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InfoShot: 2015 was a good year for African startups

While the likes of Silicon Valley may be awash with millions and knee-deep in Unicorns, there’s good things happening in the Silicon Savannah of Africa. According to a new report from Disrupt Africa, 125 African tech startups raised over $185 million in 2015.

The Disrupt Africa African Tech Startups Funding Report 2015 reports that South Africa lead the way, with startups based there raising just under $55 million. Nigerian and Kenyan startups raised $49 million and $47 million respectively. The report also said that Egypt, Ghana and Tanzania were “key hotspots for funding activity.”

“2015 was an exciting year for African tech startups,” said Gabriella Mulligan, co-founder of Disrupt Africa, in a statement. “Our data shows the increasing vibrancy of our ecosystem, with more quality tech startups, and more investor activity than ever before.”

Although it’s a small figure in comparison to US or European startups, $185 million represents a great improvement for African tech. The 2014 report showed African startups raised just $26.9 million, which itself was double the $12 million raised in 2013.

“These are impressive numbers, showing real growth in the amount of funding available to African tech startups,” said Tom Jackson, co-founder of Disrupt Africa. “We expect to see further growth in 2016.”

According to TechSahara, Kenya had a record year for funding, driven mainly by the $19 million received by M-Kopa Solar. Other startups to have raised funds recently include Tanzania’s Off Grid Electric, market intelligence startup Asoko, and Nigerian mobile payment company Paga, just to name a few.

25-02-16-2015-was-a-good-year-for-african-startups

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Dan Swinhoe

Dan is a journalist at CSO Online. Previously he was Senior Staff Writer at IDG Connect.

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