Day: May 18, 2023

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Nigerian cold-chain startup Figorr (Formerly Gricd) raises $1.5 million to revolutionize perishables insurance

New Investments

Nigerian cold-chain startup Figorr (Formerly Gricd) raises $1.5 million to revolutionize perishables insurance

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Nigerian cold-chain startup Figorr (Formerly Gricd) has raised $1.5 million in seed funding to revolutionize perishables insurance with a data-driven approach.

The funding round was led by Atlantica Ventures VC Fund, with participation from VestedWorld, Jaza Rift Ventures and Katapult VC. Founded in 2019, Figorr leverages advanced analytics, machine learning algorithms, and real-time monitoring to provide unparalleled insights into temperature-sensitive cargo. This enables businesses in the agriculture and health sectors to proactively manage risks, prevent losses, and optimize their supply chain operations.

 

By harnessing the power of data and technology, Figorr is revolutionizing the perishables insurance sector and safeguarding the integrity and quality of perishable goods throughout the supply chain. The startup will invest the latest round of funding in accelerating its expansion plans, enabling them to scale its operations and establish strategic partnerships with key players in the cold-chain industry.

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Madagascar gets $227 million from World Bank and the French Development Agency to boost climate-smart agriculture

Key Developments

Madagascar gets $227 million from World Bank and the French Development Agency to boost climate-smart agriculture

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The World Bank and the French Development Agency (Agence Francaise de Development) are providing $227 million in financing to Madagascar to help the country boost its climate-smart agriculture sector.
 

The financing will improve agricultural productivity and resilience to climate change, strengthen agricultural value chains, and enhance access to markets and financial services for farmers, among others. Madagascar’s agricultural sector is particularly vulnerable, as it relies heavily on rain-fed crops.

 

The financing from the World Bank and the AFD will help the country to implement climate-smart agriculture practices, such as using drought-resistant crops and planting trees to protect soil and water resources. This will help to boost agricultural productivity and resilience to climate change, and it will also help to improve food security and livelihoods in Madagascar.

 

The financing is part of the World Bank’s $1.2 billion Country Partnership Strategy for Madagascar, which aims to support the country’s development goals in agriculture, energy, health, education, and governance.

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Khazna Data Centers and Benya Group team up to build a $250 million state-of-the-art data centre in Egypt

Key Developments

Khazna Data Centers and Benya Group team up to build a $250 million state-of-the-art data centre in Egypt

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Khazna Data Centers and Benya Group have teamed up to build a $250 million large-scale data center in Egypt
 

The project aims to establish one of the largest data centres in the region, equipped with state-of-the-art facilities and cutting-edge technology.

 

The collaboration promises to unlock vast possibilities for Egypt’s booming digital economy and strengthen the nation’s position as a regional technology hub. With data consumption skyrocketing, this expansive data centre will cater to the escalating needs of businesses, organizations, and individuals, offering secure and reliable data storage and processing capabilities.

 

The centre will have a capacity of 25 megawatts (MW) that is expected to double to 50 MW as expansion plans are implemented. The project aims to meet the region’s underserved data markets.

 

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Global tech firm TELUS International expands operations to Africa

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Global tech firm TELUS International expands operations to Africa

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TELUS International, a leading digital customer experience innovator, has announced the expansion of its global operations to Africa.

The company has established operations in South Africa and Morocco and plans to add additional regional locations over the next several years. The expansion into Africa is part of TELUS International’s growth strategy, which is focused on providing high-quality customer experience solutions to global brands.

 

The company’s new locations in Africa will provide it with access to a large pool of talented and multilingual workers and a strategic location for serving customers in Europe, the Middle East, and Africa. The expansion of TELUS International to Africa is expected to bring several benefits to the region, including the transfer of technology and skills. The expansion is also expected to positively impact the African digital economy’s development.

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M-Kopa secures $250 million in one of Africa’s biggest tech fundraisings

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M-Kopa secures $250 million in one of Africa’s biggest tech fundraisings

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M-KOPA, a pioneering company in the field of asset financing and renewable energy solutions in Africa, has secured over $250 million in a combination of debt and equity funding

M-KOPA’s asset financing platform has revolutionized access to essential goods and services in underserved African communities by leveraging mobile technology and innovative financing solutions. The firm enables its customers to acquire solar energy systems, smartphones, and other life-changing products through flexible payment plans.

 

The debt and equity funding will fuel M-KOPA’s ambitious growth plans, enabling the company to scale its operations, strengthen its technology infrastructure, and enhance customer experiences. By expanding its asset financing platform, M-KOPA aims to empower more individuals and small businesses with the necessary tools and resources to thrive. This investment comes at a critical time when access to affordable financing remains a challenge for many people in Africa.

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