TechCrunch

MARCH 30, 2022

In 2019, startups based in Nigeria attracted $747 million, or 37% of Africa’s total VC investment. YC W22 batch nets 24 African startups, including 18 from Nigeria. Apart from revenue thresholds, the accelerator shared another interesting statistic concerning Nigeria. Y Combinator is paying attention.

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TechCrunch

NOVEMBER 14, 2021

Chibuzo Opara and Adham Yehia, being all too familiar with the problems of poor pharmaceutical supply chains, are planning to widen the reach of DrugStoc, a e-health drug procurement platform that eliminates these challenges by linking drug companies with institutions such as hospitals and pharmacies, in Nigeria. million series A funding.

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TechCrunch

JULY 26, 2021

Olumide Soyombo is one of the well-known active angel investors in Nigeria tech startups and Africa at large. Voltron will be deploying capital to roughly 30 startups, mostly in pre-seed and seed-stage across Africa, in a bid to “address the severe lack of access to early-stage funding for African tech companies.”

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TechCrunch

FEBRUARY 14, 2022

Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa. Part of the new funding will be used to extend the startup’s buy now, pay later (BNPL) offering, for an even wider reach.

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TechCrunch

APRIL 5, 2022

The number of POS terminals in Nigeria grew from 150,000 in 2017 to 543,000 in April 2021, according to Statista. In Nigeria, POS terminals are used to process card payments at retail locations as well as for agency banking purposes, a branchless banking system where agents act like human ATMs.

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Fast Company Tech

MARCH 18, 2025

purchased and rehabbed an abandoned railway station and 18-story tower, restoring a decrepit shell to its original Art Deco sheen , while an unused book depository reopened as a startup hub, Newlab , which attracted more than 100 startups and over $700 million in funding in just over a year after its 2023 opening. Ford Motor Co.

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TechCrunch

JULY 6, 2021

However , some venture firms have taken this up a notch by bringing founders to create a fund and invest together. Since the firm’s first fund launched in 2017, MAGIC has invested in 70 companies at pre-seed and seed stages across these emerging markets. MAGIC Fund has 12 founders who act as general partners.

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TechCrunch

DECEMBER 19, 2021

Nigerian mobility tech startup Metro Africa Xpress Inc. ( MAX ) is planning to enter more markets across Africa as it races towards formalizing the continent’s transportation sector after securing $31 million in Series B funding.

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TechCrunch

FEBRUARY 9, 2022

Nigeria has more than 12 million registered vehicles , and approximately 90% of them are used cars that need frequent checkups to prevent recurring breakdowns. Given this number, one would expect effective vehicle maintenance to be standard in Nigeria. African tech took center stage in 2021. million seed round. .

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TechCrunch

AUGUST 6, 2021

This past decade, Nigeria has seen several companies cater to the development and growth of software engineers and tech talent in general. So when Chika Nwobi started Decagon in 2018, the perception was generally “here comes another tech talent accelerator.” What is Andela, the Africa tech talent accelerator?

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TechCrunch

MAY 4, 2022

His experience from this activity, coupled with working as a technical adviser to the vice president’s office in Nigeria a couple of months back, led him to launch Norebase , a trade tech startup that has raised $1 million in a pre-seed round. The service, which is only available for incorporating businesses in Nigeria, the U.S.

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TechCrunch

AUGUST 20, 2021

The process of digitizing the operations of mom and pop stores in Nigeria is serious business right now. Today’s news is from Alerzo , a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. Alerzo owns and operates its full-stack tech-driven supply chain and logistics to process these orders.

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TechCrunch

JANUARY 25, 2021

Microtraction , an early-stage venture capital firm based in Lagos, Nigeria, saw funding nearly quadruple for its portfolio. In a review of the year published last week, the firm noted that 21 companies in its portfolio have raised more than $33 million in funding. But it’s completely different in Africa.

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TechCrunch

MARCH 10, 2021

Savannah Fund , a pan-African venture capital firm, today announced a $25 million fund as it looks to back more early-stage startups on the continent. Since launching in 2012, Savannah Fund — led by Mbwana Alliy and Paul Bragiel — has backed more than 30 startups. Mbwana Ally (Managing Partner, Savannah Fund).

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TechCrunch

DECEMBER 12, 2022

million in “expansion” funding from Aruwa Capital, a Nigeria-based early-stage growth equity and gender-lens fund. . The initial product brought in $165,000 in seed funding from investors such as CcHUB Growth Capital, Montane Capital and B-Knight. When Dada launched the platform, its target audience was solely businesses.

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TechCrunch

JULY 20, 2021

“I survived a 21-day coma in Nigeria 15 years ago. Despite the company’s innovation, funding has been few and far between, as with many deep tech platforms with a significant focus on Africa. Alonge sees RxAll as a pioneer in the world of deep tech mixed with health tech. A part of the RxAll team.

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TechCrunch

APRIL 21, 2021

The last five years have seen a plethora of fintech applications in Nigeria (and Africa, in general) grow at an astonishing rate. Today, Nigeria’s Okra , arguably the first to gain mainstream attention, is announcing that it has closed a seed round of $3.5 Nigeria is becoming Africa’s unofficial tech capital.

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TechCrunch

FEBRUARY 7, 2022

Kuti’s comments highlight critical issues with healthcare in Nigeria: accessibility and affordability. In Nigeria and some emerging markets, it’s common for people to take healthcare for granted. In 2015, the three co-founders launched Kangpe, a telemedicine-focused startup in Nigeria with a “doctor in your pocket” slogan.

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TechCrunch

MARCH 22, 2021

to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. Pioneer gives founders access to funding streams and talent hardly found outside Silicon Valley. Nigeria is becoming Africa’s unofficial tech capital. The platform charges $0.50

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TechCrunch

JANUARY 9, 2023

million grant) seed raise in September 2021, said the funding will support the launch of two new technologies: Kraken II and SITE. . It’s different for Releaf, which operates upstream and has less competition, at least when the application of tech is considered. million in an oversubscribed pre-Series A round. million (including a $1.5

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TechCrunch

NOVEMBER 25, 2021

One-year-old Sabi — a spinoff from Rensource , an African energy company that offers power-as-a-service to customers — is the latest startup to raise funds to serve the informal sector. We’re not trying to be, you know, a tech-enabled digital distributor.

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TechCrunch

FEBRUARY 1, 2022

Andela has been pivotal to placing the continent’s tech talent globally. AltSchool, which is now Altitude Learning) has raised $1 million in pre-seed funding to scale its efforts, said chief executive Adewale Yusuf to TechCrunch. Nigeria has a population of almost 200 million, with 60% under the age of 25.

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TechCrunch

JANUARY 22, 2021

million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria. . Last year, African VCs who usually fund seed and Series A rounds began partaking in pre-seed rounds, and they don’t seem to be slowing down. Nigeria’s Kuda raises $10M to be the mobile-first challenger bank for Africa.

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TechCrunch

OCTOBER 18, 2022

After launching its inaugural school of engineering earlier this year and raising pre-seed funding, Nigeria’s AltSchool has expanded its catalog to include data and product schools, responding to the growing demand for these technical skills by youth and employers. The demand for technical talent is at an all-time high.

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TechCrunch

FEBRUARY 11, 2021

To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the continent in 2019, according to Africa-focused fund Partech Africa. Investments did pick up, and from July, VC funding on the continent had a bullish run until December. billion and $1.8

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TechCrunch

MARCH 9, 2021

hedge fund and investment firm Tiger Global led the Series C round. In total, Flutterwave has raised $225 million and is one of the few African startups to have secured more than $200 million in funding. . The company says it plans to use the funds to speed up customer acquisition in its present markets.

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TechCrunch

JUNE 22, 2022

Salient surveyed over 80 companies across Ghana, Kenya, Nigeria, and Uganda, 25% more than the number it tracked in its last report in 2021. The report says 36% of all-time funding reported by the health supply chain startups it profiled was raised in the last 12 months. And of course, funding in health tech is generally low.

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TechCrunch

MARCH 7, 2022

So, u sers from different countries — Ghana, Nigeria and Kenya, for now — can connect their bank or mobile money accounts to Dash, pay bills, and send and receive money to other users while the platform handles currency conversions. African tech took center stage in 2021.

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TechCrunch

MARCH 18, 2021

Today, one of the trailblazers in this area, Kuda Technologies , is announcing funding to continue building out its specific ambition: to provide a modern banking service for Africans and the African diaspora, or as co-founder and CEO Babs Ogundeyi describes them, “every African on the planet, wherever you are in the world.”

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TechCrunch

OCTOBER 14, 2022

Opeyemi Awoyemi , one of Nigeria’s well-known serial founders, is back with another outfit. Awoyemi choosing this route is quite interesting, especially as many African founders either launch syndicates or venture capital funds post- or during their entrepreneurial journies. And Buzzline, a mobile OS for solo entrepreneurs.

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TechCrunch

FEBRUARY 14, 2023

In the latest development, Curacel , a Nigeria-based platform that aims to drive insurance penetration in emerging markets via APIs enabling insurers to connect with digital distribution channels and administer their claims, has raised $3 million in seed funding. So far, its tech caters to distribution and claims automation.

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TechCrunch

AUGUST 16, 2022

This undisclosed investment is Google’s third from the $50 million Africa Investment Fund targeted at the continent’s early- and growth-stage startups, which the company CEO Sundar Pichai announced last October. The fund is part of Google’s plan to invest $1 billion in “tech-led initiatives” over the next five years.

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TechCrunch

MARCH 1, 2022

Previous backers such as the CDC Group and LGT Lightrock took part in this round alongside LocalGlobe’s Latitude Fund and HEPCO Capital Management. Six years ago, it was heavily focused on East Africa, but having pulled out of Tanzania, M-KOPA is present in Kenya, Uganda, Nigeria and Ghana.

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TechCrunch

JANUARY 26, 2021

There are many stats to back up the underrepresentation of women in starting a company, raising money and general involvement in technology where the global tech workforce comprises 28.8% FirstCheck Africa , a female-focused angel fund that launched yesterday, is hoping to address this challenge.

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TechCrunch

FEBRUARY 8, 2022

Then, the disparities between venture funding studies were stunningly clear. . Partech Africa covers equity deals in tech and digital spaces and funding rounds higher than $200,000. African tech took center stage in 2021. billion in total estimated funding — $4.65 billion to $1.5 That number doubled to 62%.

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TechCrunch

JANUARY 5, 2022

Ghanaian health tech startup mPharma is building a network of community pharmacies across Africa as it plans to be the go-to primary healthcare service provider for millions of people residing in the region. mPharma plans to grow its community ( Mutti ) pharmacies across eight markets in Africa to be the first point of care for patients.

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TechCrunch

DECEMBER 1, 2022

Backed by a $1 million seed funding, Uncover is scaling its operations in Kenya and expanding to Nigeria in January. The new funding brings the total amount raised by Uncover, since launch in 2020, to $1.225 million. Uncover is scaling its operations in Kenya and expanding to Nigeria in January.

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