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Foundry, Naspers $100 million fund for South African startups, is no more.

The R1.4 billion $100 million South Africafocused venture capital firm Naspers Foundry has ceased operations. Naspers is the most valuable IT business

The R1.4 billion $100 million South Africafocused venture capital firm Naspers Foundry has ceased operations. Naspers is the most valuable IT business in Africa by market value. Naspers will no longer have a specific staff devoted to working with South African companies as it is aligning its efforts with the strategy it uses worldwide through Prosus Ventures. Naspers has reassessed its earlystage investment strategy in South Africa to bring it in line with its international approach because the global investment landscape has changed. In line with its other global markets, Naspers will continue to assist the growth of South Africas earlystage tech industry by evaluating the market and potential new prospects. Read More..

B2B Tech News | 7 months ago          

CGTN Increased independence and technological prowess are essential for highquality development.

During Chinas Two Sessions, which outlined the growth priorities for the secondlargest economy in the world for 2023, one of the keywords was highqual

During Chinas Two Sessions, which outlined the growth priorities for the secondlargest economy in the world for 2023, one of the keywords was highquality development, which includes innovative, coordinated, green, open, and development for everyone. President Xi Jinping emphasised the significance of fostering green and lowcarbon economic and social development, promoting industrial transformation and upgrading, advancing coordinated urbanrural and regional development, and achieving greater selfreliance and strength in science and technology. Li Qiang, the premier of China, vowed to concentrate his efforts on fostering highquality development. Along with progress in other areas, China has made strides in recent years in improving research and development spending, increasing the production of clean energy, and fostering growth poles with regional development programmes. Xi stressed the significance of innovation in economic development in 2014. Read More..

B2B Tech News | 7 months ago          

Orca Tech asks IT channel to sponsor its car at the 2023 Variety Car Bash to help regional Australia.

By sponsoring their automobile in the Variety Car Bash 2023, Orca Tech is asking the IT channel to help it earn $50,000 for indigenous and underprivil

By sponsoring their automobile in the Variety Car Bash 2023, Orca Tech is asking the IT channel to help it earn $50,000 for indigenous and underprivileged children in isolated places. The The Irwins team car, which participates in the renowned charity drive through rural NSW and the ACT from May 21 to May 27, 2023, is owned by the distributor with an emphasis on cyber security. This years event will be led by Orca Tech General Manager Craig Ashwood and his lifelong friend Tim Hutchinson. All donations are tax deductible and will all go directly to helping kids through Variety activities. Orca Tech and related sponsors and supporters raised $12,000 the previous year. Read More..

B2B Tech News | 7 months ago          

New fund from MENA VC Flat6Labs to support East and West African startups

The $95 million Africa Seed Fund is the first initiative beyond the MENA region for Egyptbased Flat6Labs, a seedstage accelerator. With twothirds of i

The $95 million Africa Seed Fund is the first initiative beyond the MENA region for Egyptbased Flat6Labs, a seedstage accelerator. With twothirds of its allocations still going to businesses in North Africa, the growth will be modest. Kenya and its surrounding markets in East Africa would be added to the fund, as well as the francophone and anglophone regions of West Africa, which include Nigeria, Senegal, Côte dIvoire, Ghana, and Cameroon. It is only now that Flat6Labs is managing a fund for entrepreneurs in many countries, while having previously managed countryspecific funds, such as a $10 million Anava Seed Fund for Tunisian startups. Read More..

B2B Tech News | 7 months ago          

With a new €50 million fund, Rethink rethinks logistics and mobility.

A €50 million specialised fund with a focus on mobility, automotive, and logistics has been announced by Rethink Ventures. LPs include the European

A €50 million specialised fund with a focus on mobility, automotive, and logistics has been announced by Rethink Ventures. LPs include the European Investment Fund, a few family offices, ZF Ventures, Hellmann Worldwide Logistics, KION Group, Berylls, and HAVI. Nextgeneration vehicle technologies—software defined, autonomously operated, new powertrains—mobility—providing comfortable, safe, and affordable mobility for everyone—logistics—digital, automated, and sustainable operations—and energy—are the funds primary investment themes infrastructure to power a clean, emissionfree future of transportation. It has so far invested in three companies Rydes, a SaaS solution for businesses to promote sustainable employee mobility, Shipzero, a datadriven platform to measure and reduce CO2 emissions in international freight transportation, and Deftpower, an automotive charging platform. Read More..

B2B Tech News | 7 months ago          

WeRide, a robotaxi startup in China, has secretly filed for IPO.

According to Bloomberg on Monday, WeRide.ai, one of the most wellfunded Chinese robotaxi businesses, has applied in secret to go public in the United

According to Bloomberg on Monday, WeRide.ai, one of the most wellfunded Chinese robotaxi businesses, has applied in secret to go public in the United States. The company wants to raise up to $500 million, but geopolitical unrest and regulatory scrutiny made it difficult for it and other Chinese internet companies seeking U.S. IPOs to succeed. When WeRide raised its Series C round almost two years ago, its valuation soared to $3.3 billion a year later, its adversary Pony.ai reached an even higher valuation of $8.5 billion. Yet few investors are eager to write the sizable cheques needed to fund their latestage expansion, and WeRide observed how its rival Ponys IPO efforts failed. Former JPMorgan executive Lawrence Steyn joined Pony as its chief financial officer. Read More..

B2B Tech News | 7 months ago          

Joe Biden says that AUKUS is not a threat to anyone as the US and Australia share nuclear technology.

The AUKUS Australia, UK, US trilateral security pact is about securing stability in the IndoPacific region and is not intended to challenge China, so

The AUKUS Australia, UK, US trilateral security pact is about securing stability in the IndoPacific region and is not intended to challenge China, so US President Joe Biden has dismissed Chinas concerns about it. After the initial agreement, Australia will have the option to buy two more nuclear submarines, and the three countries intend to set up a submarine rotational force close to Western Australia. The agreement also calls for cooperation in the development of hypersonic weapons, artificial intelligence, and other cuttingedge technologies. Biden referred to the situation as an inflection point in history and asserted that the effort to increase stability and deterrence would have a longterm impact on the possibility of peace. Read More..

B2B Tech News | 7 months ago          

PowerCo, a subsidiary of the Volkswagen Group, will construct a battery gigafactory in Canada.

PowerCo is working on a new framework strategy to handle the logistics complexity of battery cell production, which includes new locations, energy and

PowerCo is working on a new framework strategy to handle the logistics complexity of battery cell production, which includes new locations, energy and supply needs, port and rail access, and transportation regulations. PowerCo and VW Group signed an agreement with the Canadian government in August of last year to promote battery electric vehicle development in the nation. The supply of battery raw materials, as well as the manufacturing of lowcarbon precursor and cathode materials, will enable a rapid and sustainable rampup of battery capacity. Volkswagen Group is increasing production of the ID.4 compact electric SUV in Chattanooga, Tennessee, and plans to upgrade manufacturing facilities in Puebla and Silao, Mexico. It will also bring back its Scout offroad name on an electric platform. Read More..

B2B Tech News | 7 months ago          



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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