Data About Africa's Tech Companies

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16 of Africa's most high profile startup failures of the past 10 years
No one starts something expecting to fail. Yet, when it comes to startups, that is what everyone should anticipate. Studies have shown that at least 90% of all startups fail [PDF] that is why ‘fail fast, fail often’ or 'fail fast, fail cheap' is...
This is how Africa's 10 biggest VC funding rounds of 2019 (so far) compare to 2018
Going by the first half of 2019, African startups are raising VC funding at an unprecedented rate. Unlike in the past where large venture capital funding rounds into the continent depended on a few companies - take an example of Jumia and Takealot - ...
Egyptian fintech startup XPay raises $250,000 in pre-seed funding round
Egyptian fintech company XPay has secured $250,000 in pre-seed funding from two angel investors. This comes on the heels of an initial investment into the startup made by the country’s first fintech-focused investment company, EFG EV Fintech. XP...
Jumia Technologies now faces class action lawsuits after securities fraud allegations
Jumia Technologies AG rode a particularly smooth crest in the first quarter of 2019. The company became the first African company to successfully go public on the New York Stock Exchange. Its share price rose by 70 percent and its quarterly earnings ...
MTN lists on Nigeria Stock Exchange, becomes second most valuable company
The Nigerian arm of African mobile telecommunications behemoth MTN Group Limited today listed its business on the Nigeria Stock Exchange. MTN Nigeria Communications Plc. went live at 2:14 pm local time, allowing trading for only 16 minutes before the...
The Fashion Incubator is fitting fashion entrepreneurs in Egypt for a life in the garment industry
The Fashion Incubator Middle East is taking it upon itself to offer entrepreneurial and sartorial advice to startups in the textile and clothing industry in Egypt. There is a high rate of failure when one ventures into the unknown that is the star...
Rwanda-based startup ARED sets up shop in Uganda with backing from Gray Matters Capital coLABS
ARED, the Rwanda based Platform as a Service start-up known for its ‘Smart Business in a Box' solar-powered kiosks, recently announced that it had set up 10 such kiosks with 10 women micro franchisees; thereby marking its expansion into its first i...
Early Stage Startup Investment Conference yields an angels network and a social impact fund
In the second week of April 2019, the Early Stage Startups Investment Conference (ESSIC) came to a close in Cotonou, Benin. The conference brought together in excess of 120 participants representing the Benin government, NGOs as well as bilateral and...
African e-commerce giant Jumia releases post-IPO results amid securities fraud allegations
After going public on the New York Stock Exchange last month (April 2019), African e-commerce giant Jumia (JMIA) has released the results of its financial performance for Q1 2019. However, this news comes against a murky backdrop of allegations by...
In Brief: Chipper Cash co-founded by Uganda's Ham Serunjogi closes $2.4M Seed round
The African no-fee, cross-border payment startup Chipper Cash has raised a $2.4 million seed round led by Deciens Capital. The payments company also persuaded 500 Startups and Liquid 2 Ventures—co-founded by Joe Montana—to join the round. Chip...
InstaDeep raises $7M Series A led by AfricInvest
London headquartered InstaDeep, an Enterprise AI startup, announced on May 3rd, 2019 that it had raised $7 million in Series A funding. The leading pan-African private equity firm, AfricInvest, led the investment, with participation from Endeavor Cat...
In Brief: Allianz X co-leads SafeBoda's Series B with GO-JEK
Allianz X, the digital investment unit of the Allianz Group, has announced an investment in SafeBoda, based in Kampala, Uganda. For the Series B investment, Allianz X is co-investing with Go-Ventures, a venture fund whose cornerstone investor is GO-...
Fatoumata's Janngo is Raising a $56M West Africa-Focused Startup Fund
According to a report from the National Venture Capital Association and PitchBook, VC funds in the U.S. raised $55.5 billion from investors throughout 2018. That is the most since the infamous dot com era. However, this surge in venture capital raise...
Kwik Delivery raises $230k Seed round, set to launch in Lagos this month
According to the 2018 Logistics and Supply Chain Industry report which was released in March 2019, the value of the logistics sub-sector of the economy currently stands at N250 billion (~ US $700 million). The report was presented by the Director Gen...
Global accelerator Antler launches in Nairobi, to invest in 16 startups every year ($100k in each)
In the past few years, there has been a growing list of global accelerators who also double as micro-VCs interested in either setting up across the African continent or admitting African startups. From Silicon Valley darlings like Y Combinator - whic...