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Goldman leads $30M Twiga raise, China grows tech influence, Jumia weathers lockup-expiry – TechCrunch

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Kenya’s Twiga Foods raised a total of $30 million in October from lenders and investors led by Goldman Sachs.

This adds to the list of African startups the U.S. financial firm has backed, including e-commerce venture Jumia and South African fintech startup Jumo.

Twiga, a B2B food distribution company, will use its funds to set up a distribution center in Nairobi and deepen its conversion to offering supply chain services for both agricultural and FMCG products.

The startup is also targeting Pan-African expansion to French speaking West Africa by third quarter 2020, CEO Peter Njonjo told TechCrunch.

The venture has moved quickly on diversifying its supply-chain product mix. “We’re not just doing fruits and vegetables…I’d say we’re at 50/50 now between FMCG  and fresh,” said Njonjo.

Twiga doesn’t plan to move toward entering or supplying B2C e-commerce, where it could become a competitor to other online retailers, such as Jumia.

But the company has factored for advantages in the B2C e-commerce space. “If you’re able to serve Nairobi’s 180,000 retailers, it means that the furthest customer would be less than two kilometers away from any shop. That’s the power of building a B2C business on top of a B2B platform. So definitely, the potential is there,” said Njonjo.

China is known for its relationship with Africa based on trade and infrastructure, but not so much for tech. That’s changing with a number of Chinese actors increasing the country’s digital influence across the continent’s tech markets.

This includes Africa focused mobile phone Transsion’s IPO and planned expansion in Africa and recent moves on the continent by Alibaba and Chinese owned Opera.

In an ExtraCrunch feature, TechCrunch detailed China’s growing tech ties with Africa and what they could mean for the continent’s innovation ecosystem and Africa’s relationship with China overall.

In two stories in Ocotober, TechCrunch followed Jumia’s IPO lockup expiry and volatile share-price ahead of the Jumia’s November third-quarter earnings call.

The Africa focused e-commerce company — with online verticals in 14 countries —  has had a bumpy ride since becoming the first tech venture operating in Africa to list on a major exchange. Jumia saw its opening share price of $14.50 jump 70% after its NYSE IPO in April.

Then in May, Jumia’s stock tumbled when it came under assault from a short-seller, Andrew Left, who accused the company of fraud in its SEC filings.

In August, Jumia’s 2nd quarter earnings showed upside and downside: revenue growth still with big losses. Much of it may have been overshadowed by Jumia’s own admission of a fraud perpetrated by some employees and agents of its JForce sales program.

Jumia’s core investors appeared to show continued confidence in the company in October, when there wasn’t a big sell-off after the IPO lockup period expired.

It appears that what Jumia disclosed does not validate the claims in Citron Research’s May report. But the markets still seem wary of the company’s stock, which now stands at roughly half its opening IPO price.

Jumia will have a chance to clear up any lingering confusion and showcase its latest numbers on its third-quarter earnings call November 12.

TechCrunch reported additional details to two big African tech market events that happened over the last year. First, Naspers Foundry’s new leader, Phuthi Mahanyele-Dabengwa, confirmed the 1.4 billion rand (≈$100 million) VC arm of South Africa’s Naspers is accepting pitches.

Announced in late 2018, Naspers Foundry will make equity investments in various amounts, primarily from Series A up to Series B in South African ventures. Founders from other parts of Africa with startup operations in South Africa can be considered for funding, Mahanyele-Dabengwa clarified.

CcHub and iHub CEO Bosun Tijani revealed more detail about the recent merger of both names. CcHub – iHub will pursue more operating revenue from consulting and VC investing, vs. grants, according to Tijani. The new Nigeria and Kenya based innovation network will also look to bring an Africa startup tour to the U.S. and is considering opening an office in San Francisco, he said.

More Africa-related stories @TechCrunch

Africa can list more gazelles at home than unicorn IPOs abroadKenyan telco Safaricom’s Alpha incubator faces uncertain futureNigeria’s #StopRobbingUs campaign could spur tech advocacy group, CEOs saySahara Reporters founder Sowore remains detained in Nigeria

At the recent TechCrunch Disrupt SF, Senegalese VC investor Marieme Diop suggested that Silicon Valley’s unicorn IPO model might not be right for African startups. The is largely because the …

African tech around the ‘net

Kenya’s BitPesa secures $15M debt funding as it rebrands

SA’s SweepSouth banks $3.95M to expand, launch new services

TLCom hosts first summit for African female tech founders in Nigeria

 

 

 

 

 

 



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Xiaomi Redmi K40 Pro flaunts Snapdragon 888 and a shocking price tag

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Although it is Qualcomm’s best bet for 2021, very few phones so far carry its Snapdragon 888 chipset. Those that do also have rather high price tags, including the Xiaomi Mi 11 to some extent. The Chinese smartphone superstar, however, isn’t done with the Snapdragon 888 just yet and, at least for certain markets, it may have an even better offer in the guise of the Redmi K40 Pro and Redmi K40 Pro+.

The base Redmi K40 is actually the first of the brand’s K-series to use a Snapdragon 8-series processor. That said, Redmi opted for the Snapdragon 870 here instead, reserving the Snapdragon 888 for the “Pro” models. Both, of course, are 5G-capable and few users might see much difference between the two in real-world use.

The Redmi K40, Redmi K40 Pro, and Redmi K40 Pro+ do share many things in common, particularly the 6.67-inch Samsung E4 AMOLED display with a 2400×1080 resolution and 120Hz refresh rate. This screen has a punch-hole cutout in the middle, hiding a single 20MP camera common to all three. The siblings also have the same 4,520 mAh battery that supports 33W wired fast charging and no wireless charging capabilities at all.

They naturally differ in some aspects, particularly the cameras. While they share the same 8MP ultra-wide and 5MP telemacro cameras, only the Redmi K40 Pro+ boasts of having a 108MP Samsung ISOCELL HM2. The Redmi K40 Pro gets a 64MP Sony IMX686 while the Redmi K40 settles for a 48MP Sony IMX582.

As with many Redmi phones, price is where it’s at. The Redmi K40 Pro+, with 12GB of RAM and 256GB of storage, goes for 3,699 RMB ($570), lower than an equivalent Xiaomi Mi 11 at 4,699 RMB ($727). Of course, the Xiaomi Mi 11 has more features and some better hardware but the Redmi K40 Pro+ definitely covers the basics already. Xiaomi also announced the Redmi AirDots 3 for 199 RMB ($31) that will be launching on March 4 in China along with the Redmi K40 series.

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Wear OS “OK, Google” bug is finally getting a fix soon

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Smartwatches are rather curious little gadgets that are like miniaturized and watered-down versions of our smartwatches. For better or worse, that means that smartwatches can’t really use the same interaction conventions and UIs that are almost second nature on smartphones. While touch screens and buttons are always an option, Google has been pushing for more hands-free controls on Wear OS using Google Assistant. Unfortunately, an important part of the process has been broken for months before the company committed to working on a fix.

If Google’s vision is to be followed, smartwatches will primarily be controlled by voice with the screen simply providing visual feedback in addition to spoken responses. Google Assistant is perfect for that role and there are multiple ways to call it up on your wrist. The most convenient is, of course, to literally call it up with “OK, Google” or “Hey, Google” but, unfortunately, that is also the most broken method at the moment.

Users have been complaining that the wake words just don’t work on their Wear OS smartwatches, no matter the brand. It has apparently been the case since November last year but there are also claims that the problem was present even back in June 2020. During that period, Google has seemingly been silent, which naturally caused a lot of disappointment among Wear OS users.

The good news is that Google is no longer silent. It told The Verge that it is aware of users reporting issues and will work with its partners to address those. It doesn’t explain, however, why it took so long for it to even respond to the numerous and loud complaints.

Google also hasn’t given a timeline for the availability of the fix, which could still take weeks or even months. Unfortunately, the incident has opened up old wounds about the state of Wear OS and the dissatisfaction users have over its development or lack of it.

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Galaxy Tab S7 Lite 5G specs give weight to its name

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The tablet market today is mostly dominated by Apple’s iPads and only a few Android manufacturers have stuck to that device category through thick and thin. Samsung is arguably the biggest of those, launching a few tablets across different price tiers. Rumor has it that it has at least two more coming soon headed for the mid-range market. One of those may have appeared on a benchmark site showing that the Galaxy Tab S7 Lite 5G might indeed be light in almost every sense.

Samsung doesn’t always put out “lite” versions of its tablets and when it does, it doesn’t always use the same naming scheme. There was a Galaxy Tab S6 Lite last year but that was preceded by a Galaxy Tab S5e. Curiously, there was no “non-lite” Galaxy Tab S5.

There were rumors that a Galaxy Tab S7 Lite would be coming and, based on the most recent leak, it would have some heavyweight features like a large 12.4-inch screen and 5G connectivity. The latter, however, is no longer exclusive to high-end and expensive devices thanks to Qualcomm’s numerous 5G-capable chips and that seems to be the case with the mid-range version of last year’s high-end Samsung tablet.

Spotted on Geekbench is an entry for a certain SM-T736B, believed to either be the Galaxy Tab S7 Lite or a Galaxy Tab S8e. Although the entry doesn’t actually name the processor, MySmartPrice suggests that the specs, like the 2.21 GHz clock speed and Adreno 619 GPU, point to a Snapdragon 750G chipset. This is indeed one of Qualcomm’s mid-range processors capable of 5G connectivity.

The site also puts 3.28GB RAM in the tablet, which could either be 4GB or even 3.5GB in reality. The scores that this device gets on Geekbench aren’t exactly reassuring, especially for a tablet with a large screen and fast data connectivity.

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