India’s Prime Minister Narenda Modi’s digital economy dream is getting a big boost with the kickoff of JioPhone Next. Google and top Indian telecom network Jio Platforms said on Friday that the much-anticipated budget smartphone will be unveiled on November 4.

The affordable smartphone initiative is expected to fill the underserved gap in India, putting internet-enabled phones on the hands of many.

The November 4 launch coincides with the big Indian festival of Diwali. Google and Jio said the JioPhone Next will cost 6,499 Indian rupees ($87), and can also be purchased in multiple instalments with an entry price as low as $27.

“Among the many rich features of JioPhone Next, the one that has impressed me the most — and one that will empower common Indians the most and take their digital journeys to the next level — is its contribution to India’s linguistic integration. India’s unique strength is our linguistic diversity. Those Indians who might not be able to read content in English or in their language can get it translated, and even read out, in their own language on this smart device,” said Mukesh Ambani, chairman and managing director of Reliance Industries, which operates Jio Platforms.

Per TechCrunch, the smartphone runs Pragati OS, which is powered by an “extremely optimized” Android mobile operating system with a range of customized features such as Read Aloud and Translate Now that will work with any text on the phone screen, including web pages, apps, messages and even photos, as well as support for 10 Indian languages.

The inclusion of local languages is to eliminate the language barrier that may hinder many Indians from making full use of the internet. With most Indians preferring their local languages, Google and Jio had widened the smartphone’s language option.

Other features of the JioPhone Next include a 5.45-inch HD+ display with Corning Gorilla Glass 3 protection. The dual-SIM phone is powered by Qualcomm’s quad-core QM-215 chipset that clocks up to 1.3GHz, coupled with 2GB of RAM and 32GB internal storage, which is expandable. It also comes with a 3,500 mAh battery, features a 13-megapixel rear camera with support for HDR and an 8-megapixel selfie sensor.

Reliance had earlier in the year struck a spectrum deal with Bharti Airtel. A move believed will facilitate cheap data services from Bharti Airtel among others. Google’s CEO Sundar Pichai Pichai grew up without much access to technology, but witnessed the impact it could make on people’s lives. He thus believes that providing affordable smartphones for India’s underserved will make the difference.

“The JioPhone Next is an affordable smartphone designed for India, inspired by the belief that everyone in India should benefit from the opportunities the internet creates. To build it, our teams had to work together to solve complex engineering and design challenges, and I’m excited to see how millions of people will use these devices to better their lives and communities,” he said in a statement Friday.

Ambani said at an event earlier this year that the JioPhone Next is aimed at helping roughly 300 million users in India who are still on a 2G network upgrade their gadget to access faster networks.

“I am delighted that Google and Jio teams have succeeded in bringing this breakthrough device to Indian consumers in time for the festival season, inspite of the current global supply chain challenges caused by the Covid pandemic. I have always been a firm believer in the power of the Digital Revolution to enrich, enable and empower the lives of 1.35 billion Indians. We have done it in the past with connectivity. Now we are enabling it again with a smartphone device,” he said in a statement Friday.

However, the unveiling of the JioPhone Next will mean that India’s smartphone market, the second largest in the world, will never be the same. Analysts have said in recent months that the JioPhone Next could disrupt the Indian smartphone market and help Reliance Jio’s telecom network, to further solidify its dominance in the country.

Autochek, a Nigerian automotive technology startup, facilitating auto financing across Africa, has secured $13.1 million in seed funding. The new funding comes a month less a year after its $3.4 million pre-seed round, putting the total fund raised by the startup at $16.5 million.

The round was led by TLcom Capital and 4DX Ventures, with the participation from existing investors, Golden Palm Investments, Enza Capital, Lateral Capital as well as new participants, ASK Capital and Mobility 54 Investment SAS (the venture capital arm of Toyota Tsusho Corporation /CFAO Group).

Autocheck helps users to buy, sell and maintain their cars using their mobile app. As part of the company’s growth strategy, the newly raised fund will be used to expand its core auto loan processing platform and deepen its footprint in West Africa. The company has recently made an entry into Cote d’Ivoire, but hopes to expand its footprint across East Africa, following its recent acquisition of Cheki Kenya and Cheki Uganda, East Africa’s leading online auto marketplace. As part of the investment by Mobility54, Autochek will be leveraging Toyota Tsusho’s vast retail network across 54 African countries to further deepen its expansion.

Founded in October 2020 and operational across East and West Africa in 5 countries – Nigeria, Kenya, Ghana, Uganda and Cote d’Ivoire; Autochek says it combines technology, underpinned by data analytics to deepen auto finance penetration across the continent. The company added that it has recorded rapid growth in just one year, having the number of processed loan applications rose from 10 to 46,000.

The success has been powered by its residual value algorithm, which enables in-house digital solutions such as Collateral Management, Dealer Management Systems and a proprietary CRM system for managing stakeholder operations within the ecosystem such as vehicle financing, inspection, valuation, and inventory management.

Autochek’s success has attracted partnership with 70 banks across the continent, including leading regional players such as Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank. Currently, the company says it has over 1000 dealers on the Autochek network actively using the loan processing solution, and over 15,000 certified and financeable vehicles on the Autochek marketplace across its markets.

Speaking on the next phase of Autochek’s rapid growth following its fundraise, Etop Ikpe, Founder and CEO of Autochek, said the support of banking partners has helped the company in tackling the challenges it has encountered along the way.

“We are extremely delighted with the progress we’ve made in a short amount of time. With this funding and the support of our strategic investors, the entire team at Autochek are dedicated to delivering exceptional service for customers and partners, as well as deploying our technology across Africa,” he said.

Andreata Muforo, Partner at TLcom, says “Autochek has achieved significant traction in one of Africa’s key verticals and is making impressive progress in bringing transparency and efficiency in this complex and fragmented industry. The foundation of its growth has been the strong leadership of its CEO, Etop Ikpe, a repeat founder in the automotive market whose world-class experience gave us the confidence to initially invest in Autochek in 2020. We look forward to the next chapter of Autochek’s growth as it continues to unlock the major upside which has remained dormant in Africa’s automotive sector for decades.”

Despite being a $45bn industry, Africa’s used car market only has a 5% financing penetration rate, marking a major contrast to the rates of 98% and 99% in Europe and the USA respectively. Due to a lack of transparency from the automotive sector, there is no way for lenders to understand the present and residual value of vehicles, creating a significant reluctance to issue loans. However, with Autochek’s established links with car dealerships and 150-point inspection and valuation reports, the company can access vital information on the quality and condition of a range of vehicles, providing lenders with the much-needed trust and transparency to make informed decisions. Based on its algorithms, Autochek is also able to develop a credit profile on behalf of customers and effectively reduce a loan application process from 40-45 days to 48 hours.

Walter Baddoo, Managing Partner at 4DX Ventures, says Autocheck is poised to build on its existing success to change Africa’s auto industry for good.

“Autochek is revolutionizing the auto industry in Africa by offering the convenience and selection advantage of an auto e-commerce platform together with the added flexibility of financing. We have enjoyed working with the team so far, and they have demonstrated the talent, ambition, and domain expertise needed to build a complete end-to-end car ownership experience for customers. We are excited to partner with the team as they pursue the next phase of their growth,” he said.