This line-up of stories will help you discover the latest happenings around the tech world, today
1. Renewable energy developer, Yellow Door Energy, secures $400 million
A renewable energy developer, Yellow Door Energy, focused on the Middle East and Africa has secured a $400 million funding round.
Jeremy Crane, founder, and chief executive of Yellow Door Energy confirmed the new funding in a press release on Friday.
Ripples Nigeria gathered that the new funding round was led by British private equity company, Actis, with participation from World Bank’s International Finance Corporation (IFC), Japan’s Mitsui, and Saudi Arabia’s Arab Petroleum Investments Corporation (Apicorp).
Yellow Door Energy claims it manages all stages of the solar plant and you pay a monthly solar bill once the solar plant starts producing electricity.
Commenting on the raiser and intent, Crane said:
“This substantial investment will enable Yellow Door Energy to rapidly expand into new countries.”
The company is headquartered in the regions of the Gulf Cooperation Council (GCC).
Tech Trivia: The space between CSS “block” elements is defined by padding and what?
Answer: see end of post
2. Kenyan furniture startup, Moko Home + Living, secures $6.5m equity funding round
A Kenyan furniture startup, Moko Home + Living, has announced securing a $6.5m in Series B debt-equity funding round.
Eric Kouskalis, MoKo’s managing director, and Fiorenzo Conte, confirmed the funding in a media release on Friday.
Ripples Nigeria gathered that the Series B debt-equity funding round was co-led by the U.S.-based investment fund Talanton and Swiss investor AlphaMundi Group.
Other participants include Novastar ventures, Blink CV, and Kenya’s Victoria Commercial Bank which offered US$2 million in debt financing.
MoKo, which is a one-stop furniture company, said it has served over 10000 smiley homes to date.
“We plan to have an offering for each major piece of furniture in a typical home — bed frame, TV stand, coffee table, carpet.
“We are also developing even more affordable products in existing product categories — sofas and mattresses,” said Kouskalis.
“We were impressed by MoKo’s climate-friendly local production capabilities,” Miriam Atuya of the AlphaMundi Group added.
3. US-based fintech, NorthOne, secures $67 million in Series B funding
A US-based fintech startup, NorthOne, has announced securing $67 million in Series B funding to expand technological infrastructure.
Co-founder and COO, Justin Adler, confirmed the funding in a press release seen by Ripples Nigeria on Friday.
Ripples Nigeria gathered that Battery Ventures, Don Griffith, Drew Brees, Ferst Capital Partners, FinTLV, Next Play Capital, Operator Stack, Redpoint Ventures, Tencent, and Tom Williams, all invested in the fund round.
NorthOne, founded in 2016 bills itself as a banking app focused on delivering powerfully simple financial tools to small businesses across America.
Eytan Bensoussan, and Justin Adler founded the company.
“We founded NorthOne to solve big problems for small businesses. 50% of small businesses in America fail over a 5-year time horizon, and the majority of those failures are due to financial mismanagement and a lack of financial systems and controls.
“Our team is proud to be able to de-risk entrepreneurship and make starting and running a successful small business accessible to anyone,” said Adler.
Ripples Nigeria gathered that the new funding brings NorthOne’s fundraising total to $90.3 million raised since launch.
Trivia Answer: Margin
Margin is a page layout term used in both print and Web publishing.
In print, “margin” typically refers to page borders, while on the Web it describes the spacing between elements on a webpage.
By Kayode Hamsat
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