Tech company SHYFT Power Solutions raises US$3.1m to expand its offering

NIGERIA – SHYFT Power Solutions, an IoT and software developer, has announced an additional US$3.1 million in funding to bring its total seed round to US$3.8 million. The funding round was led by the SoftBank Vision Fund’s Emerge Program and Total Carbon Neutrality Ventures with participation from other investors including Lofty Inc, Samurai Ventures, and Urban US Ventures. SHYFT plans to use this new funding round to double its team in West Africa over the next year with a focus on developing AI capabilities to use its data and algorithms…

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