Zoom Video Communications, Inc. has announced new features for education in response to requests from teachers and administrators. These features span Zoom’s Chat and Meetings offerings and are designed to support teachers who need to engage and manage students joining class remotely or submitting homework assignments. Some of the new features…
Author: Oluwasegun Olukotun
Egypt-based healthtech Rology has closed a pre-Series A round from Egypt Ventures, Sequence Ventures, Waseel, Tawaref, and Viktoria Ventures, alongside previous investors including HIM Angels, AAIC, DAI, and Cubit Ventures. The amount raised was not disclosed. Founded in 2017 by Amr AboDraiaa, Mahmoud Eldefrawy, Moaaz Hossam, and Bassam Khallaf, Rology…
IFC has partnered with the Lagos State Government to support the development of two bus corridors in the city. The projects are expected to benefit more than 150,000 passengers per day including by reducing commute times for residents. The partnership is expected to also increase access to public transportation and reduce vehicle…
Clubhouse is rolling out the dark mode feature on its platform after several requests from the members of its community. In its announcement, the social audio app said, “We’ve heard your pleas. We’ve spotted your tweets. We’ve seen your hacked together solutions and mocked up versions of the UI of…
Global cryptocurrency platform, Luno, that aims to put the power of crypto in everyone’s hands, has today announced that it has surpassed 10 million customers across over 40 countries. Luno has gained an additional 1 million customers in just 6 months. The news follows a successful year that saw Luno…
TikTok has expanded its effects offerings with the creation of Effect House which allows anyone to build Community Effects for TikTok. Effect House has been in closed beta since last fall, and today the company has open the beta to all creators, designers, and developers from around the world, inviting…
The International Finance Cooperation (IFC) has pledged a $15 million investment in Algebra Ventures’ $90 million second fund. IFC’s $15 million investment in Algebra Fund II will help support the growth of roughly 20 technology startups, primarily in Egypt but also in Africa more broadly. The fund, which has a…
One of Africa’s leading digital money transfer providers and a business of Cassava Technologies, Sasai Remit, has entered into a partnership with Qoki Zindlovukazi, a United Kingdom-based women’s networking, and empowerment organisation. The partnership has enabled both organisations to empower thousands of Zimbabweans to use a safe and secure fintech…
Egypt-based edtech Sprints has raised $1.2 million in a Series A funding round led by the Alexandria Angels Network as well as members of MED Angels and AUC Angels, Cubit Ventures, Challenge Fund, EdVentures, Falak Startups, and Cairo Angels. Sprints is a talent support company in the technology sector, providing a…
IFC has agreed to issue US$18 million in debt financing to Robust International Pte. Limited (Robust), a Singapore-based agricultural company with operations across the Asia-Pacific region and sub-Saharan Africa. Founded in 2006, Robust primarily trades in specialty crops such as cashews, sesame, ginger, and gum arabic, among others. The company…
African Export-Import Bank (Afreximbank) has approved the launch of the Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA), a programme of credit facilities that the Bank has developed to manage the impacts of the Ukraine crisis on African economies and businesses. The programme amounts to US$ 4 billion. The…
The LEGO Group and Epic Games have entered into a long-term partnership to build a metaverse safe and fun for children and family. The two companies will team up to build an immersive, creatively inspiring, and engaging digital experience for kids of all ages to enjoy together.The family-friendly digital experience…
Egypt-based Mergers and Acquisitions Advisory Firm PIE has acquired Exits, a regional online marketplace for buying and selling websites, apps, and traditional businesses for an unknown amount. Founded in 2022 by Mohamed Aboulnaga, PIE is a firm focused on mergers and acquisitions for startups and SMEs. Exits is a Cairo-based…
Saudi Arabia-based company GLT Express, the logistics arm of Global Logistics and Technology (GLT) Holdings, has extended its activities to the Egyptian market by acquiring the Egyptian logistics company Gallop Express, as part of GLT’s plans to expand its operations beyond the GCC countries and into further countries in the…
In December 2021, Equinix announced plans for an expansion into Africa through an intended acquisition of leading West African data center and connectivity solutions provider MainOne. Today it has announced it has completed the deal to acquire MainOne for an enterprise value of US$320M, marking the beginning of its expansion…
African private equity fund manager, CardinalStone Capital Advisers (CCA), has appointed Shirley Somuah as a Partner, as it strengthens its presence in Ghana with a new office opening in Accra in Q2. This will be CCA’s first physical presence in Ghana and will support the fund manager’s current portfolio, as…
Egypt-based healthtech O7 Therapy has raised a $2.1 million Seed round, led by Hikma Ventures, with the participation of C-Ventures, Lotus Ventures, alongside angel investors. Founded in 2019 by Ashraf Bacheet, Ashraf Adel, and Nader Iskander, O7 Therapy is a technology-enabled therapeutic platform, with a network of bilingual psychiatrists and…
TikTok is rolling out the latest addition to its creativity toolkit, Library, a new in-app creation tool with content from GIPHY that provides an opportunity to access a wide range of content, opening up even more creative possibilities. Library also unlocks a new category of entertainment content, making it easy…
Egypt-based robo-advisory startup Xpovi has launched after raising a $300,000 pre-seed round led by a group of angel investors. Founded by Mostafa Hisham, Mohamed Marei, and Taher Seif, Xpovi offers automated and real-time business and financial planning services to startups. The pre-Seed round has enabled the startup to grow its…
DabaDoc and Orange are launching DabaDoc Consult, a brand new service allowing the African diaspora residing in Europe and the United States to instantly offer a video medical consultation to their relatives living in their country of origin. The launch of the exclusive service comes in response to a concern…