Swedish tech company Roam is teaming up with Kenyan M-KOPA. 2 other stories and a quiz

This list of stories will help you find out about the latest happenings in the tech world today

1. Swedish tech firm Roam teams up with Kenyan M-KOPA on electric motorcycles

A Swedish technology company, Roam has announced a partnership agreement with the Kenya-based fintech platform, M-KOPA, for the sale of electric motorcycles on credit.

Mikael Gånge, co-founder and chief commercial officer of Roam, confirmed the partnership agreement in a press release seen by Ripples Nigeria on Wednesday.

Mikael noted that the deal was the first-ever large-scale supply deal for electric motorcycles in Africa.

Playing in the fintech space, M-KOPA provides digital credit and financial services to underbanked consumers in Africa.

Roam (formerly known as Opibus) is a Swedish technology company with operations in Kenya that develops, designs and deploys electric vehicles,

“This agreement is an incredible trigger for electric motorcycle adoption in emerging markets and validates our vision to launch a locally designed product that exceeds the experience of traditional fossil fuel motorcycles for a similar price,” said Mikael while explaining the partnership agreement.

He also noted that the partnership with M-KOPA would reinforce the common vision of cleaner mobility.

Tech Trivia: What term describes the development of entirely new software?
A greenhouse
C. Greenland
Answer: see end of post

2. Eat Just, a San Francisco-based food tech company, gets $25 million

A San Francisco-based company, Eat Just, has secured $25 million in funding from C2 Capital Partners, a private equity firm with Alibaba as lead investor.

Also read: Egyptian marketing startup, Convertedin, secures $3 million seed round. 2 other stories and a quiz

CEO Josh Tetrick confirmed the new funding and partnership in a press release on Wednesday.

Eat Just (formerly Hampton Creek) was founded in 2011 by Josh Balk and Josh Tetrick.

The company offers plant-based egg substitutes intended to provide healthy and nutritious food alternatives.

Ripples Nigeria realized that Eat Just ventured into the Chinese market after establishing a strong footing for its plant-based eggs in the US market.

“We can never achieve the goal of changing the world without China,” Tetrick said.

Tetrick said the new fund would help the company expand its footprint in the Chinese market.

3. Seoul-based equity management platform QuotaBook secures $11m funding

A Seoul-based equity management platform, QuotaBook, announced that it had secured $11 million in funding from Elefund.

Co-founder Andy Choi confirmed in a press release Wednesday that the funding saw participation from Access Ventures, Hana Securities and Viva Republica.

Choi co-founded the South Korean company with Dan Hong and Pilseon Jun in 2019.

The Korean startup, a graduate of the Winter 21 class of Y Combinator (YC), said it specialized in equity management.

On the reason for launching the startup, Choi said:

“I had a case where the startup failed to provide its most up-to-date capitalization table excel sheet for over two months, which made it difficult for us to update our investment valuations and returns that needed to be reported to our LP.

He noted that the funding would help spur technology infrastructure and expansion into Asian markets.

Quiz Answer: Greenfield

Greenfield is a construction industry term that refers to undeveloped land.

In the computing world, greenfield describes a software project developed from scratch rather than built from an existing program. It is often contrasted with “brownfield”, which describes software built from an existing program.

By Kayode Hamsat

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