This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Techstars shortlists three Nigerian startups for accelerator
American seed accelerator, Techstar, has shortlisted three Nigerian startups for participation in its Techstars NYC accelerator program.
The shortlisted startups include Torche, Vesti, and Voyance, according to the Techstar team.
Since its inception in 2006, the company has accepted over 1,600 companies into its programs with a combined market capitalization of $18.2bn USD.
As part of benefits, the three Nigerian startups are set to receive US$20,000 in equity funding and access to other support services in return for a six percent stake.
In addition, they will access learning opportunities, networking, and coaching from the accelerator program.
On of the startup, Torche, is a payment solution startup that enables customers in Africa make payments and other transactions with their fingerprints through biometric POS terminals.
The second startup on the list, Vesti, operates as a neobank providing financial services, information and community for international migrants who do not have access to banking.
The third startup, Voyance, provides a no-code data infrastructure platform that makes data teams more productive by automating complex data processes.
Tech Trivia: Each request made to a web server is also called a what?
A Page View
Answer: see end of post
2. Nigeria’s Digital Bank, Umba, closes $15M in Series A funding
A Nigerian digital banking company, Umba, has closed a $15M in Series A funding.
Umba’s CEO, Tiernan Kennedy, confirmed the development in a press release to the media.
The funding, according to Tiernan, was led by Costanoa Ventures, and saw the participation of Tom Blomfield, the co-founder of Monzo, and previous backers including Lachy Groom and ACT Ventures.
Umba is an African digital bank with claims to offer free bank accounts and financial services to its customers.
The San Francisco-based company was founded in 2018 by Barry O’Mahony, and Tiernan Kennedy.
Umba’s CEO, Tiernan Kennedy, who spoke on the development, noted that the new raiser and partners would help fuel the growth of the company.
He said: “This is a great milestone for Umba, and we’re excited to bring in new partners to fuel our growth.
“There is great potential for Umba to provide useful, accessible products and services that financially empower underserved customers.”
3. Saudi game startup, Spoilz Games, secures $700k
A Saudi Arabia-based company, Spoilz Games, has secured a 2.6M SAR ($700k) in pre-seed funding round from angel investors.
This was contained in a press release from the startup’s CEO, Musab Almalki.
The raiser, according to Musab, would be used to further develop and publish high-quality, entertaining games that create memorable experiences for users.
He said: “MENA’s gaming industry is expected to grow rapidly in the next few months, creating a need for quality content to meet users’ expectations.
“This fund will enable us to grow and publish games that compete globally.”
The startup was founded in 2020 during the Covid-19 pandemic.
Trivia answer: Hit
A hit is a metric used in website analytics. While “hits” and “visits” are sometimes used interchangeably, they are two different things.
A visit is recorded when a user visits a webpage. A hit is recorded for each resource that is downloaded from a web server.
Therefore, it is common for hits to outnumber visits, often by a ratio of more than 10 to 1.
By Kayode Hamsat
Join the conversation
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.
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...
INVESTIGATION: Uncompleted Old Enugu-Onitsha Road brings untold hardship, tears to commuters, residents of Enugu communities
Ugwu Obinna’s younger sister was killed after a truck driver transporting cows rammed into her shop located at the Okpatu...
INVESTIGATION: Students sit on floors, under leaking roofs as multi-million naira project is nowhere to be found in Zamfara
Suleman Tukur, 15, an SS 2 student of Government Day Secondary School (GDSS) Bakura in Bakura local government area of...