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

Okra, Snap, GAM3S, Rentoza, BWS, Btrust, Itana, TruDoc, mpharma, Pesapeer, were some of the names that made the headlines this week.

Nigerian startup Itana, formerly Talent City, has secured $2 million in pre-seed funding to develop Africa’s first Digital Free Zone.

Also, Btrust, the non-profit backed by Block CEO, Jack Dorsey and rapper Jay-Z, has announced the acquisition of Qala, an institution dedicated to cultivating African talent in Bitcoin and Lightning engineering.

 

Let’s get into details.

Okra Solar, a startup with a vision of transforming global energy access, has announced securing a $12 million in Series A funding.

This investment, according to the startup, underscores the pressing need to address the energy disparity in developing regions where access to electricity remains a daunting challenge.

The Series A funding round was led by One Ventures and witnessed substantial participation from renowned entities, including FMO, Susquehanna Private Equity Investments LLP, Autodesk Foundation, and King Philanthropies.

 

Snapchat, the popular social media platform, has launched a series of enhanced safety features designed to discourage interactions between teenagers and strangers on its app.

These changes come after years of scrutiny, with lawmakers and officials questioning Snapchat’s ability to keep teens safe while using the platform. The new restrictions primarily target the accounts of users aged 13 to 17 on the app.

In 2022, Snapchat initiated measures to limit the visibility of teenagers’ accounts in its “Quick Add” recommendations, reducing the likelihood of strangers discovering young users on the platform.

 

GAM3S.GG, previously known as Polkastarter Gaming, has closed a $2 million seed funding round, led by Mechanism Capital and featuring participation from major venture and angel investors.

This fundraising coincides with a rebrand of the project to align with its new vision.

The impressive list of investors includes Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, Emurgo Ventures, Eden Ventures, Mix Marvel Ventures, 4SV, CommonWealth Capital, Venly Ventures, TKX Capital, SkyVision Capital, Compute Ventures, MarketAcross, and several angel investors in the Web3 gaming space.

 

South African online subscription platform Rentoza has secured $6 million in funding from Alitheia IDF and the Vumela Enterprise Development Fund. This substantial investment is set to drive innovation and expansion in the African e-commerce market.

Alitheia IDF, known for its commitment to building businesses and communities across Africa, recognized Rentoza’s potential. The Vumela Enterprise Development Fund, focused on supporting black-owned SMEs in South Africa, also sees promise in Rentoza’s scalable solution and management team.

This funding will be allocated to various critical areas, including asset purchases, marketing, talent acquisition, and expansion. Rentoza aims to transform the South African economy by providing accessible and flexible shopping experiences for consumers across the continent.

 

Be Wireless Solutions (BWS), a Tunisian IoT specialist in resource-saving solutions, has raised $1.6 million in a funding round led by Smart Capital and Capsa Capital Partners.

This investment aims to revolutionize IoT technology in Europe and beyond. BWS has seen impressive growth with a 200% increase in connected devices, highlighting the demand for IoT solutions that optimize resource usage.

Their platform enables efficient management of resources like electricity, water, fuel, and gas for various clients, including public and private entities.

 

Btrust, the non-profit backed by Block CEO, Jack Dorsey and rapper Jay-Z, has announced the acquisition of Qala, an institution dedicated to cultivating African talent in Bitcoin and Lightning engineering.

This was revealed in a press statement by the company made public on Wednesday, September 6, 2023.

This acquisition is expected to transform Qala into the Btrust Builders Programme, offering senior African software developers the opportunity to delve into Bitcoin and Lightning development.

 

Nigerian startup Itana, formerly Talent City, has secured $2 million in pre-seed funding to develop Africa’s first Digital Free Zone.

Itana, which aims to create an online jurisdiction for the digital economy, provides the ideal policies, services, and technology for global digital and service businesses to operate and scale across Africa.

Itana’s goal is to improve the ease of doing business, attract foreign direct investment, and generate employment opportunities.

 

UAE’s leading telehealth and virtual primary care provider, TruDoc, has received an investment from Pulsar Capital, a regional private equity firm specializing in healthcare, e-commerce, and fintech sectors.

Pulsar Capital’s investment aims to enhance TruDoc’s product offerings and expand its reach across South Asia, the GCC, and Africa.

TruDoc, established in 2011, focuses on bridging the gap in accessibility and affordability in healthcare by offering comprehensive care for individuals dealing with acute and chronic illnesses.

 

Ghanaian healthtech platform mPharma, founded in 2014, has made a significant workforce reductions amid challenging economic conditions in Africa.

The startup, which raised around $90 million in funding, including $30 million in 2022, has announced the layoff of 150 employees due to macroeconomic conditions linked to the devaluation of the Naira.

This step is aimed at ensuring the continued service of over 200,000 patients who rely on mPharma’s Mutti service, the startup’s online pharmacy service.

 

Pesapeer, a digital finance company, has undergone a rebranding effort to redefine its core identity and emphasize localizing the global money transfer experience for immigrants.

The rebrand includes changes that enable effortless transactions across more than 50 countries and the introduction of a versatile multi-currency wallet.

The shift in focus reflects Pesa’s commitment to providing customer-centric, digitally-driven, and globally-oriented payment solutions, including facilitating frictionless money transfers, simplifying payment processes for students, and streamlining cross-border fund transfers.

 

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