LATEST TECHNOLOGY NEWS: 3 technology startups from Nigeria guarantee VC funding. 4 other things and curiosities you need to know today, May 15, 2020

These 5 most recent stories from the technological space will keep you updated with current trends.

1. 3 tech startups from Nigeria guarantee VC funding


3 Nigerian startups guaranteed the investment of Ventures Platform, which is in its initial stage, to help them scale their solutions. The new injection of funds will see these startups, namely: Tambua Health, Brass and FunnelJoy, to expand their respective portfolios as they enter the market.

Meanwhile, Ventures Platform, as a venture capital firm, invests in early-stage startups that are building efficient capital platforms that democratize prosperity, fill infrastructure gaps, connect underrepresented communities, create efficiencies, solve the no consumption and improve livelihoods; new portfolio companies can leverage the VC financing network.


2. Alitheia IDF closes US $ 10 million to support women technology entrepreneurs

LATEST TECHNOLOGY NEWS: 3 technology startups from Nigeria guarantee VC funding. 4 other things and curiosities you need to know today, May 15, 2020


Alitheia IDF closed $ 10 million of American billionaire George Soros' Open Society Foundations to lend to women tech entrepreneurs. According to the media, Alitheia IDF is a joint venture fund between Alitheia Capital, a private equity investment in Nigeria, and IDF Capital in South Africa. VC will invest in companies operating in South and West Africa belonging to women or who focus on supporting women.

Open Society Foundations said that Alitheia IDF will invest between $ 1 million and $ 5 million, with potential for additional funding later, on small and medium-sized businesses that present an opportunity to promote gender equality. The fund is also supported by the African Development Bank, Industry Bank of Nigeria, FinDev Canada and the Dutch Good Growth Fund.

Technology curiosities:

How many buttons did the first computer mouse have?

B. Two
C. Three
D. Four


Answer: See end of post.


3. Zimbabwe startup presents WhatsApp-based digital wallet for payments

Bitkesh, a Zimbabwean startup, reportedly introduced a WhatsApp-based digital wallet to help non-bankers in South Africa make payments. Co-founded by Reginald Tsvetu and launched in 2017, the company uses cryptocurrency to help people send money back home, eliminating the need to visit an exchange office.

Read too: LATEST TECHNOLOGY NEWS: Uber offers Grubhub $ 6 billion. 4 other things and curiosities you need to know today, May 14, 2020

In an attempt to simplify its operations, the startup launched a new product, UhuruWallet, a WhatsApp-based digital wallet developed on the Stellar blockchain aimed at non-banking markets for foreigners in South Africa. After the beta was released, Tsvetu said that UhuruWallet had received more than 750 entries and was on its way to move ZAR1 million (US $ 53,000) in its first month.

4. Somali accelerator program opens $ 30,000 applications for startups

Innovate Ventures announced its invitation to early-stage technology startups in the Somalia region to apply for its acceleration program, which offers up to $ 30,000 in equity investments. The media reported that Somalia's main startup accelerator and technology fund, Innovate Ventures, has partnered with VC4A, Telesom and Oxfam as part of Work in Progress! project to run the Innovate Accelerator.

Since its inception a few years ago, the program has formed more than 50 startups and has invested nearly $ 100,000 in graduates. This new edition will offer selected startups access to training, guidance from domain experts, access to an extensive business network, visibility and the chance to guarantee investments. According to the organizers, the 12-week program will be based in Hargeisa, the capital of Somaliland.

5. TSMC discloses plans to build a $ 12 billion plant in Arizona

The world's largest semiconductor contractor foundry, Taiwan Semiconductor Manufacturing Co., announced today, May 15, that it plans to build an advanced chip foundry in Arizona, with the support of the United States and the federal government. Previously, White House officials confirmed that they were in talks with TSMC and Intel to build foundries in the U.S., as part of their effort to reduce dependence on chip factories in Asia.

Although headquartered in Hsinchu, Taiwan, TSMC supplies chip components to many of the world's largest semiconductor companies and its US customers include Apple and Qualcomm. Media report revealed that the plant, scheduled to start chip production in 2024, will allow TSMC's American customers to manufacture their semiconductor products domestically.

Technology's trivial response: One button

The first computer mouse was invented in the early 1960s by Douglas Engelbart during his time at the Stanford Research Institute in Menlo Park, California. Engelbart was described as a visionary during the 1950s and 1960s, when a single computer involved an entire room.

The first prototypes of the mouse consisted of a rectangular wooden shell with two metal balls inside: one for the X axis and one for the Y axis. There was only one button on the corner. The device was originally designed to work with the Xerox Alto computer system and was referred to as the "X-Y position indicator for a display system". Later, Engelbart himself coined the term "mouse".

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