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Tag: Startup

uLesson employees accuse CEO of toxicity, verbal abuse, others
News

uLesson employees accuse CEO of toxicity, verbal abuse, others

Current and ex-employees of edtech uLesson have accused the founder of the company, Sim Shagaya of fostering a toxic work environment marked by bullying, verbal abuse, micromanaging, discrimination, subjugation, and blindsiding. In a investigation released by Techpoint Africa examined the affected by the layoffs, who did not directly interact with the CEO or management. It […]

Tizeti CEO urges African startups to launch in multiple countries
News

Tizeti CEO urges African startups to launch in multiple countries

Chief Executive Officer of Tizeti, Kendall Ananyi, has emphasized the importance of African startups expanding into multiple countries to mitigate currency risks. Ananyi shared his insights through a blog post, drawing from his experience of investing in over 40 startups over the past eight years. Ananyi highlighted the challenge of skyrocketing exchange rates for African […]

Women-only ride-hailing platform HerRyde 'hibernates' after one year
News

Women-only ride-hailing platform HerRyde ‘hibernates’ after one year

After a year of operating in Nigeria’s capital city, Abuja, HerRyde, a ride-hailing platform exclusively for women, has decided to temporarily pause its services, known as “hibernation,” to refine its strategies and secure funding in preparation for an upcoming relaunch, Benjamindada reported. Motivated by a shared desire to create safer transportation options, Oluwafuyi, along with […]

API startup Thepeer shuts down, returns capital to investors
Startups

API startup Thepeer shuts down, returns capital to investors

The Nigeria-based API startup, Thepeer, which raised a $2.1 million seed round in June 2022, has announced the closure of its business and the return of its remaining capital to investors after struggling to achieve scalability, according to a statement released on Monday. The three-year-old startup acknowledged that despite its innovative technology, it faced challenges […]

Car financing start-up Moove raises $100m in Series B funding
Tech

Car financing start-up Moove raises $100m in Series B funding

A startup revolutionizing car financing for ride-hailing, Moove, has secured $100 million in its Series B funding round, reportedly spearheaded by Uber, TechCrunch reported. This investment comes on the heels of reports in February suggesting Uber’s interest in an equity stake in Moove. With this latest round, Moove’s total funding climbs to approximately $460 million, […]

Nigerian startups receive $220k grant from NSIA
News

Nigeria leads as African startups raise $217m Feb – Report

In February 2024, startups across Africa achieved a significant milestone by raising a total of $217 million, marking a remarkable 182% increase compared to the previous month, as reported by ‘Africa: The Big Deal,’ a platform monitoring startup deals on the continent. The firm had reported that African startups secured $77 million in January. The […]

Nigerian edtech startup AltSchool expands into Europe
Tech

Nigerian edtech startup AltSchool launches in Kenya

Nigerian edtech startup, AltSchool Africa has opened up in Kenya, its second biggest market by revenue, the company’s co-founder, Adewale Yusuf disclosed. East African nation, Kenya generates the second-highest income for the startup. As a result, AltSchool will now concentrate on offering its Kenyan clients direct assistance in addition to working to expedite local payment […]

Nigerian startup 60Seconds launches nightlife experience app
Business

Nigerian startup 60Seconds launches nightlife experience app

A Nigerian startup, 60Seconds, has built a platform that will revolutionize how revellers interact, engage, and transact in their favourite night spots. The PUNCH reported that according to a statement signed by the CEO of 60Seconds, Coolman Chidiagba, the app was created not only to foster a sense of community among partygoers, but also to streamline the overall nightlife […]

Health startup mPharma lays off 150 workers
News Tech

Health startup mPharma lays off 150 workers

A Ghanaian health startup, mPharma, which supply of prescription drugs for pharmacies and their suppliers, has let go some of its employees. “We took the difficult decision to right-size the team,” Gregory Rockson, the company’s CEO, told TechCabal. The layoffs are in light of the current macroeconomic conditions driven by the devaluation of the naira.” […]

Israeli startup Vesttoo names Ami Barlev as interim CEO
Startups

Israeli startup Vesttoo names Ami Barlev as interim CEO

Israeli fintech company, Vesttoo, has announced the appointment of Ami Barlev as interim CEO, stepping in for Yaniv Bertele, who led the firm during a false collateral scandal. Barlev brings a wealth of experience from senior roles in various Israeli and Nasdaq-listed companies, startups, and tech-focused fields such as AI, communications, aviation, and real estate. […]

Kenya logistics startup Sendy shuts down, sells assets
featured News Tech

Kenya logistics startup Sendy shuts down, sells assets

Sendy, a Kenyan logistics start-up that, among other things, allowed merchants to buy FMCGs directly from producers, is closing down operations and considering selling its assets. Sendy co-founder Meshack Alloys acknowledged the sale to TechCrunch without providing any other information, stating: “We are in the middle of an acquisition process. So yes, Sendy is being […]

Kenyan startup FarmWorks secures $4m pre-series A funding
Startups

Kenyan startup FarmWorks secures $4m pre-series A funding

Fast-rising agritech startup in Kenya, FarmWorks, has successfully closed a remarkable $4 million Pre-Series A funding round to bolster its operations and make a significant impact in the agricultural sector. The startup takes a unique approach by connecting farmers with essential farm inputs, including pesticides, and also purchasing their crops, following the out-grower model widely […]

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