Photo by Solen Feyissa on Unsplash
Sawatdee,
Victoria from Techpoint,
Here’s what I’ve got for you today:
- OpenAI wants you to shop directly via ChatGPT
- 3 startups defending Nigeria
- OmniRetail bags $20M Series A for expansion
OpenAI wants you to shop directly via ChatGPT
Remember how last week I told you OpenAI was reportedly eyeing Chrome? Well, they’ve just dropped another bomb: you’ll soon be able to shop directly through ChatGPT. Yeah, shopping buttons are coming, and whether you’re signed in or not, you’ll be able to search for stuff and find purchasing options. You won’t actually check out inside ChatGPT, though; it’ll just redirect you to the merchant’s site to complete the purchase.
In a sneak peek for WIRED, OpenAI showed off how this will work. Say you’re hunting for the best pair of shoes or a rechargeable fan; ChatGPT will pull up product suggestions based on your preferences and real reviews from across the web. So, it’s not just tossing random links at you, it’s using a mix of memory and solid research to help you decide.
Apparently, people are already running over a billion searches a week on ChatGPT, and a tonne of them are shopping-related; think beauty products, home goods, electronics, and more. It’s sort of like Google Shopping, but OpenAI swears there’s one big difference: no ads. The results you see are organic, not paid placements. “They are not ads,” Adam Fry, the ChatGPT search product lead, made sure to emphasise.
Instead of relying on secretive algorithms like Google does, ChatGPT will try to give you more personalised, conversational shopping help. So if you once mentioned you love black clothes from a particular brand, it’ll remember and tailor future recommendations around that. No need for keyword stuffing, it’s all about understanding what people say about products.
Of course, there’s a lot of buzz (and questions) about how affiliate links and revenue will work. With ChatGPT recommending stuff, where does the money trail lead? OpenAI says they’re still experimenting for now, they’re focused on making the shopping experience as helpful and high-quality as possible.This move feels like a natural step for OpenAI, especially since they’ve been experimenting with AI agents like Operator, which can browse the web and even help you buy groceries. Plus, their rival Perplexity already lets you shop inside its app. Between this and the “Researched with AI” section, Google added, it’s clear the AI shopping wars are just heating up, and OpenAI wants a big piece of the action.
3 startups defending Nigeria
When you think about Nigerian tech startups, your mind probably jumps straight to fintech, eCommerce, or maybe logistics. Defence tech? Yeah, not exactly top of mind. It’s not mainstream, and for most tech enthusiasts or founders, it’s not even on the radar.
But in a country dealing with everything from terrorism and banditry to oil theft and cybercrime, a few bold startups are quietly stepping up. They’re building tools to support national and private security efforts, whether it’s military-grade drones, AI-powered surveillance systems, or secure communication platforms. Defence tech in Nigeria is real, even if it’s still flying under the radar.
So, why don’t we see more defence tech startups in Nigeria? The answer’s pretty straightforward. Building this kind of company, especially one focused on hardware and deep tech, needs crazy amounts of funding and expertise — two things that are pretty hard to come by in an economy like Nigeria’s. Unlike software startups that can pivot and grow quickly, defence tech takes years of iteration, testing, and serious talent.
Even the Nigerian military struggles with it. At a public lecture in 2023, Lucky Irabor, the former Chief of Defence Staff, admitted that Nigeria simply can’t produce its military equipment yet, all thanks to poor investment in research and development and a weak engineering base. Throw in bad infrastructure, unstable electricity, and tough regulations, and you can see why defence tech startups have it especially rough.
Still, despite the odds, some startups are pushing through, innovating, and creating products that could one day make Nigeria a name to reckon with in defence tech. Check out Bolu’s latest piece for Techpoint Africa to meet the startups making it happen.
OmniRetail bags $20M Series A for expansion
Nigerian B2B eCommerce startup OmniRetail just bagged $20 million in a Series A round to grow its operations across Nigeria, Ghana, and Ivory Coast. The funding was co-led by Norfund and Timon Capital, with Ventures Platform, Aruwa Capital, Goodwell Investments, and Flour Mills of Nigeria also throwing in some cash.
Founded by Deepankar Rustagi in 2019, OmniRetail runs a platform that helps manufacturers and distributors digitise order management for over 150,000 informal retailers across 12 cities. Retailers use the app to order inventory, access loans, and make digital payments all in one place.
This new funding round brings OmniRetail’s total raise to $38 million in equity and debt. The company says it will use the money to deepen its footprint in current markets and explore fresh opportunities across West Africa.
OmniRetail is also beefing up its embedded finance offerings and scaling its logistics network, which already boasts over 1,100 vehicles and 85 local logistics partners. Safe to say, they’re serious about making it easier for small retailers to restock and run their businesses.
Of course, the competition is heating up. OmniRetail is going head-to-head with big players like TradeDepot, which raised $110 million in 2021, and Wasoko, which secured $125 million in 2022. Wasoko also recently merged with Egyptian B2B player MaxAB to tighten its grip on the market.
With a stronger tech stack and logistics backbone, OmniRetail hopes to carve out a bigger slice of the fast-growing African B2B e-commerce space. It’s all about helping informal retailers thrive with better access to goods, finance, and digital tools.
In case you missed it
- Aruwa Capital raises $35M to back high growth businesses in Ghana and Nigeria
What I’m watching
- Trust Your Gut: How to Make a Hard Decision
- If You’re Ambitious but Lazy… Watch This
Opportunities
- Want to exhibit or attend the Lagos Startup Expo in June? Visit this website here.
- Flutterwave is hiring a crypto sales lead in Nigeria. Apply here.
- Baobabplus is looking for a fullstack developer. Apply here.
- PalmPay is recruiting a Senior Legal Officer (Commercial Contract). Apply here.
- Moove is looking for People Data and Operations Specialist. Apply here.
- Building a startup can feel isolating, but with Equity Merchants CommunityConnect, you can network with fellow founders, experts, and investors, gaining valuable insights and exclusive resources to help you grow your business. Click here to join.
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- To pitch your startup or product to a live audience, check out this link.
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- Flutterwave is hiring to fill in several positions. Apply here.
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- Follow Techpoint Africa’s WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa.
