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Early-stage African VC firm, Microtraction reports portfolio boom despite the weight of COVID-19

TechCrunch

Founded by Yele Badamosi in 2017, Microtraction arrived on the continent’s early-stage investment scene with all intent to be “the most accessible and preferred source of pre-seed funding for African tech entrepreneurs.” 2019 saw the local VC firm invest in six companies. The introductory batch was all Nigerian.

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Norebase raises $1M to allow companies start, scale, and operate in any African country

TechCrunch

“Our solution is for people in the local market moving into their first market or a company in their fourth market trying to scale their enterprise.” These countries include Nigeria, Kenya, Ghana, South Africa, Rwanda, Senegal, Togo, Tanzania, Ivory Coast, Egypt, Mauritius and Burkina Faso.

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Dispute between founders and board leaves Capiter in arrears to employees and creditors

TechCrunch

The reasons were unclear, as both parties didn’t publicly comment on the situation; however, from various local news outlets, they ranged from mismanagement of funds to failure to report to the board and work out a potential merger, as well as internal disagreements over management methods.

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EV conversion startup Opibus raises $7.5M to start bus and motorcycle mass production

TechCrunch

Countries like South Africa, Mauritius and Rwanda are already ahead of the game. Opibus also plans to forge partnerships with mini grid companies to ensure that its motorcycle customers in rural areas have access to charging points.

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ChatGPT: Everything you need to know about the AI-powered chatbot

TechCrunch

Paying ChatGPT users have access to GPT-4, which can write more naturally and fluently than the model that previously powered ChatGPT. July 6, 2023 OpenAI announced the general availability of GPT-4 Starting July 6, all existing OpenAI developers “with a history of successful payments” can access GPT-4.

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