Report: AI investments see largest year-over-year growth in 20 years

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Results indicate that COVID-19 has contributed to a surging global interest in AI from both governments and investors.Read More

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Nigerian fintech Abeg faces its biggest test yet after blitzscaling to millions of users

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On October 3, “ Big Brother Naija ,” a reality show sponsored by Nigerian social payments company Abeg, came to a rapturous close after 72 days on air . The show, which commenced on July 24, is the most popular and most-watched reality show in Africa, raking in impressive numbers in terms of money and viewership . The “Big Brother” franchise, started in the Netherlands, has been duplicated worldwide, including Nigeria, where pay-TV company MultiChoice Nigeria organizes it . It features a group of people who live together in a huge house, detached from the outside world but watched via television cameras . The recent season of “Big Brother Naija” was the sixth since launching in 2006. In its fifth season, the show’s organizers claimed that viewers cast a whopping 900 million votes. With millions of eyeballs tuned in to watch the show daily, it is only fitting that companies looking to appear before viewers have to pay a premium . According to some sources, it costs $2 million...
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NoBroker becomes India’s first proptech unicorn with fresh $210 million funding

An Indian startup that is improving the way how millions of people in the nation lease or buy an apartment is the latest firm to become a unicorn in the South Asian market. Bangalore-based NoBroker has raised $210 million in its Series E financing round, its founders told TechCrunch in an interview. Tiger Global and General Atlantic, two existing investors, and Moore Strategic Ventures co-led the eight-year-old startup’s Series E financing round. The round values NoBroker, which has raised $361 million to date and counts Elevation Capital and Paytm founder Vijay Shekhar Sharma among its investors, at $1 billion, up from about $350 million in April 2020 . There was no secondary transaction — that is, sales of shares by any existing investors including the founders — in the new funding round, the founders said. NoBroker helps people looking to buy or lease an apartment avoid brokers, thus avoiding brokerage fee. The startup operates in several major Indian cities including Bangalore...
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