Here are the Top 5 Most Funded Sectors of 2020.

    Digest Africa 2020 Index
    Venture Capital

2020 was a year like no other; with a global pandemic, an outburst of protests and high levels of unemployment. That was on the global sector and does not rightly account for personal hurdles. Despite the setbacks 2020 presented, some sectors were able to push through with venture funding. 

According to Digest Africa data, these are the sectors that received the most in venture funding through 2020.

1.Financial Services

The companies in this sector saw over $253M raised in funding. Out of the 112 funding deals - with only 85 disclosed, Jumo walked away with the biggest funding of $55M, a series C funding from Goldman Sachs, Odey Asset Management and Leapfrog Investments.

Also read: Africa's 10 Most Funded Fintech Companies

2.Energy & Environment Resources

This sector received about $167.4M from the 48 deals (41 disclosed) made in the year. The biggest deal from this sector was the $90M Debt Financing to Greenlight Planet, a company dedicated to delivering safe and affordable energy products. Some of the investors include CDC Group, FMO, SIMA Fund and Norfund .

3.Healthcare & Pharma sector

With a total of 52 funding deals (39 disclosed), the healthcare sector raised about $96.7M. This is no surprise as the world grappled with health-related questions. Egyptian based Vezeeta made the most in funding and ended the year with over $40M raised in Series D funding. Most of its funding was received from Saudi Technology Ventures and Gulf Capital.

4.E-commerce & Retail

E-commerce based companies raised about $74.8M. One of the biggest funding deals, out of the 59 deals (only 40 disclosed) made in the year, was made by Elmenus. The company received $8M in Series B funding from investors like Global Ventures and Algebra Ventures.


This sector closes off the list at $73.3M from 34 funding deals, and only 30 disclosed. Komaza took home the biggest funding deal within this sector, $28M in Series B funding. Its investors included Novastar Ventures, AXA Investment Managers, FMO and others.

Also read: Most Funded Startups in AgriTech

Digest Africa


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