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at Stanford and spending most of his professional life in Silicon Valley working at various companies, CEO Noureddine Tayebi returned to Algeria to get involved in the country’s nascent tech scene to start a company and build technical talent in the Maghreb region (Algeria, Morocco and Tunisia). After earning a Ph.D.
Emmanuel says the company has its sights on North Africa with a physical presence in Algeria for the expansion. The reason lies behind the fact that in this quarter, Nigeria has accounted for 76% of the company’s messaging transactions, while Algeria currently accounts for 15%. A notable example is Kenya’s Africa Talking.
million funding it has just secured. Mylerz growth funding round was led by Lorax Capital Partners, an Egypt-based private equity firm with participation from Fawry, one of the biggest e-payment companies in Egypt. Manara gets $3M to grow tech talent pool in the Middle East and North Africa.
His new job was to open a subsidiary for a French open source tech startup and that required hiring developers on the ground. AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and French-based development finance institution Proparco, co-led the early-growth round. This brings GOMYCODE’s total financing to $8.85
But before that, there was shared optimism that African startups would raise more VC funding last year than in 2021 when the continent, for the first time, passed the $4-5 billion threshold. Africa predicted to experience sustained funding slowdown in 2023 Most tech observers share Cuvelier’s thoughts on VC activity in Africa.
Bolt , the Estonian mobility tech company that recently closed a huge round , is planning to onboard an additional 200,000 drivers in Africa this year, as it kicks-off expansion to more cities within its existing markets while keeping up with the growing demand for e-hailing services across the continent.
Yassir , an African super app platform that offers on-demand services such as ride-hailing, food and grocery delivery, and payments, has raised $150 million in Series B funding, five times what it raised in its previous priced round last November. . The African startup, first launched in Algeria, has now raised $193.25
El-Megharbel mentioned to TechCrunch that MaxAB’s plan to move into Morocco coincided with WaystoCap’s bid to raise new funding (the last time the company took venture capital was in 2017) and push further into the Moroccan market. But both companies agreed to work together rather than compete with each other.
Women Who Tech Around the World. Yesterday, I had the honor of participating in the 4th annual Women Who Tech TeleSummit that brings together women breaking new ground in technology who use their tech savvy skills to transform the world and inspire change. What challenges do women who tech in Africa and Middle East face?
Costamagna, in a statement, said the funding will help Gozem increase the figure to over 200,000 before 2025. Algeria’s Yassir picks up $30M to build a super app in North Africa. We also reduce their cost of operation through asset financing because they have no formal alternative and it’s generally informal and expensive.”.
A source tells us Founders Fund is also investing. Such decisions must not be delegated to unelected tech leaders. ChatGPT is a general-purpose chatbot that uses artificial intelligence to generate text after a user enters a prompt, developed by tech startup OpenAI. Should we risk loss of control of our civilization?
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