This line-up of stories will help you discover the latest happenings around the tech world, today
1. Digital infrastructure, Vertiv, launches customer experience center in Kenya
A global provider of critical digital infrastructure and business continuity solutions, Vertiv, has opened a new office and customer experience center in Kenya.
Rohan Patil, Regional Manager of Vertiv for East Africa, made the disclosure in a statement on Thursday.
According to the statement, the new office was opened in a bid to augment the growing demand for high-efficiency critical infrastructure in East Africa.
“This opening marks our growing presence in Kenya and the East Africa region, and we are excited and proud to be a part of this historic digital journey,” said Patil.
Tech Trivia: Which adjective describes settings that have not been customized?
Answer: see end of post
2. Satgana closes 29M fund to invest in Africa and Europe
A Luxembourg-based VC firm, Satgana, has closed its EUR30 million (US$29 million) fund to invest in climate change in Africa and Europe.
Satgana general partner, Romain Diaz, confirmed the funding in a media release seen by Ripples Nigeria on Thursday.
As per the release, high net-worth individuals and family offices, including Thibaud Hug de Larauze, Josef Bovet, Fabrice de Gaudemar, Elsa Hermal, and the Family Office Cullom Capital participated in the funding.
“The climate and ecological crisis are the defining issue of our time.
“As a gigantic challenge ahead of us, it is also a massive business opportunity as we need to reinvent all the sectors of our economies to meet the targets of the Paris Agreement,” said Diaz
Ripples Nigeria gathered that the fund had already invested in three climate-tech startups, including Kenya’s Mazi Mobility, and will invest in 40 startups addressing the climate crisis.
3. India’s Udaan secures $120M in convertible notes and debt
A Bengaluru-headquartered startup, Udaan, has announced securing $120 million in convertible notes and debt led by existing shareholders and bondholders.
Udaan’s chief financial officer, Aditya Pande, confirmed the latest funding in a statement on Thursday.
According to the statement, the company helps merchants secure inventory and working capital, and has improved its unit economics by “~1,000bps with equally strong improvements in both gross margins and operating cost.”
“Despite the funding related challenges being experienced by the larger start-up ecosystem, this fund raise reflects the confidence of investors in our business model and their endorsement of the journey to unit economics, driven by great progress in evolution of our business model and cost efficiency, that we initiated last year,” Pande wrote.
Udaan was co-founded by former Flipkart executives Sujeet Kumar, Vaibhav Gupta, and Amod Malviya.
Trivia Answer: Default
Default is an adjective that describes a standard setting or configuration. While it is not specific to computers, it is commonly used in IT terminology.
By Kayode Hamsat
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