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

Developments around the tech space, this week, ended on an impressive note with news of a new company acquiring an older company.

One year old healthtech startup CridMD consolidated the acquisition of pharmaceutical company Charisland Pharmaceuticals.

The week also featured the launch of a new accelerator as Nigeria-based GreenHouse Capital launched pan-African fintech accelerator.

Let’s discuss.

CridMD’s acquisition

Nigerian e-health startup CridMD, during the week, acquired retail pharmaceutical company Charisland Pharmaceuticals (CP).

The development comes as the new startup looks to further fulfil its mission of delivering drugs straight to patients’ homes across Nigeria.

The news generated buzz given the ages of the companies involved.

While the acquiring company is only a year old, the acquired entity had been in business for more than 30 years.

Fintech accelerator launch

Nigerian VC firm, GreenHouse Capital, launched a flagship accelerator programme GreenHouse Lab to offer startups access to mentorship and funding opportunities.

Praised for its initiative, the leading African fintech investment platform focuses on supporting early-stage companies.

With the new launch, The VC looks to support world-class emerging market entrepreneurs building the next wave of innovative technology companies.

READ ALSO: Nigeria’s GreenHouse launches pan-African fintech accelerator. 2 other things and a trivia

Nigeria’s low budget electric car plan

Also during the week, the Federal Government disclosed plans to launch a low-cost electric vehicle.

According to official statements, the decision is in line with the culture, climate, terrain and economic structure of the country towards the end of this year.

Director-General, Nigerian Automotive Design and Development Council (NADDC), Jelani Aliyu, said the vehicle was still in its design stage and would be developed to be the most applicable for Nigeria and Africa.

Our win

Ripples Nigeria bagged Google’s international award for innovation during the week.

This comes as the digital news publishing platform seeks to create a historic project for global consumption.

On Tuesday, the platform was announced as one of the winners of the Google News Initiative (GNI) Innovation Challenge for Middle East, Turkey and Africa.

New insurance app

Lagos-based insurance company, AfriGlobal Insurance Brokers Limited, joined a list of startup with a new product, launching a new app aimed to revolutionise insurance business in Nigeria.

According to the insurance company, AfriCover247 is designed to work round-the-clock as a digital insurance transaction platform, assisting businesses, individuals and technology providers access and redistribute insurance products with ease.

The new app is built to enable 24- hour, seven days a week insurance transactions to include claims management.

The GetEquity launch

Lagos-based VC, GetEquity, on Monday, launched a new funding platform which comes after a six-figure pre-seed funding round led by GreenHouse Capital.

According to the VC, the venture-funding platform seeks to connect entrepreneurs and investors.

The VC will make it possible for founders to list themselves on the GetEquity platform and market to institutional investors and public users.

Remark:

Thank you for joining us this week. That will be all. Take care and stay here for more updates.

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