Editor’s Be aware
- Week 47, 2022
- Learn time: 5 minutes
The tech trade is headed for a protracted winter, it might appear. This week brings information of extra layoffs, closures, and even theft as corporations within the ecosystem really feel the frigid gusts of the worldwide financial winter. SWVL and Quidax lay off a few of their workers, whereas SweepSouth clears out of Nigeria. On a lighter word, Kandon Applied sciences and Korapay had been cleared of all expenses in Kenya.
Extra tales of happenings within the tech ecosystem await you on this version of TC Weekender. Comfortable studying!
Pamela Tetteh Editor, TechCabal.
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Who introduced the cash this week?
- Tanzanian retail-tech firm Ramani raised $32 million in sequence A funding. The spherical was led by Flexcap Ventures and Jared Schreiber, the founder and CEO of Infoscout.
- Djamo, a client finance startup primarily based in Tanzania, raised $14 million in an undisclosed spherical led by Enza Capital, Oikocredit and Partech Africa.
- Egypt’s digital pharmacy platform, Grinta, raised $8 million in seed funding led by Raed Ventures and Nclude with participation from Silicon Valley-based Endeavor Catalyst and 500 World.
- Nigeria-based fintech, Pivo, received $2 million in seed funding from Precursor Ventures, Vested World, Y Combinator, FoundersX and Mercy Corp Ventures.
- Kenyan provide chain and logistics firm, Leta raised $3 million in pre-seed funding from 4Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate, and Verdant Frontiers Fintech.