LATEST TECH NEWS: AlphaCode Incubate programme selects 10 SA fintech startups. 2 other things and a trivia you need to know today, February 2, 2021
These latest stories from the tech space will keep you updated with trends today.
1. AlphaCode Incubate programme selects 10 SA fintech startups
AlphaCode Incubate programme has selected 10 South African fintech startups for its ZAR10 million (US$665,000) funding scheme.
The programme is a 12-week intensive pre-incubation programme, valued at ZAR500,000 (US$33,000), including ZAR150,000 (US$10,000) in grant funding.
According to press, the initiative provides funding, guidance, co-working space and opportunities to apply for further early-stage investment.
Three out of the10 selected startups include Bento, an out-of-the-box employee perks and benefits platform; Mapha, which buys and delivers goods from any local store in your area within two hours; and OysterPay, a digital banking platform for gig workers.
Others include Melon, AgriCool, Imfuyo Technologies, MatchKit, Varibill, Chama Money, and DentX, a machine learning platform for vehicle damage repair pricing.
Pick the odd tech leader in the pack
A. Mark Zuckerberg
B. Jack Dorsey
C. Jack Ma
D. Allen Zhang
Answer: See end of post.
2. Egyptian Elmenus secures funding from David Buttress
The development, according to press, added Buttress to the startup’s board as the food startup plots aggressive expansion.
Elmenus, which was founded in 2011 by CEO Amir Allam, is a food discovery and online food delivery platform with personalised recommendations to users at the dish-level through its AI-powered food recommendation engine.
Last year, the startup raised a US$8 million Series B funding round, and today has grown quickly, launching online ordering operations and recently its own fleet service.
Buttress will bring to the board his extensive entrepreneurial and investment background, having joined Just Eat in 2006 to launch its UK business.
3. Crypto platform Luno adds US dollar stablecoin
South Africa’s leading cryptocurrency exchange platforms, Luno, has added USDC, a secure stablecoin, to its current offering for users.
Described as one of the most secure stablecoin in the market, the USDC is expected to drive more investors into the crypto venture.
Marcus Swanepoel, CEO and founder of Luno, while expressing excitement over the new add, said that cryptocurrencies were in the limelight, charging investors and traders to maximise the opportunity.
He said: “Broadening our platform with the addition of USDC is an exciting move for us and our users. With Bitcoin and others, including Ethereum, reaching all-time highs, cryptocurrencies are in the limelight and the opportunity is certainly ripe for investors and traders to take advantage.”
The new development will serve Luno customers the opportunity to store their wealth in the world’s reserve currency.
Tech Trivia Answer: Jack Ma
Jack Ma built an ecommerce product, Alibaba while other techpreneurs on the list built a social media platform. Mark Zuckerberg built Facebook, Jack Dorsey built Twitter while Allen Zhang built WeChat.
Jack Ma is a Chinese business magnate, investor and philanthropist. According to his portfolio statement, he is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. Ma is a strong proponent of an open and market-driven economy.