Jumia, arguably, Africa’s largest e-commerce retailer has received $26 million (USD) in funding from Summit Partners, a $15 billion growth equity firm that invests in rapidly growing companies.

MIH Internet Africa, a subsidiary of South African media group, Naspers is said to be in talks to either acquire or invest into one of Nigeria’s leading e-commerce sites, a reliable source has revealed to TechLoy.

Spinlet, Africa’s premier mobile music streaming and download service is rumoured to have acquired Ghana’s mobile music streaming startup, Streemio, a yet-to-be-launched music service founded in January 2010.

Rocket Internet-backed e-commerce companies in Nigeria and South Africa, Jumia and Zando have received an undisclosed significant amount of funding from J.P. Morgan, believed to be in the double-digit million dollar range. The deal will see the investment company take a stake through a German holding company in an all cash-for-equity investment. The news comes following J.P. [...]

Cameroon-based real-time social TV chat platform, Djoss.TV has emerged winner of the Cameroon Startup Challenge, an award announced this year to reward the most innovative web, mobile or hardware-based business venture in Cameroon.

Africa’s largest social network, MXit has acquired mobile social network builder, Motribe for an undisclosed fee in a deal described as a “profitable exit for everyone involved”.

Ghana’s Saya, the Whatsapp for feature phones was voted as one of the top seven finalists at TechCrunch Disrupt Battlefield in San Francisco competing for the grand prize of the Disrupt Cup and a $50,000 prize money.

Savannah Fund, a seed investment fund focused on developing tech entrepreneurs in Sub-Saharan Africa today announced that it participated in a $2 million round into biNu, led by Eric Schmidt of TomorrowVentures and a number of other angel investors.

A new gaming start-up called Kuluya has launched today to provide an ultimate African gaming experience and change the continent’s gaming landscape.

Editor’s Note: Techloy’s new article series about Venture Capital is provided by Amoo Venture Capital Advisory, a firm that supports pre- and post-VC technology start-ups with advisory services and fund raising in OECD and Emerging Markets.

Former Intel Capital director, Eghosa Omoigui, early-stage technology investor, Shadi Mehraein and former VC Finance at Founders Fund, Amber Fowler, all Partners at Silicon Valley-based venture capital firm, EchoVC are currently in Lagos, Nigeria in search of investment opportunities.

On Tuesday, July 24, the luxurious Four Points By Sheraton Hotel in Victoria Island, Lagos played host to the first-ever investor-entrepreneur drinkup and networking session organised by TechCircle, a tech-focused events start-up.

Editor’s Note: Techloy’s new article series about Venture Capital is provided by Amoo Venture Capital Advisory, a firm that supports pre- and post-VC technology start-ups with advisory services and fund raising in OECD and Emerging Markets.

So you want to be the next Jason Njoku after having drinks with VCs and possibly get a $10 million cheque?