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2015 a good year for African tech startup funding

2015 a good year for African tech startup funding.

Report claims nearly US$200 million in funding was received by African tech startups last year.

Disrupt Africa's African tech startups funding report 2015, released this week, reveals that 125 tech startups raised funding in 2015 across Africa to the tune of US$185,785,500. Sector-specific research contained in the report shows the solar sector received the most funding last year followed closely by the fintech space out of a total of ten sectors.

The report reveals that investors favoured South Africa, Nigeria, and Kenya, and the bulk of startups (36%) that raised funding were based in South Africa, 24% in Nigeria, and Kenya with 14.4% of deals. The three countries also attracted the highest amounts in terms of funding.

South African startups raised in excess of US$54,568,000 throughout the year; Nigerian startups received over US$49,404,000; and Kenyan startups brought home over US$47,365,000.

The report also found that Egypt, Ghana, and Tanzania are key hotspots for funding activity in addition to the detailed information it provides for each country, including deals per location, average deal sizes and the key deals.

Organisers of the report say that although the numbers compiled in the report are not exhaustive, they are nevertheless impressive as they indicate growth in the amount of funding available to African tech startups. They also expect to see further growth in 2016.

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