TechNigeria: A weekly digest of what went down in Nigeria’s tech space

September 4, 2021
News
Sabis seed

On the tech scene this week, we tracked stories majorly fund raisers and product launch.

Lagos-based tech-enabled Agricorp Int’l raised $17.5m to become the largest spices export startup in Africa.

Also, Nigerian startup, eInvites, launched its product to automate invitation cards

Let’s discuss.

Agricorp’s $17.5m game-changer raiser

agricorp

Lagos-based tech-enabled spice export startup, Agricorp International, during the week announced raising a $17.5 million in Series A funding.

The raiser was the biggest amongst the raisers we tracked during the week.

Quite an instrumental raiser as it pushed the startup to become the largest spices export startup in Africa.

According to the startup, the funding is expected to increase the startup’s processing capacity up to 7000 metric tonnes.

The invitation cards startup

WhatsApp Image 2021 09 01 at 15.16.48 1

Lagos-based software as a service startup, eInvites, launched a peer-to-peer design platform as it looks to automate how people can personalise, send and receive invitation cards.

Leveraging advanced design technology, the new platform helps users design, personalise as well as share e-invitations upon deployment.

Co-founded by Tunde Moses Aguda and Tunji Badru; the platform has continued to receive acceptance from persons and organisations looking to try options beyond the conventional method.

LoftyInc Capital’s 3rd fund

LoftyInc Capital

Also during the week, leading pan-African VC firm, LoftyInc Capital, launched its third fund tagged LoftyInc Afropreneurs Fund 3.

According to the firm, the VC is set to invest $10 million each in African tech startups merits its criteria.

The new funding comes as investment from its second fund to include FBNQuest Funds, syndicates from The Green Investment Club, HNIs from multinationals like Google, Facebook, and ExxonMobil; and Andela CEO Jeremy Johnson, among others.

Sabi’s seed round 

Sabis seed

Featuring amongst startups with new funding partner is Sabi, a Nigerian B2B startup.

The development comes as Sabi crosses a milestone of over 150,000 small business users on its platform.

Since its debut in 2020, the startup has been optimising Africa’s informal trade sector by bringing merchants and resellers into its network with curated business tools and services.

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