Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update – gpgmail


Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks.

The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current operating markets of Nigeria, Togo, Ghana and Kenya.

Kobo360 looks to grow beyond its Nigeria roots to become a truly Pan-African company, co-founder Obi Ozor told gpgmail .  He co-founded the venture in 2017 with fellow Nigerian Ife Oyedele II.

Since its launch in Lagos, the startup has continued to grow its product offerings, VC backing and customer base. Kobo360 claims a fleet of more than 10,000 drivers and trucks operating on its app. Top clients include Honeywell, Olam, Unilever, Dangote and DHL.

Kobo360’s latest round is also notable for Goldman Sachs’ involvement. Goldman’s participation tracks a growing list of African venture investments made by the U.S. based finance firm.

Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market, Transsion confirmed to gpgmail.

The company — which has a robust Africa sales network — could raise up to 3 billion yuan (or $426 million).

Transsion’s IPO prospectus is downloadable (in Chinese) and its STAR Market listing application available on the Shanghai Stock Exchange’s website.

STAR is the Shanghai Stock Exchange’s new Nasdaq-style board for tech stocks that also went live in July with some 25 companies going public.

Headquartered in Shenzhen — where African e-commerce unicorn Jumia also has a logistics supply-chain facility — Transsion is a top-seller of smartphones in Africa under its Tecno brand.

The company has a manufacturing facility in Ethiopia and recently expanded its presence in India.

Transsion plans to spend the bulk of its STAR Market raise (1.6 billion yuan or $227 million) on building more phone assembly hubs and around 430 million yuan ($62 million) on research and development, including a mobile phone R&D center in Shanghai, a company spokesperson said.

The government of Rwanda will soon issue national policy guidelines to eliminate gas motorcycles in its taxi sector in favor of e-motos, according to a preview of the plan by President Paul Kagame at a public-rally

The director general for the Rwanda Utilities Regulatory Authority, Patrick Nyirishema, confirmed Kagame’s comments were ahead of a national e-mobility plan in the works for the East African nation.

“The president’s announcement is exactly the policy direction we’re in…it’s about converting to electric motos…The policy is prepared, it’s yet to be passed…and is going through the approval process,” Nyirishema told gpgmail on a call from Kigali.

Motorcycle taxis in Rwanda are a common mode of transit, with estimates of 20 to 30 thousand operating in the capital of Kigali.

Nyirishema explained that converting to e-motorcycles is part of a national strategy to move Rwanda’s entire mobility space to electric. The country will start with public transit operators, such as moto-taxis, and move to buses and automobiles.

Ampersand, a Kigali-based e-moto startup, has already begun to pilot EVs and charging systems in Rwanda and will work with the country’s government on the moto-taxi conversion.

In an ExtraCrunch feature, gpgmail delved into tech talent accelerator Andela — one of the most recognized and well funded startups operating in Africa.

In a byte, Andela is Series D stage startup ― backed by $180 million in VC ― that trains and connects African software developers to global companies for a fee.

CEO Jeremy Johnson dished on the company’s strategy toward profitability and responded to some of the criticism it receives ― namely a claim the startup is creating a second brain-drain when software developers leave Andela and Africa, to take positions with global companies.

Today Andela has offices in New York and five African countries: Nigeria, Kenya,  Rwanda, Uganda, and Egypt ― which largely align with the continent’s top tech VC markets.

Across this network the company recruits software developers, builds software engineers, and deploys teams of software engineers.

Johnson disclosed numbers on Andela’s expected new hires for the year, current developer staff, how many departures the company expects, and how many of those will likely leave their home countries―which actually amounts to a fairly small percentage.

gpgmail checked in with Nigerian fintech company Interswitch for the latest on its anticipated dual-listing London and Lagos stock exchanges.

A Bloomberg News story (based on background sourcing) revived speculation the IPO could happen this year for the company — which provides much of Nigeria’s digital banking infrastructure and has expanded its operations presence and payments products across Africa and globally.

Reports that Interswitch could be one of the earliest big tech companies out of Africa to go public trace back to 2016, when CEO and founder Mitchell Elegbe told gpgmail the company was considering a listing before the end of that year.

Last month, an Interswitch spokesperson would neither confirm or deny a pending IPO, per a gpgmail inquiry. So, it’s still tough to say if or when the company could list. But there are still several reasons why the business (and its possible IPO) are worth keeping an eye on, which we detailed in the update story.

 

One could be an eventual increase in venture funding to African startups, that could come from Interswitch. Another could be an Interswitch IPO adding another benchmark for global investors to gauge Africa’s tech sector beyond Jumia — the e-commerce company that became the first big tech firm operating in Africa to launch on a major exchange, the NYSE in April.

More Africa-related stories @gpgmail

African tech around the ‘net

 


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

What is Andela, the Africa tech talent accelerator? – gpgmail


As someone who covers Africa’s tech scene, I’m frequently asked about Andela. That’s not surprising, given the venture gets more global press (arguably) than any startup in Africa.

I’ve found many Silicon Valley investors have heard of Andela but aren’t exactly sure what it does.

In a bite, Andela is Series D stage startup―backed by $180 million in VC―that trains and connects African software developers to global companies for a fee.

The revenue-focused venture is often misread as a charity. In 2017, Andela CEO Jeremy Johnson described the organization as “a mission-driven for-profit company” ― a model for the concept “that you can actually build businesses that create real impact.”

I asked Johnson recently to clarify the objective behind Andela’s drive. “It’s the exact same mission as when we started, based around our founding principle… that brilliance and talent are distributed equally around the world, but opportunity is not,” he said.

“We’re about breaking down the walls that prevent brilliance and opportunity from connecting to each other.”

A major barrier for Africa’s software engineers, according to Johnson, is simply the fact that the continent has been totally off the network that companies look to for developer talent.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Microsoft’s new Chromium-based Edge browser is now in beta – gpgmail


Microsoft today launched the first beta builds of its new Chromium-based Edge browser for Windows and Mac. The new beta channel, which will see a new update roughly every six weeks, will join the existing dev and canary channels, which will continue to see daily and weekly updates, respectively.

Over the course of the last few months of preview releases in the existing channels, Microsoft gathered about 140,000 pieces of feedback. With this — and a sufficient amount of telemetry it also received from early adopters — the company now feels that it knows enough about how well Edge works on a wide range of machines and that it is stable enough for enthusiasts, web developers and business users to give it a try before its wider release.

“Beta represents the most stable preview channel, as features are added to Beta only after they have cleared quality testing in first the Canary channel and then the Dev channel,” Microsoft explains in today’s announcement. “Major version updates can be expected roughly every six weeks, alongside periodic minor updates for bug fixes and security.”

At this point, Microsoft has also put all of the infrastructure in place to update the browser and tested it thoroughly through the early preview phase. If need be, that means the team can release an unscheduled beta when it discovers a bug and know that its update systems will work just fine.

Just like Chrome, Firefox and most other browsers, Microsoft will continue to test new features in the canary and developer builds before enabling them in the beta builds. The current canary build, for example, features a very useful global media control button that lets you control YouTube, Spotify and other video and music services without having to switch tabs. Features like this will come to the beta channel in the coming months.

Also available in the beta, but currently behind a flag, are Microsoft’s tracking-prevention features. Soon, the beta build will also get support for collections, Microsoft’s modern take on bookmarks, though as far as I can tell, that feature isn’t currently enabled in the canary and developer releases yet either (Correction: it went live in the canary release with this update). Other new features that’ll soon make their way to the beta are Internet Explorer mode for those companies that still use legacy applications that rely on Microsoft’s old, pre-Edge browser.

With this release, Microsoft is also launching a security bounty program for Edge. Security researchers who find and disclose any high-impact vulnerabilities in the beta and dev channel releases are eligible for rewards of up to $15,000.

As a Microsoft spokesperson stressed in an interview ahead of today’s release, the team is also quite happy about the fact that it has now contributed more than 1,000 commits to the Chromium project. That project is mostly led by Google engineers, but it’s good to see that Microsoft’s plans for ramping up its contributions are paying off. By moving to Chromium, Microsoft gave up developing its own engine. At the time, the company argued that continuing to invest in an engine that only had a few users wasn’t exactly useful in keeping the overall web ecosystem healthy, and that it could have more impact by working on Chromium instead. That work, it seems, is starting to pay off now.

As the team told me, a lot of the work so far has gone into bringing Edge to beta status and making sure that all of the core features are working. That means you won’t see a lot of features in the browser that really set Edge apart from the competition (Collections are a good example here). As those core features become ever more stable, though, we’ll see the team focus more on tools and features that will differentiate Edge from the likes of Chrome.

Personally, I switched to the new Edge shortly after the first developer and canary releases and have been on the daily update channel ever since. Despite its preview status, the browser has been very stable on both Windows 10 and the Mac. Some versions were better than others, but I didn’t experience and major blocking bugs in the process, and Edge has proven to be a fast and stable browser. That bodes well for the beta program.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something