TC Daily

TechCabal Daily – SUV, tricycle or okada?

Kay Ugwuede 8th January 2020

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TOGETHER WITH FLUTTERWAVE & AFROBYTES

08 – 01 – 2020

Welcome to TC Daily! Please subscribe to our newsletter if you are yet to and join us on Telegram as well for all technology stories from across Africa.

There are many payment partners you could align your business with but if you are passionate about growing your business while giving your customers’ their preferred method of payment, Flutterwave is your preferred payment partner. We provide you with the tools and resources to grow your business, because we know it’s not just about payments, it’s about scaling up. Click here to see how we can do this with you this year.

$US1.3 billion. This is the amount of venture funding African startups raised in 2019. In Kenya, while the total number of deals that occurred in the last year was 5 short of the year before that, the cumulate value of investments into the ecosystem was an impressive 300% higher than last year’s. Branch, Bboxx and Carepay are the startups at the top of the funding table. WeeTracker’s 2019 funding report has more. Take a look!

A new ride-hailing company has launched in Lagos and is offering some interesting incentives to win over riders already attached to the available services and market players in Lagos. With Solride, riders can request what vehicles they want to ride in (from a list of option which include an SUV, a tricycle or an okada or motorbike); drivers determine what the trip fares are controlling what to charge during peak and off-peak periods; pay or receive payments seamlessly through the app. The service is from a company called Solchos Kefani and plans are already underway for five new countries and more cities in Nigeria in Q1 2020.

In more funding reports for last year, another by MAGNiTT has said startups in the MENA region raised over US$700 million in 2019, a 13% increase from 2018. Egypt led the region in the number of deals closed while the UAE led in the amount received in investments in 2019.While the fintech sector closed more deals, the mobility/logistics sector accounted for the highest funding amounts thanks to Swvl’s US$42 million and TruKKer’s US$23 million raise.

Singaporean early-stage venture firm Antler, has raised US$50 million led by Facebook to expand its portfolio and operations in 2020. Antler runs programmes in eight global locations including Nairobi, Kenya, will soon launch in Jarkata and 5 new locations in 2020. antler, since its launch in 2017, has invested in over 120 companies addressing global challenges regardless of their background.

The countdown to Afrobytes 2020 continues. Afrobytes is the premier event that brings together entrepreneurs, innovators, investors, and more to explore business opportunities between the African tech ecosystem and players in the global tech world. Here are key reasons why you should attend Afrobytes 2020:

Finance: pitch world-leading Africa-focused tech funds
Network: connect with global companies and African tech leaders
Scale: find tech partners at the largest startup campus
Feature: talk to international media covering African markets

Get your early bird ticket here

Kendi Nderitu has been appointed Microsoft’s Kenya Country Manager. She comes with more than 15 years of experience in the industry. Prior to her appointment, Nderitu served as the General Manager of the East, West and Central Africa Cluster for Check Point Software. She has also previously worked at Oracle, HP and Intel leading and implementing business strategies across sub-Saharan Africa. In her new role, she will be tasked with developing and maintaining effective relationships across the company’s subsidiaries, and regional sales and marketing departments.

Iyin Aboyeji’s Future Africa initiative has launched an early-stage investment fund. Under the Future Africa Fund, up to 20 founders will be supported with up to US$50,000 of capital each year. Aboyeji launched Future Africa in March 2019 alongside Olabinjo Adeniran and Adenike Sheriff to spark conversations about the future of the continent. The fund has already made investments in 15 startups. With an additional cofounder, Chuba Ezekwesili, the fund is also looking to focus on coaching and building a more engaged founders community through the Future Africa Venture School (FAVS).

Startups from Africa and elsewhere are invited to apply for the second cohort of the Singapore Tourism Accelerator organised by Found8 in partnership with the Singapore Tourism Board. The programme is seeking businesses with innovative solutions that can power the travel and tourism industry. Be sure to apply before January 15 if this is up your alley.

Over the past year, we’ve brought together industry stakeholders, policymakers, investors and key sector players in various sectors from healthtech to edutech to spur conversations about these sectors and explore new opportunities and/or collaborations.

Come February 28, 2020 the next TechCabal townhall will focus on:
Emerging technologies including 5G, Artificial Intelligence, Augmented Reality/Virtual Reality, Cryptocurrencies, Robotics and 3D Printing. TC Townhall: Emerging Tech will examine how these technologies are changing (and will change) how Africans live and do business.

Want to attend?
Indicate interest by filling this form. Are you a member of the press, fill this form to qualify for a pass. Do you have a startup or project with any of these technologies at the core? Tell us about your project or startup here.

Have any ideas about the event or suggestions about speakers? Send us an email via team@techcabal.com and we just might make your wish come true. For sponsorship inquiries, please email Chidi via chidi@bigcabal.com.

Reading list: This is a somewhat long but insightful read from CB Insights on why startups fail. Top on that list is not funding as Nichole Yembra rightly said when TechCabal spoke to her for My Life In Tech.

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Have an awesome day!

We’ll see you tomorrow.

– Kay

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TechCabal Daily – SUV, tricycle or okada?

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