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VALR closes $50m Series B to expand across Africa. 1 other thing and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today.

1. VALR closes $50m Series B to expand across Africa

Three year old South African cryptocurrency exchange, VALR, has announced closing a US$50 million Series B funding round.

The round comes as the startup look to expand across the continent.

Founded in 2019, the round puts the valuation of the company at US$240 million.

VALR is a digital asset platform that allows customers to buy, sell, store and transfer Bitcoin and 60 other cryptocurrencies – the widest selection of any platform in Africa – seamlessly and securely.

Since launch, the startup has processed over US$7.5 billion in trading volume, and serves over 250,000 retail customers and 500 institutional clients from across the world.

Described as an oversubscribed round, the US$50 million Series B was led by Pantera Capital, and saw the participation of Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR, Third Prime and Avon Ventures, along with existing investors Bittrex and 4Di Capital, and others.

Tech Trivia: Kerning can be applied to what type of data?

A Textual data
B Image data
C Audio data
D Video data
Answer: See end of post

READ ALSO: Ride hailing startup, Bolt, raises $711M in new funding round. 1 other thing and a trivia

2. Egypt’s Milezmore secures $5m pre-seed round from Brimore

Milezmore, an Egyptian startup, has secured US$5 million in pre-seed funding.

The startup was founded in 2021 to provide cloud fulfilment, last mile delivery, and customisable operations solutions to customers in Egypt.

According to the startup, the raiser was led by Brimore, an African social commerce platform and parallel distribution channel.

Serving Egyptians and residents in Egypt, Milezmore aims to enable merchants to capture high growth potential by providing supercharged cloud logistics solutions.

In addition, the startup provides a full spectrum of reliable, scalable, and cost-efficient fulfilment solutions powered by cutting-edge technology that allows companies to provide a seamless fulfilment experience to their customers.

Trivia Answer: Kerning

Kerning refers to the spacing between the characters of a font. Without kerning, each character takes up a block of space and the next character is printed after it.

When kerning is applied to a font, the characters can vertically overlap. This does not mean that the characters actually touch, but instead it allows part of two characters to take up the same vertical space.

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