Wednesday, February 21, 2024

Moroccan Chari secures investment from UM6P Ventures. 2 other stories and a trivia

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This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Moroccan Chari secures investment from UM6P Ventures

Moroccan B2B e-commerce startup, Chari, has announced securing a funding from UM6P Ventures, the investment arm of Mohammed VI Polytechnic University.

Established in 2020 by husband and wife duo Ismael and Sophia Belkhayat, Chari facilitates product ordering and delivery for traditional proximity stores in Morocco.

With a presence encompassing over 20,000 food businesses in Morocco, the platform has expanded its reach into Tunisia and Ivory Coast.

Being a participant in the Y Combinator S21 batch, Chari previously raised a seed round of US$5 million in late 2021, followed by additional investments in January and February of the subsequent year.

Ripples Nigeria gathered that the contributions came from Orange Ventures, Plug and Play, and Verod-Kepple Africa Ventures (VKAV).

The latest infusion of capital comes from UM6P Ventures, aligning with the mission of Université Mohammed VI Polytechnique to foster entrepreneurship and advance scientific innovation in Morocco and Africa.

Trivia: DMA data transfers bypass which component in a computer?

A. The CPU

B. System RAM

C. The GPU

D. Storage disks

Find answer below

2. Cloud kitchen, Fork N Knife, closes $800K in Seed Funding

Fork N Knife, a tech-powered cloud kitchen has closed $800,000 seed funding to affirm its dedication to advancing the food tech sector.

A range of individual angel investors, spanning beyond the Middle East, contributed to the round, signaling trust in Fork N Knife’s inventive “Cooking As A Service” (CAAS) model.

The milestone positions the company for strategic expansion into European and African markets by year-end.

The record also capitalizes on its success in Turkey, where it presently operates in three branches.

The move, however, highlights the considerable potential within the regional food industry, marking a significant strategic advance for Fork N Knife.

Differentiating itself from conventional fixed-fee structures, Fork N Knife cultivates dynamic partnerships with food industry innovators, enabling businesses to expand without incurring fixed costs.

3. Alphabet, Google’s Parent Company, to acquire UK’s Monzo

Alphabet, the parent company of Google, is in discussions to secure a significant stake in the UK-based digital retail bank Monzo.

The tech giant plans to utilize its independent growth fund, Capital G, to invest between £300 million and £500 million in Monzo, placing the challenger’s valuation above £4 billion.

Ripples Nigeria gathered that the funding round, expected to include a mix of new and existing investors, may conclude by the year’s end.

Monzo’s potential public debut is under speculation, with Alphabet’s involvement potentially playing a pivotal role in the company’s preparations.

Trivia Answer: The CPU

DMA is a method of transferring data between a computer’s system memory and another hardware component that does not require the CPU to process the data.

It uses the CPU only to initiate a data transfer; after that, the other component can communicate with the system RAM directly without any further involvement from the CPU. DMA reduces the overhead involved in data transfers, freeing up the CPU to continue processing other operations instead.

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