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Vendease, closes $30 million Series A round to expand services to more restaurants

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In order to link food businesses with suppliers, Wale Oyepeju, Gatumi Aliyu, Olumide Fayankin, and Tunde Kara launched Vendease in 2019.

However, the business quickly encountered other hurdles, such as slow delivery times and problems with quality control.

To handle the flow of food supplies from one point of production to the point of consumption, the business started working on a full payment, logistics, storage, and inventory management system.

By utilizing data, lowering waste, and boosting profitability, Vendease enhances business operations throughout the value chain.

According to the business, their “digital procurement engine” makes it simpler for restaurants in eight locations across Nigeria and Ghana to purchase food supplies at rates markedly lower than those found on the open market, with a 12-hour delivery guarantee.

Additionally, Vendease’s clients can obtain working cash through its Buy Now, Pay Later program, maximizing their chances for expansion.

According to the business, its platform has witnessed a threefold increase in users and a fivefold increase in revenue over the past year.

Through its incorporated finance offering, users have also gotten access to approximately $12 million in inventory.

The funding will make it possible for the company to serve more establishments. Additionally, it will expand its food companies throughout Africa and develop fresh products and services to spur development along the entire food value chain.

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US Bans Sale of Chinese Tech Amid Security Fears

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The United States has prohibited the sale and import of new communications equipment from five Chinese companies, including Huawei and ZTE, due to national security concerns.

Hikvision, Dahua, and Hytera are also included as manufacturers of video surveillance equipment and two-way radio systems.

It is the first time that US regulators have taken such a step for security reasons.

Hikvision claims that their goods pose no security risk to the United States.

It stated that the decision “would do nothing to protect US national security, but will significantly increase the risk and cost for US small enterprises, local governments, school districts, and individual consumers to safeguard themselves, their homes, businesses, and property.”

Previously, Huawei and others denied providing data to the Chinese government.

The US Federal Communications Commission (FCC) announced on Friday that its members had voted unanimously to adopt the new rules.

“The FCC is committed to protecting our national security by ensuring that untrustworthy communications equipment is not authorised for use within our borders,” the commission’s chairwoman Jessica Rosenworcel said in a statement.

“These new rules are an important part of our ongoing actions to protect the American people from national security threats involving telecommunications,” she added.

Because the restriction is not retroactive, the companies mentioned may continue to sell products that were previously approved for sale in the United States.

However, the FCC stated that it is collecting opinion on future modifications to the rules involving equipment previously authorized to be imported or sold, implying that existing authorizations may be removed in the future.

The US restrictions are the latest imposed on Chinese IT businesses in response to surveillance fears, which US officials have grown increasingly concerned about in recent years.

Actions to restrict Chinese telecom corporations’ access to the US market initially took root during Barack Obama’s presidency. They were then accelerated during Donald Trump’s presidency and have continued under current US President Joe Biden’s rule.

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Mercedes to introduce acceleration subscription fee

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Mercedes-Benz will launch an online subscription service in the United States to help its electric vehicles accelerate faster.

The company would allow certain of its vehicles to sprint from 0-60mph in less than a second for an annual payment of $1,200 (£991) excluding tax.

It comes after competitor automaker BMW introduced a subscription service for heated seats earlier this year.

Mercedes has indicated that it does not intend to introduce “Acceleration Increase” in the UK at this time.

It will be offered in the United States on the Mercedes-EQ EQE 350 and EQS 450, as well as their SUV cousins.

According to the Mercedes US online store, the technology “electronically enhances” the output and torque of the car’s motor.

BMW received outrage in July after announcing that consumers may pay £25 per month to unlock heated seats and steering wheels in their vehicles.

Toyota also stated in December 2021 that it would charge select drivers $8 per month to remotely start their automobiles using a key fob.

Tesla introduced “Acceleration Boost” in 2019, which allows Model 3 vehicles to accelerate from 0-60mph in half a second for a one-time fee of $2,000.

The US Mercedes storefront lists the Acceleration Increase subscription as “coming soon,” with no specific release date.

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Musk says Twitter will offer ‘amnesty’ to suspended accounts

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Elon Musk has stated that Twitter will grant “universal amnesty” to certain suspended accounts beginning next week.

This comes after he launched a poll on Twitter on Wednesday, asking people if accounts that had “not breached the law or engaged in flagrant spam” should be allowed back on the platform.

Mr Musk has already restored several accounts, including that of former US President Donald Trump.

Last month, the world’s richest man paid $44 billion (£36.3 billion) for Twitter.

Mr Musk’s poll received over 3.1 million responses, with 72.4% voting “Yes.”

“The populace has spoken. The amnesty period begins next week “Mr Musk, who has 118.7 million followers on Twitter, later tweeted.

He also used the Latin phrase “the voice of the people is the voice of God.”

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