Orange's new ship

Plus: A $53 million ship to help repair undersea internet cables withinin 24 hours.                                                                                                                                                                                                                                                                                                                                                                                                                 September 29, 2023 | [Read Online]( In partnership with Share this newsletter: //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxcgvP92e9jfD8_li8WpoDmUiOcNUHYUTOHQ-jo393S0egdk1wUoB8C2V1G-zobFa6IRJkg9gRFt_Qr2AMp28T6d/400/AwF-rkylSv6YFk6xvJjOIQ/h2/fjAI3LGj1MPvgG5v6xxvcS2Q6GI9yefWBuRtimiQz1U [Lire en Français]( [اقرأ هذا باللغة العربية]( Happy Friday!🎉 Moonshot is introducing TechCabal Battlefield, a startup competition where you can showcase your startup idea to a global audience and an esteemed panel of judges, and stand a chance to win up to ₦2.5 million ($3,200) in funding for your business! [The Sophie Germain vessel]( Experience innovation, connect with investors, and seize global recognition. Get your ticket to Moonshot and register your business for the startup competition now. [Register for TC Battlefield](. If you haven’t, [get your ticket to Moonshot]( now. In today's edition - [Orange’s new vessel for undersea repairs]( - [Enza Capital's new $54 million programme]( - [Auto24 expands into four African countries]( - [TC Insights: Funding Tracker]( - [The World Wide Web3]( - [Job openings]( Internet //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxcgvP92e9jfD8_li8WpoDmUiOcNUHYUTOHQ-jo393S0egdk1wUoB8C2V1G-zobFa6IRJkg9gRFt_Qr2AMp28T6d/400/AwF-rkylSv6YFk6xvJjOIQ/h16/f1zZU-fjkEoKesdFf7X31VemSZvVTyp7LSs-ov9nxHo Orange SA launches new vessel for undersea internet cable repairs [The Sophie Germain vessel]( The Sophie Germain. Image source: Orange French telecom giant Orange SA has unveiled its latest vessel to help maintain global internet connectivity. The telecom company [launched]( a €50 million ($53 million) vessel, the Sophie Germain, to repair undersea internet cables across the Mediterranean, Red, and Black Seas. Rapid response capability: The 100-metre-long ship can be dispatched within 24 hours of a cable fault report, and is equipped with an underwater robot that can dive down 3,000 metres to locate damaged cables, and swiftly retrieve, repair, and reposition them, which takes around three days. Furthermore, [the ship]( is slated to conduct approximately one repair mission each month, catering to clients including Meta Platforms Inc., Telecom Italia Spa, and China Telecom Corp. It will help maintain the 70,000 km (43,000 miles) of cable that allows internet traffic to flow between Europe, Africa and Asia. Orange Marine, a subsidiary of Orange SA, with a track record in repairing undersea internet cables, possesses seven of the 50 or so cable ships scattered across the globe. Located in La Seyne-Sur-Mer, South of France, it is positioned between China, the United States, and Africa, while maintaining proximity to crucial internet cable landing points like Marseille, Genoa, and Barcelona. Zoom out: Cable damage is most often caused by fishing activity, although sometimes earthquakes and rockfalls are to blame. In August, two undersea cables that connect South Africa to the global network [broke]( due to a rockfall in the Congo Canyon. Get a working card from Moniepoint With the Moniepoint personal banking app, you get reliable payments every time and a card that always works. Enjoy seamless payments powered by the infrastructure that 1.5 million businesses trust. [Download the app](. Funding //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxcgvP92e9jfD8_li8WpoDmUiOcNUHYUTOHQ-jo393S0egdk1wUoB8C2V1G-zobFa6IRJkg9gRFt_Qr2AMp28T6d/400/AwF-rkylSv6YFk6xvJjOIQ/h25/cpJdKAefM8IfLTF_9ovdkh-4o7bZZ5QCedXZ-V3ws5Q Enza Capital's new $58 million programme [Peter Kahi](Enza Capital Team. Image Source: TechCrunch Kenyan-based venture firm, Enza Capital, has [raised $58 million to support]( startups on the continent. The VC company, which invests from first cheque, at the pre-seed level to Series B started in 2019, with an aim to back “category-defining” tech companies across fintech, logistics, health, human capital, and climate verticals on the continent. Enza Capital has made 48 investments in 31 companies across the continent. The Nairobi-based firm also invested in Guidewheel, a Kenyan climate tech startup from its pilot phase. Enza Capital was also the first cheque investor in Autochek, SeamlessHR, Money 254, and Earthacre. An ownership twist? The VC firm is kickstarting a new shared ownership model that allows startup founders the ability to own part of the firm. Enza capital has allocated 10% of its carry pool to founders. Enza Capital wants to use the shared ownership to foster collaboration and alignment with the startup founders, Mike Mompi, managing partner of the VC firm [told TechCrunch in an interview](. According to him, the move increases the likelihood of success across all stakeholders in the venture capital structure. Zoom out: Enza Capital’s founder partner programme is the latest of different VC firms that are raising capital and raising the hopes of startups seeking funds in what seems to be a funding winter. Mobility //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxcgvP92e9jfD8_li8WpoDmUiOcNUHYUTOHQ-jo393S0egdk1wUoB8C2V1G-zobFa6IRJkg9gRFt_Qr2AMp28T6d/400/AwF-rkylSv6YFk6xvJjOIQ/h31/VJ6f-6Y_ntdViFIOI7F28lHv8peZjzaQprbDTaeZ7FI Ivorian startup, Auto24, expands into four African countries [NGX ](Image source: TechCabal Auto24, the Ivorian used car marketplace, has [expanded its presence]( into four new marketplaces. The startup expanded into Morocco, Rwanda, Senegal, and South Africa simultaneously, a year after it [launched in Côte d’Ivoire](. A strategic expansion: Per the CEO, Axel Peyriere, South Africa and Morocco were chosen due to their status as the two largest car markets on the continent. The expansion into Rwanda, on the other hand, serves as an entry point into East Africa, and a promising market for electric cars, aligning with Rwanda's eco-friendly policies. Lastly, Senegal was chosen due to its similarities with Ivory Coast, offering a natural fit for Auto24's expansion plans. The expansion into these new markets was made possible by careful planning and preparation, initiated months before the official launch, Peyriere stated. Additionally, customers in the newly added countries can access the platform in both international and local languages, allowing them to reserve and secure their desired vehicles before test-driving and finalising their purchases. Zoom out: According to Peyriere, [Auto24]( has had a successful year, assisting "thousands of customers" in purchasing cars without any warranty-related issues. He emphasised that their business model is notably virtuous, as their pre-owned vehicles offer greater affordability compared to new ones, aligning perfectly with the principles of a circular economy. TC Insights //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxcgvP92e9jfD8_li8WpoDmUiOcNUHYUTOHQ-jo393S0egdk1wUoB8C2V1G-zobFa6IRJkg9gRFt_Qr2AMp28T6d/400/AwF-rkylSv6YFk6xvJjOIQ/h38/EBMNxgjGkQEHF7gfA5aQGVpyaCVUn-YBz9T4ROF9f5c Funding Tracker [TC Insights graph]Image source: TC Insights This week, South Africa’s Revio, a payment platform, [announced]( a seed investment round of $5.2 million. The funding round was led by fintech fund QED Investors, joined by Partech, and continued participation from Revio’s existing investors— Speedinvest, RaliCap, and Everywhere VC. Here are other deals for the week: - Root Platform, a South African insurtech startup raised $1.5 million in funding in a round led by Invenfin, the venture and growth capital arm of Remgro. That's it for this week! Follow us on [Twitter](, [Instagram](, and [LinkedIn]( for more funding announcements. You can also visit [DealFlow](, our real-time funding tracker. Crypto Tracker //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxcgvP92e9jfD8_li8WpoDmUiOcNUHYUTOHQ-jo393S0egdk1wUoB8C2V1G-zobFa6IRJkg9gRFt_Qr2AMp28T6d/400/AwF-rkylSv6YFk6xvJjOIQ/h46/oW_OEcqd2N9YWVWTQC2A9OwA8NJ1yFF0LoWa740jGcM The World Wide Web3 Source: [Tc_insight] Coin Name Current Value Day Month Bitcoin $27,124 + 3.49% + 4.30% Ether $1,657 + 4.03% + 0.67% BNB $215 + 1.97% - 5.14% Cardano $0.2495 +2.11% - 6.19% * Data as of 9:47 PM WAT, September 28, 2023. [OneLiquidity GIF]( Elevate your business with One Liquidity's seamless integration. Choose from 10+ services to craft a custom solution. Join Obiex, Wewire, and others in providing trading, liquidity and compliance services. [Start now with zero fees](. One Integration. One Solution. One Liquidity. Job opportuinities //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxecuxXQ4h39wVsASeAMGo3qi4RfJZhPJ98UDXsR1Qrfag/400/AwF-rkylSv6YFk6xvJjOIQ/h51/ToBZQndaUaA3lkK2eJjJiDH9UoFn2RQYAQGyx6pJyLk - Parvana - [Project Manager](- Cape Town, South Africa (Hybrid) - Wasoko - [Senior Product Manager]( - Nairobi, Kenya (unspecified) - iOCO- [Senior Andriod Developer](- Cape Town, South Africa (unspecified) - uLesson - [Digital Marketing Manager]( - Abuja, Nigeria (Unspecified) - Tushop - [Senior Backend Engineer]( - Nairobi, Kenya (On-site) - SUMMIT Africa Recruitment -[Product Manager]( - Cape Town, South Africa (Hybrid) There are more jobs on [TechCabal’s job board](. If you have job opportunities to share, please submit them at [bit.ly/tcxjobs](. What else we are reading - [This Nigerian startup wants to build your dream PC]( - [South Africans can shop for contraceptives online with this femtech]( - [Madica plans to invest $6 million in African pre-seed startups. Here’s how]( - [Upwork in South Africa: The copywriter working 20 hours per day]( Written by - [Mariam Muhammad]( & [Faith Omoniyi]( Edited by - [Timi Odueso]( Want more of TechCabal? Sign up for our insightful newsletters on the business and economy of tech in Africa. - [The Next Wave](: futuristic analysis of the business of tech in Africa. - [Entering Tech](: tech career insights and opportunities in your inbox every Wednesday at 3 PM WAT. - [In a Giffy](: business decisions powered by data-driven insights and analysis you can trust. P:S If you’re often missing TC Daily in your inbox, check your Promotions folder and move any edition of TC Daily from “Promotions” to your “Main” or “Primary” folder and TC Daily will always come to you. 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