Wednesday, May 22, 2024

Nigeria’s Bumpa secures $4M led by Base10 Partners. 1 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. Nigeria’s Bumpa secures $4m led by Base10 Partners

A Nigerian social commerce startup, Bumpa, has announced securing a $4M seed round led by Base10 Partners.

Luci Fonesca, Principal at Base 10 Partners, confirmed the development in a statement on Thursday.

The seed funding also saw participation from Plug & Play Ventures commerce fund, SHL Capital, Jedar Capital, Magic Fund, DFS Labs, FirstCheck Africa Angel Program, E62 Ventures, Club14, and Fast Forward Ventures.

The startup was founded by Kelvin Umechukwu (CEO) and Adetunji Opayele (CTO), with a vision to help retailers manage and grow their businesses using their smartphones.

“Bumpa is building a mission that we love and were excited to get behind, enabling e-commerce and reducing friction for millions of SMBs,” said Luci Fonseca.

Bumpa was formerly known as SalesCabal before relaunching in February last year.

Tech Trivia: Memory modules and processors are both types of what?
A. Storage devices
B. Motherboards
C. Chips
D. Jumpers
Answer: see end of post

Read also:Buhari signs Nigeria Startup Bill into law

2. GlobalFair grabs $20 million Series A debt and equity funding

Beryl TV images-2-7 Nigeria’s Bumpa secures $4M led by Base10 Partners. 1 other stories and a trivia Technology

A business-to-business startup, GlobalFair, has on Thursday announced securing $20 million Series A debt and equity funding led by Lightspeed

GlobalFair’s CEO Shaily Garg confirmed the raiser in a media release.

Ripples Nigeria gathered that the Series A funding round was a mix of equity ($12 million) and debt ($8 million).

The funding saw participation from Saama Capital, India Quotient, AUM Ventures, and Stride Ventures.

Playing in the B2B trading platform, the tech-based platform simplifies the procurement of Building Materials.

Founded by Ashish Chandra, and Shaily Garg, the tech company is headquartered in the regions of San Francisco Bay Area, Silicon Valley.

“The idea of GlobalFair was something Chandra and I felt strongly about, given the fragmented nature of construction businesses,” Garg explained.

Ripples Nigeria understands that the fresh funding brings the company’s total raised to $22 million following a $2 million seed round last February.

Trivia Answer: Chip

Technically speaking, a computer chip is a piece of silicon with an electronic circuit embedded in it.

It typically describes an integrated circuit, or IC, such as a central processor or a graphics chip, but may also refer to other components such as a memory module.

By Kayode Hamsat

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