Happy Mid-week guys!
Welcome back from a short break to the mid-week edition of the Big 5 Daily! We bring you the current tech gists that made the news today.
Before we dive into the Big 5, have a go at our bonus news from Gokada.
Gokada is about to undergo a phoenix-like process. The on-demand motorcycle startup in Nigeria is shutting down on the 14th of August 2019. This will allow it time to re-brand and like the phoenix, rise again from the ashes brand new, with better offerings and strategies on the 26th of August 2019.
Still on on-demand motorcycle startups, Max.ng just turned 4! We congratulate them for their resilience in the ride-hailing sector in Nigeria.
Are you ready for the Big 5? I know you are!
Please dive in!
Guess what? Trella, a Cairo-based trucking marketplace has joined YCombinator’s Summer 2019 batch, in a bid to disrupt the trucking industry in MENA (the Middle East and North Africa). The company intends to leverage YC to partner with other YC companies, alumni and to access YC’s network of investors, mentors, and partners. Nice move! What do you think?
Have you heard? Kobo360, a Nigeria-based digital logistics platform that facilitates end-to-end haulage operations, has secured $30 million funding. The company plans to utilize the whopping sum in building a Global Logistics Operating System [G-LOS] which will facilitate trade across Africa and its emerging markets. Kobo360 also plans to expand to 10 new African countries. What do you think?
Also, Nigeria-based payment application development firm, TechAdvance has raised $1 million in funding. The fintech company secured the funds from Bahrain-based energy investment firm Lamar Holding. They will leverage the funds to facilitate their cross-border expansion globally. This move will grow Lamar’s portfolio in the tech ecosystem in Africa. Applauds!
Still, on raising funds, Ilara Health – Kenya-based health startup that offers affordable diagnostics services to doctors has secured $735,000 in seed funding. The company will leverage this to grow its rural medical clinic customers in Kenya, and beyond. They will also utilize the funds to build a flexible technology platform that will manage and protect the patient’s health and clinic financial data. Nice initiative!
Finally, Solarise, a clean energy and energy efficiency leasing company based in Kenya has secured an undisclosed Series A funding to scale expand across Africa. The funding round was led by smart infrastructure investor EAV alongside the European Union-funded ElectriFI.
…and there you have it for today’s edition of the Big 5 Daily!
Thanks for joining!