African tech startups registered in excess of US$185.7 million in funding in 2015

Joanitah Nalubega February 22, 2016

1 minute read

125 tech startups raised funding in 2015 around the African continent, to the tune of USD185,785,500. Image Credit: InfoBoxDaily

2015 was an exciting year for African Tech startups. A significant number of investors, international and domestic, institutional and individual saw to the continent’s tech start-up ecosystem rise steadily. According to the DISRUPT AFRICA AFRICAN TECH STARTUPS FUNDING REPORT 2015, launched today, 125 tech startups raised funding in 2015 around the African continent, to the tune of USD 185,785,500 (636,315,337,500 UGX).

2015 saw many contests and challenges sprout out of the venture capital industry & invitations for many African countries to take part. However, South Africa, Nigeria, and Kenya took the Lion’s share; with 36 per cent of the startups that raised funding based in South Africa, 24 per cent in Nigeria, and Kenya in third place with 14.4 per cent of deals.

The DEMO Africa technology fair at the Kenyatta International Conference Center in Nairobi, Kenya - October 25, 2012. Image Credit: BlouinNews — The DEMO Africa technology fair at the Kenyatta International Conference Center in Nairobi, Kenya – October 25, 2012. Image Credit: BlouinNews

The report covers information on funding activity in the leading three countries, as well as for other key locations including Egypt, Ghana, and Tanzania, figures on the number of deals per location, and average deal sizes, as well as highlights of key deals across continent and Sector-specific breakdowns across 10 sectors. Of the 10 sectors monitored in the report, the solar sector saw the most investor activity, accounting for 32.9 per cent of total funds raised.

“These are impressive numbers, showing real growth in the amount of funding available to African tech startups, but in reality they are merely the tip of the iceberg,” said Tom Jackson, co-founder of Disrupt Africa. “There will have been many funding rounds across the continent that has taken place quietly. We expect to see further growth in 2016.”

The full report is available for purchase here.