- According to estimates from the International Data Corporation, 5G continued a growth trajectory in 2022, nearing 700 million units shipped in the year.However, the growth rate is beginning to slow down as it becomes the de facto cellular technology in high and premium-tier smartphones. The…
- Jendaya, a one-year-old e-commerce start-up, has raised £1 million ($1.2 million) in pre-seed funding and has launched to centralize cross-border commerce between African and global luxury brands.The platform is connecting African and African diaspora luxury brands with high-end consumers worldwide…
- The COVID-19 pandemic has dramatically changed how companies find and hire top talent. The traditional methods of searching for candidates through applicant tracking systems (ATS) are no longer enough to keep up with the shift towards remote work.This is where PeakU comes in – a startup founded in…
- GitHub, the software development and version control service provider that is owned by Microsoft, has announced plans to cut 10% of its workforce and move the rest of its employees to remote work in an effort to secure its financial stability. In an email to employees, CEO Thomas Dohmke explained
- According to a recent report by Synergy Research Group, enterprise spending on cloud infrastructure services saw a 21% growth year-over-year (YoY) in the fourth quarter of 2022, reaching $61.6 billion worldwide.Although this number is $10 billion more than the previous year's period, the growth…
- DILA Capital, a venture capital firm based in Mexico, has successfully closed its fourth fund, raising a total of $115 million. This funding will allow the firm to expand its portfolio of startups in various sectors such as fintech, SaaS, Edtech, E-commerce, Proptech, Healthtech, and logistics.With…
- Meituan, the Chinese food delivery firm, plans to hire 10,000 workers in the first quarter of 2023 as the "consumption recovery trend" in China accelerates, according to the company.The announcement came despite the ongoing COVID-19 pandemic that has led to a slowdown in the Chinese economy
- The Draft – Techloy's subscriber-only newsletter brings you data-driven news and insights into technology across the world's largest emerging markets from trusted sources. This week (end)'s edition was curated by Yeboah and edited by Loy.The world is at the cusp of an AI
- Female-led and female-founded startups in Africa attracted less funding in 2022 than they did in 2021, according to a report by Africa: The Big Deal.The amount of funding raised by female CEOs decreased both in absolute ($188m in 2022 vs. $290m in 2021) and relative numbers (3.9% vs.
- Egypt-based marketing CRM platform Gameball has secured $3.5 million in a seed round led by 500 Global, P1 Ventures and Launch Africa Ventures, and also included Seedra Ventures, Arzan Ventures, Propeller and Core Vision alongside regional angel investors.Founded in 2020 by Ahmed Khairy, Ahmed El…
- Electronic Arts (EA) recently released its earnings result for the third fiscal quarter that ended December 31, 2022, which showed a reduction in full-year revenue guidance.The Star Wars, Madden, and Battlefield publisher now projects its revenue to be between $7.25 billion to $7.35 billion, down…
- The Indian wearable market marked a strong year-over-year growth in 2022. The market grew 46.9% YoY as shipments reached 100 million units, according to recent data from the International Data Corporation (IDC).Across the product categories, the Earwear category boasted a sizeable portion of…
- SoftBank Group reported a quarterly loss on February 7, 2023, as its Vision Fund investment unit remained in the red for the fourth consecutive quarter.The Vision Fund, known for its big bets on startups, reported an investment loss of 730.36 billion yen ($5.52 billion) in the fiscal
- In a groundbreaking moment for the Nigerian public market, MTN Nigeria, the largest telecom company in the country by subscriber base, has reported record-breaking revenue growth in its 2022 financial report.The company recorded a staggering ₦2.01 trillion in revenue, a 21.6% increase from 2021,…
- Worldwide cloud infrastructure services expenditure grew 23% YoY, an increase of $12.3 billion in Q4 2022 to reach $65.8 billion, according to a report by Canalys.However, the quarterly growth rate slumped by over 10% from Q1 2022 (34% in Q1 2022 against 23% in Q4 2022) amid
- Advanced Micro Devices (AMD) reported its fourth-quarter 2022 earnings, surpassing Wall Street's expectations for sales and profits. The company reported an adjusted EPS of $0.69 per share, compared to the expected $0.67 per share, while revenue was $5.6 billion, compared to the estimated $5.5
- Thrive Capital, a New York-based firm, has reportedly committed fresh funding of $1 billion dollars to Stripe, as part of a new investment that could value the payment technology company at $50 billion.According to a report by The Information in January, Stripe held talks to raise $3 billion from
- Venture capital investments in Australia plunged by about a third in 2022, following the lead of listed global technology companies and venture markets.Venture funding in the region topped at AU$7.4 billion ($5.16 billion) across 712 deals in 2022, a 30% slowdown from the AU$10.6
- Twitter has launched its subscription service, Twitter Blue, in India, Brazil and Indonesia, as the company aims to expand its monetization efforts.Twitter Blue offers users on the social media platform a range of added features such as the blue check mark, the ability to edit tweets, longer videos…
- Chinese e-commerce giant Alibaba is reportedly testing its own rival to ChatGPT, joining in the AI chatbot frenzy that has taken up 2023 by storm.The e-commerce giant is one of the latest tech companies to start working on its own generative AI chatbot that can do anything from mimicking
- IBM's quarterly revenue surpassed analysts' expectations due to higher growth in the company's software and infrastructure segments.The total revenue was reported at $16.69 billion for Q4 2022 flat compared to what analysts had expected to decline for the first time in two years.
- London-based cryptocurrency exchange Luno is the latest company in the industry to announce layoffs, cutting 35% of its global workforce.CEO Marcus Swanepoel informed employees of the redundancies in a live-streamed town hall, stating that the company has not been immune to the turbulence that has…
- Quora has announced it is opening public access to its new AI chatbot app, Poe which stands for “Platform for Open Exploration”, that will let users ask questions and get answers from a range of AI-powered chatbots.This was announced by the company's CEO, Adam D&
- According to new data from Canalys, the worldwide PC and tablet market saw a decline in shipments in Q4 2022. Shipments of PCs and tablets fell 21% YoY to reach 105.6 million units, bringing the full-year total to 434.5 million units, a 13% drop from 2021.Despite the
- Prosus NV, a subsidiary of Africa’s largest e-commerce company by asset value, Naspers, plans to reduce its corporate workforce by 30%, amid a global tech industry downturn.This comes after Prosus' parent company Naspers posted a shaky H1 2022 financial result in November, citing higher inflation…
- Microsoft has announced the integration of OpenAI's GPT-4 model into Bing, providing a conversational experience within the search engine. The latest version of Bing features the option to start a chat in its toolbar and deliver results based on the GPT-based model.The new experience is now live
- Central Africa was by far the region where startups raised the least funding through deals of 3$100K and over with a total of $51 million in 2022, according to data from Africa: The Big Deal.Funding in the region represented only 1.1% of the funding raised on the
- Dutch chip equipment manufacturer ASML has announced a projected 25% increase in net sales for 2023 compared to the previous year.The company produces machines that are crucial in the production of advanced chips and its clients include tech giants such as Intel and TSMC.ASML's net sales
- ShopUp, the largest full-stack B2B commerce platform in Bangladesh, has announced a major milestone in securing $30 million in debt financing. This round of funding will be used to drive expansion efforts and strengthen the company's supply chain operations, benefiting small businesses and…
- The global semiconductor market experienced significant ups and downs in 2022, with record-high sales early in the year followed by a cyclical downturn later in the year amid macroeconomic conditions and short-term fluctuations in sales due to market cyclicality.According to the report by the…
- Palm.hr, a Saudi-based HR-tech startup founded by Richard Schrems, Christoph Czichna, and Dragan Nikolic, has raised $5 million in a pre-Series A funding round led by Europe-based VC Speedinvest and RAED Ventures, with participation from Wamda Capital.Palm.hr provides a mobile-first solution to…
- Nigerian digital bank Umba has launched operations in Kenya as it begins its expansion across the African continent to open up banking services for Africa’s vast, underserved market.Following its acquisition of a majority shareholding in Daraja Microfinance Bank, Umba can now offer full banking…
- Microsoft has unveiled its new premium tier of Teams, which is powered by OpenAI's GPT-3.5 AI language model.The new premium tier of Microsoft Teams offers businesses and teams a more comprehensive suite of collaboration tools and advanced meeting protections. The intelligent recap feature is…
- India's electric vehicle (EVs) market registered unprecedented growth in 2022, propelled by pent-up demand and rising consumer buying power, according to the latest Automotive Analysis data by Canalys.In 2022, India’s light vehicle market grew 23% to 3.8 million units. Initially, electric vehicles…
- Information and Communications Technology (ICT) spending across the Middle East, Turkey, and Africa (META) is expected to reach $233.8 billion in 2023, a 3.9% increase from 2022, according to the latest data from IDC.IDC's report predicts telecommunications services spending to increase 3.6% YoY to
- Addressable, a Tel Aviv-based provider of a SaaS Web3 marketing solution, has secured $7.5 million in a seed funding round.The round was led by Viola Ventures and Fabric Ventures, with participation from Mensch Capital Partners and…
- The Indian government is taking steps to ban 232 apps that provide betting and loan services in the South Asian market.The Ministry of Electronics and Information Technology said that it is working to enforce a ban on 138 betting and gambling apps and another 94 loan services apps, in
- Chipmaker Qualcomm has posted a 12% year-over-year decrease in its first quarter of the fiscal year 2023 which ended Dec. 25 in a press release last week.Net income also fell 34% to $2.24 billion. The company cited the macroeconomic environment and higher channel inventory as reasons for the
- SunFi, a Nigerian clean tech startup, has raised $2.325 million in seed funding to grow its operations.SunFi is a platform that connects people who want solar power to payment plans that match their needs. It offers two payment options: lease-to-own, where a deposit is followed by instalment…
- Global venture capital (VC) firm Partech has reached the first close of Partech Africa II, a €245 million ($263 million) fund aimed at early- and growth-stage startups across Africa.The firm exceeded its initial goal of €150 million ($163 million) and now aims to reach a final close
- Texas Instruments, one of the world’s largest chipmakers, suffered its first sales decline since 2020, amid a semiconductor industry slump.In its fourth-quarter earnings 2022 report, revenue declined 3.4% to US$4.67 billion (S$6.2 billion), breaking a run of double-digit percentage increases…
- Google has announced the launch of its new AI chatbot technology called "Bard", which will compete directly with OpenAI's ChatGPT.Powered by Google's large language model, LaMDA (Language Model for Dialogue Applications), Bard will be rolled out in the coming weeks and made available
- Sony has lifted its full-year profit outlook after record PlayStation 5 console sales helped earnings beat estimates, according to Bloomberg.The Tokyo-based group raised its PS5 sales forecast to 19 million units for the fiscal year ending March 2023, after selling 7.1 million units over the…
- Pinterest has made another round of job cuts just weeks after its first round of layoffs in December. The company has let go of almost 150 employees, which is less than 5% of its workforce, according to Bloomberg.The company confirmed the job cuts in a statement to TechCrunch but
- Dell, a leading technology company, has recently announced its plans to lay off 5% of its 133,000-strong workforce, equating to approximately 6,650 employees.The layoffs come amid declining global demand for personal computers and laptops, which has led to a decrease in computer shipments,…
- Teraco, a leading carrier-neutral data centre and interconnection services provider in South Africa, has secured a syndicated loan of ZAR 11.8 billion ($680 million) to fund the expansion of its key interconnection hubs located in Isando, Bredell, and Cape Town.The loan, led by Absa, was provided…
- Cenoa, the borderless super wallet improving access to dollar-based products in emerging markets, announces it has raised $7 million in Seed funding. The round was led by San Francisco-based venture capital firm Quiet Capital, and Underscore VC. Further investors include Human Capital, Ulu Ventures…
- Samsung Electronics' operating profit plummeted in the fourth quarter of 2022 due to weak demand for smartphones and semiconductors caused by the global economic slowdown.The company reported an operating profit of 4.3 trillion won ($3.5 billion), a 69% decrease from the same quarter the previous…
- Worldwide tablet shipments posted a decline of 3.3% year-over-year in 2022, totalling 162.8 million units, and ending two years of solid growth – although shipments remained well above pre-pandemic levels, according to preliminary data from the International Data Corporation (IDC).For the fourth…
- Industries across Indonesia have increased their investment in Big Data and Analytics software for better business decision-making to keep up with the changing market environment, according to International Data Corporation (IDC)The Big Data and Analytics software market in the region grew 14.7%…
