also participating in the investment round.

In a statement sent to Ripples Nigeria on Tuesday, Remedial Health disclosed that the firm also secured $4 million in debt funding from a consortium of local and international financial institutions.

Medius has announced the complete acquisition of Expensya, as confirmed by Karim Jouini, Expensya’s CEO.

Expensya, founded in Tunisia in 2014, offers advanced expense management solutions to over 6,000 customers in more than 100 countries, serving 700,000 active users.

Their seamless integration with leading ERP applications optimizes financial control within the Office of the CFO.

Turkish startup, Getir, has announced its decision to withdraw from Italy, Spain, and Portugal.

This move comes as the company seeks to maintain a more sustainable operation, especially in light of customers’ return to in-person grocery shopping as pandemic restrictions ease.

Ripples Nigeria gathered that the startup planned to continue its operations in the UK, the US, Germany, the Netherlands, and Turkey, which currently account for 96% of its revenues.

A panel of cryptocurrency and fintech experts has forecasted a bullish climb for Ethereum throughout 2023 and beyond.

The second-largest cryptocurrency is projected to reach $2,741 by the end of 2023, with an optimistic long-term price target of $16,414 by 2030.

Experts attribute Ethereum’s price surge to various factors, including its successful upgrade to a proof-of-stake model, making it more efficient and deflationary.

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