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QED and Partech back South African payment orchestration platform Revio in $5.2M seed

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The payment landscape in Africa is still fragmented, with several payment operators providing different payment options to customers as well as businesses. Due to this fragmentation, payment failures are inevitable due to factors such as invalid cards, inactive accounts and high dispute rates.

One of the few startups working on payment orchestration to address this fragmentation is Revio from South Africa. Ruaan Botha, the co-founder and CEO, told TechCrunch that he started the fintech after learning how much time and manual effort businesses spend collecting payments across various providers and engaging customers on outstanding and failed payments.

“Digital payments are growing rapidly across Africa, projected to reach $146 billion in 2023, before taking into account almost $500 billion in mobile money transactions,” explained Botha. “However, there are unique market challenges and opportunities in how payments are made and collected on the continent. The most glaring is the immense fragmentation of the payments ecosystem, with more than 280 licensed payment service providers, 42 currencies and the unique consumer payment cultures that exist.”

The two-year-old startup assists companies in streamlining their order-to-cash lifecycles while handling issues brought on by employing various payment options via its APIs. In the latest development, the startup has raised $5.2 million in seed funding to strengthen its efforts in tackling these failed payments that cost digital businesses billions in recurring revenue yearly.

This is the second round of funding that Revio has received in the last 12 months. In November, it secured $1.1 million in pre-seed funding from investors, including Speedinvest, Ralicap and Everywhere VC. These investors wrote follow-on checks in the QED-led seed round, joined by growth-stage pan-African VC Partech.

The participation of QED and Partech, which are typically known for their growth-stage investments, in Revio’s seed round, according to co-founder and chief operating officer Nicole Dunn, is a testament to the relevance of its product (Partech Africa invests in Series A and B deals, and this is QED’s first seed check in an African startup after Moniepoint’s pre-Series C and Remedial Health’s Series A).

She remarked on a call with TechCrunch, “I think it’s a great signal for the ecosystem, not only for us but hopefully to the rest of the ecosystem. This should also encourage some of those investors that had committed to investing in Africa and started deploying before the downturn to follow the example that QED set by coming early into a seed round, even in this current market, especially in an African context.”

Orchestration reduces the cost, risk and complexity of payments

When a business operates in different countries and accepts various payment methods, using payment orchestration platforms becomes increasingly crucial. Just as Primer, Spreedly, and Zooz, via their APIs, handle this heavy lifting in the U.S. and Europe, Revio and similar upstarts, including Egypt-based MoneyHash, do the same for Africa.

Dunn stated on the call that Revio has developed an order-to-cash lifecycle or end-to-end payment value chain that merchants can use to collect revenue from their customers. Through its API, these merchants connect to more than 70 payment methods and service providers, giving them access to transaction routing, automated failover and retries, and real-time customer engagement workflows to increase payment success rates.

In addition, Revio recently unveiled a revenue recovery use case based on the realization that payment failure in Africa isn’t always due to technical difficulties; it might also be the consequence of insufficient funds or an abandoned authorization. To that end, the platform drives real-time action via channels like email, SMS, WhatsApp and push notifications to re-engage consumers in the checkout process and provide them with a more convenient payment method (cash or flexible payment plans). “It’s really around bridging the merchants’ need to connect with the consumer realities on the ground. And that’s been quite differentiated in the broader market context,” says Dunn.

Another reality is that payment orchestration platforms need broad coverage to serve businesses that transact across different markets to capture enough value for them. The Cape Town-based fintech says it has made strides in that regard, expanding its scope to encompass over 25 African markets.

The Revio team. Image Credits: Revio

Even though Revio has roughly 50 customers, less than half of them — enterprise and mid-market customers — are mostly responsible for this growth in coverage. Last year, Revio described its customers as large-scale enterprises to midmarket corporates and fast-growing scale-ups involved with recurring revenue businesses and high transactional volumes. However, due to learnings over the past year, Revio concentrates more on large-scale enterprises with complex payment requirements.

“We’re not actively going for a high volume of clients. We’re going for very high-value clients that have very complex payment needs. We’ve switched off things like product-led onboarding to being able to build and dominate in the enterprise sales,” the COO said. “These companies are typically in multiple markets but headquartered in Africa or recurring revenue businesses that are somewhat underserved and have unique risks and complexities around collecting payment tokenization and tackling high failure rates. They’re the ones that benefit from Revio’s services.”

These clients include four of Africa’s largest insurers and two of the continent’s largest telcos (Old Mutual, MTN’s aYo, Innovation Group and Standard Bank are examples).

According to Dunn, Revio, which has seen its revenue increase by 1,000% in the past year, also plans to target global retailers servicing the African market during its next development phase. She said the startup has begun interactions with a few of these merchants to understand better what it would take to service them effectively, mainly as it builds capabilities around cross-border reconciliation settlement. The newly injected capital will develop the company’s technological capabilities in this regard and expand its team by hiring talent within and outside the continent.

“We have a strong conviction that payments in Africa hasn’t been fully solved. Revio is building a platform that can unlock increased e-commerce and digital payment activity on the continent and help global and local merchants reach new customer segments,” said Gbenga Ajayi, partner and Africa lead at QED Investors. “We are excited to back the exceptional team that has proven they can execute even in tough market conditions and localize very strongly to win enterprise customers.”



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NASA video shows spacecraft’s wild ride around ocean world

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NASA’s Europa Clipper spacecraft is in for a wild ride.

The launch of this mission to explore the ocean world Europa — a Jupiter moon that harbors an ocean perhaps twice the volume of all Earth’s seas — was interrupted by the imposing Hurricane Milton, but its 1.8-billion-mile journey is imminent. The craft will make nearly 50 close flybys of Europa’s cracked, icy shell, using a number of high-resolution cameras, a ground-penetrating radar, and even a device that will literally sample particles of Europa that have been ejected into space by tiny meteorites.

The mission will gather copious amounts of information, enough to discern whether or not Europa harbors conditions that could host life beneath its ice shell.

“It’s perhaps one of the best places beyond Earth to look for life in our solar system,” Cynthia Phillips, a NASA planetary geologist and project staff scientist for the space agency’s Europa Clipper mission, told Mashable.

The repeated reconnaissance will require the craft to make perfectly timed loops around Jupiter as it intersects Europa’s orbit, which NASA shows in the animation below.

Here’s what you’re watching (a short ad plays first):

– Center orange dot: Jupiter

Mashable Light Speed

– Blue dot: Europa

– Gray, red, and yellow dots: Respectively Jupiter’s other three large moons — Io, Ganymede, and Callisto

– Magenta: That’s Europa Clipper “lopping in and out,” NASA explained.

There’s also a timestamp on the top right showing the mission’s planned flight between April and July 2032.

"The relative intensity of Jupiter's radiation bands is illustrated in this diagram," NASA explains, with darker reds depicting more radiation. Both Europa and Europa Clipper's orbits are depicted in the graphic.

“The relative intensity of Jupiter’s radiation bands is illustrated in this diagram,” NASA explains, with darker reds depicting more radiation. Both Europa and Europa Clipper’s orbits are depicted in the graphic.
Credit: NASA

This looping trajectory is also designed to limit the spacecraft’s exposure to extreme radiation. “The charged particle environment at Europa’s location is immense,” Phillips said.

That’s because Jupiter, a gas giant planet 317 times more massive than Earth, generates a massive magnetic field shooting out between 600,000 to 2 million miles (1 to 3 million kilometers) toward the sun. It’s created by the planet’s liquid metal core, which spins and creates electrical currents (moving electric charges make magnetic fields). Crucially, this magnetic field grabs and then accelerates particles from the relentless solar wind — a stream of rapidly traveling charged particles emitted by the sun — which creates potent radiation belts around Jupiter, as depicted above.


“You get out of there.”

(Decades ago, during the Voyager mission, NASA’s engineers were worried about the craft passing by Jupiter. A person hypothetically riding aboard Voyager as it passed Jupiter would have gotten hit with a radiation dose 1,000 times the lethal level.)

Not all of Europa Clipper’s electronics and software can be housed in a metal vault, so looping by the moon for relatively brief periods will limit impacts from charged particles, which can damage computer chips and electronics. During each orbit around Jupiter, the craft will spend under a day in an irradiated zone before swooping out. It won’t return for between two to three weeks.

“You get out of there,” Phillips said.

After journeying through the solar system, the craft is expected to reach Jupiter in 2030, and soon after begin its orbital dance through the Jovian system. If it appears habitable, NASA plans to return to Europa and land a robot on the icy crust. Such an endeavor would drill into the ice, looking to see if the moon is inhabited.





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NASA thinks it found a moon light-years away spewing gas

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Scientists have never actually seen a moon orbiting a planet other than the ones in this solar system. An exomoon, a companion to an exoplanet, likely would be too tiny and far away for telescopes to resolve. 

But a new NASA study may have found a clue that one is orbiting a planet some 635 light-years from Earth. The inference comes from a vast sodium cloud spotted in space. Whatever is causing it produces about 220,000 pounds of sodium per second. 

The research suggests a rocky moon circling exoplanet WASP-49 b, a Saturn-sized gas giant discovered in 2017, is the source. That could mean the distant world is accompanied by a moon like Jupiter’s Io — a highly volcanic place, blasting out its own massive cloud of gasses 1,000 times wider than Jupiter.

“The evidence is very compelling that something other than the planet and star are producing this cloud,” said Rosaly Lopes, a planetary geologist who co-authored the study, in a statement. “Detecting an exomoon would be quite extraordinary, and because of Io, we know that a volcanic exomoon is possible.”

Exomoon creating a sodium cloud

An exomoon could be the source of a bewildering sodium cloud found around an exoplanet.
Credit: NASA / JPL-Caltech illustration

This is not the first time astronomers have suspected an exomoon was lurking in their data. There have been exomoon candidates discovered in the past, though confirming their existence is much more difficult. Scientists such as Apurva Oza, once a postdoctoral researcher at NASA’s Jet Propulsion Laboratory, are interested in finding unconventional ways to detect them for what they could represent: Moons throughout the galaxy could also potentially offer habitable conditions for life, even if their host planets don’t. 

That’s why Oza wanted to return to studying WASP-49 b to further investigate the source of its bewildering cloud. Researchers used a ground-based telescope to observe the silhouettes of the cloud and the exoplanet as they passed in front of the host star. 

Mashable Light Speed

At one point, they noticed that the cloud was moving faster than WASP-49 b and away from Earth. If the cloud were coming from the exoplanet, they figured they would have seen it moving toward Earth. The observation led them to conclude that the cloud was coming from a separate source, according to the paper recently published in Astrophysical Journal Letters.

Moon orbiting an exoplanet

Exoplanet WASP-49 b could have an exomoon similar to Jupiter’s Io, a highly volcanic world pumping gasses into space.
Credit: NASA / JPL-Caltech illustration

“We think this is a really critical piece of evidence,” said Oza, a staff scientist at Caltech and the lead author, in a statement. “The cloud is moving in the opposite direction that physics tells us it should be going if it were part of the planet’s atmosphere.”

The team’s research provided other clues that an exomoon was making the cloud. Both the planet and the star are mostly made of the lightest elements, hydrogen and helium, with hardly any sodium. Seemingly neither has enough to be responsible for the cloud. Scientists also used the European Southern Observatory’s Very Large Telescope in Chile to see that the cloud hovers high above the exoplanet’s atmosphere — just like the cloud Io envelops around Jupiter. 

Next the team developed computer models to see if an exomoon could be the cloud’s catalyst. Their simulations found that a moon with a snug eight-hour orbit around the planet could explain the cloud’s motion — the way it seemed to sometimes drift in front of the planet and how it didn’t appear to be tied to any particular region of the alien world. 

Jupiter's moon Io

Jupiter’s moon Io, seen in multiple views above, is the most volcanically active world in our solar system.
Credit: NASA / JPL-Caltech / SwRI / MSSS

Scientists can’t say anything definitive about the exomoon because it’s just a candidate. But here’s what astronomers know about Io, the third-largest Jovian moon out of 95. Io is the most volcanic world in the solar system. Astronomers believe hundreds of volcanoes spew fountains that reach dozens of miles high.

Jupiter’s gravity squeezes Io‘s core as the moon moves closer, then slackens as it moves farther away. This swelling and contracting causes Io’s interior to heat up, triggering tidal volcanism

Scientists will need to continue observing this cloud to confirm its behavior, so the team is likely a long way from knowing with certainty if they have proof of an exomoon. Still, the results are thrilling for Oza, who believes looking for gas clouds — perhaps an order of magnitude larger than their source — could be an indirect method of finding habitable moons in other star systems.





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World’s First Private Space Station Is Like A Luxurious Hotel With Earth Views; Watch

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California-based aerospace company Vast has revealed the remarkable interior design of Haven-1, which is set to become the world’s first commercial space station. In a newly released video, the company showcased a habitat that looks more like a luxury hotel than a typical orbital laboratory. The design, both sleek and inviting, promises a new level of comfort for future space travelers.

Haven-1 features modern wood veneer accents, padded white walls, and amenities similar to those found in top-tier hotels. The station also offers visitors a fully equipped gym to help them stay active, even in zero gravity. Additionally, private rooms are outfitted with the latest entertainment and communication technologies, ensuring that astronauts can easily stay in touch with family and friends on Earth.

“Set to launch on SpaceX’s Falcon rocket in 2025, Haven-1’s first paying customers will board in 2026,” Vast said in a press release.

ALSO SEE: What Will Earth Look Like From Private Space Station? Axiom Space’s Astronaut Reveals

Accommodating up to four astronauts, Haven-1 provides a level of comfort far surpassing that of the International Space Station (ISS). Each astronaut will have a cosy private room, complete with storage, a vanity, and a specially engineered queen-sized bed to enhance sleep quality in space.

Veteran NASA astronaut Andrew Feustel, who has accumulated over 225 days in space, played a key advisory role in shaping the design and layout of Haven-1. His extensive experience contributed to ensuring that the space station would not only be functional but also comfortable for its inhabitants.

“From communication and connectivity, to private space and interacting with others aboard, to advancing human progress on Earth and beyond, every detail has been designed with the astronaut experience at the core of our work,” he said.

ALSO SEE: Astronaut Floats In Space As Tiangong Space Station Cruises Above Blue Earth; Watch

(Image: Vast)





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