Multinational ride-hailing company, Bolt, has raised €500 million ($530 million) to invest in Africa over the next two years.
The development was confirmed by the founder and CEO, Markus Villig, on Tuesday.
Bolt began operations in South Africa in 2016 and has since expanded to include ride-hailing and delivery services in six additional African nations, including Kenya, Ghana, Nigeria, Uganda, Tanzania, and Tunisia. The platform currently has over 47 million users and 900,000 drivers.
“At a time when many countries are facing economic challenges, we will continue to grow our presence in Africa through this new investment which offers massive potential to create new jobs and income opportunities for drivers and couriers,” said Villig
According to Bolt, this investment will open up 300,000 driving jobs across the continent.t
1. Cloud-based restaurant technology, Foodics, partners SEA Ventures
A cloud-based restaurant technology, FOODICS, has partnered with SEA Ventures to digitally empower entrepreneurs in the F&B sector.
Suhail Jaber, General Manager of Foodics, confirmed the partnership in a statement on Tuesday.
According to the statement, the agreement intends to improve the quality of new projects, automate operations management, and provide a wide range of support services to improve the environment for entrepreneurship in and around Saudi Arabia.
FOODICS, launched in 2014, bills itself as a cloud-based restaurant technology and payments platform in the MENA region.
SEA Ventures, which is a company accelerator with a base in Saudi Arabia, provides incubation, advice, speeding up, and educational programs and services.
“This strategic alliance will contribute to strengthening the Kingdom’s ambition of being the first destination for unique and rich tastes in the Middle East and the Arab world,” said Jaber.
2. AeroCloud secures $12.6 million Series A round
Cloud-native airport management software startup, AeroCloud, has secured $12.6 million in a Series A round of funding.
AeroCloud co-founder and CEO George Richardson confirmed the funding in a media release on Tuesday.
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AeroCloud’s Series A round was led by U.S. VC firm Stage 2 Capital, with participation from Triple Point Ventures, I2BF Global Ventures, Praetura Ventures, Playfair Capital, and Haatch.
The business claims that it uses machine learning expertise to provide its customers with estimates based on past data, such as projecting the number of passengers during a particular season of the year.
“With AI, we can reduce that cognitive load on individuals and teams, and assist with freeing up an airport’s time to focus on other priority challenges,” Richardson noted.
According to Richardson, AeroCloud’s central promise is that all stakeholders would have cloud-based access to data, with capabilities that enable typical airport use cases including automating gate assignment for planes and maximizing unused gate capacity to boost income.
Stands for “Content Management System.” A CMS is a software tool that allows you to create, edit, and publish content.