💰 Kubik closes $5.2m seed round |📱Meta launches Bonus for Threads' creators

Today’s Menu ☕️

💰 Kubik secures an additional $1.86 million, concluding its seed round at a total of $5.2 million
📱Meta confirms launch of a bonus program for creators on Threads
🤖 OpenAI Partners with Financial Times to Enhance ChatGPT Experience

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💰 FUNDING

Kubik secures an additional $1.86 million, concluding its seed round at a total of $5.2 million

Kubik, a startup focused on plastic upcycling, has secured a $1.86 million seed extension, closing its $5.2 million seed funding round. It announced an initial raise of $3.34 million in June 2023. This significant milestone not only marks Kubik’s emergence as a key player in the climate and sustainability solutions space but also positions it as the first Ethiopian company to secure a multi-million dollar investment in this arena.

Founded by Kidus Asfaw and Penda Marre in 2021, Kubik’s core mission revolves around leveraging environmental technology to transform plastic waste into low-carbon, durable, and affordable building materials. By doing so, Kubik not only tackles plastic pollution but also promotes greener, cleaner development practices across Africa. The company’s products offer cost savings of at least 40% per square meter compared to traditional cement-based construction, while also emitting 5x fewer greenhouse gas emissions.

The funding infusion will enable Kubik to scale its production capacity, expand its team and market presence in Ethiopia, enhance its technology for waste traceability and environmental impact tracking, and empower female waste collectors. These strategic initiatives align with Kubik’s vision of driving sustainable growth and making a meaningful difference in communities across Africa.....….continue reading

📱SOCIAL MEDIA

Meta confirms launch of a bonus program for creators on Threads

The Nigerian government, under President Bola Tinubu’s administration, has launched a comprehensive data tracking system aimed at addressing shortcomings in the nation’s education sector. This initiative marks a major step towards tackling issues such as lagging student performance, low enrollment rates, and inadequate support for vulnerable learners.

A statement issued by Presidential Spokesman Ajuri Ngelale emphasises the current lack of reliable data within the Nigerian education system. This deficiency has severely hindered effective planning and targeted interventions needed to improve student outcomes.

The new data tracking system promises to empower educators and policymakers with the information needed to make informed decisions. Schools will be able to identify struggling students early on, implement targeted support measures, and monitor their progress. Government agencies will be able to analyze trends across the sector, allocate resources strategically, and track the impact of policies effectively.....….continue reading

🤖 ARTIFICIAL INTELLIGENCE

OpenAI Partners with Financial Times to Enhance ChatGPT Experience

In an exciting development, OpenAI has announced a strategic partnership with the Financial Times, marking its first major collaboration with a UK news publisher. The agreement will see OpenAI incorporating attributed content from the Financial Times into its ChatGPT responses, providing users with access to summaries, quotes, and links from the esteemed newspaper.

While the financial terms of the deal were not disclosed, both OpenAI and the Financial Times expressed enthusiasm about the partnership. Brad Lightcap, OpenAI's Chief Operating Officer, highlighted the opportunity to enrich the ChatGPT experience with real-time, world-class journalism for millions of users worldwide......….continue reading

OTHER STORIES

• Meta Offers $5K Bonus for Influencers to Post to Threads….read more

• Competition watchdog orders Glovo and Uber Eats to open Kenya offices…..read more

OPPORTUNITIES

• Call for Applications: 4th Cohort of AUDA-NEPAD’s Healthcare Accelerator Program…..read more

• Mastercard Foundation Fund Invites Agribusiness SMEs to Apply for Resilience and Prosperity Grants….read more

• Huawei invites applications for Kenya’s Seeds for the Future Programme 2024…..read more

• Entries open for 2024 Edition of Global Startup Awards Africa: Aiming to spotlight Africa’s top innovators and entrepreneurs…..read more

• 12 African entrepreneurs win a total of US$400,000 in grants from the FINCA Ventures Prize Competition…..read more

• Irish Tech Challenge 2024: Call for South African startups to help address global issues….read more