African tech startups raised just under US$186 million in funding over the course of 2015, with South African companies receiving in excess of US$54.5 million, making the country the most popular destination for investments over the course of the year.
Courtesy BBC News
This is according to the African Tech Startups Funding Report 2015, launched yesterday by tech startup ecosystem news site Disrupt Africa, which found 125 tech startups raised funding in 2015 around the African continent, to the tune of US$185.79 million.
South African startups claimed 29 per cent of that funding, with the 45 startups raising almost US$55 million in funding, making the country the most successful when it comes to funds for startup tech businesses. Standout rounds from the country included those of fintech startup WiGroup, microjobbing service M4JAM and e-commerce company Faithful to Nature.
Nigeria was not far behind in terms of funding, with startups from the West African country raising US$49.4 million, and with the average Nigerian startup in fact raising more than the average South African equivalent.
In third place, Kenyan startups brought home over US$47.3 million, while Egypt, Tanzania and Ghana also proved to be hotspots for funding activity. A host of other countries, including Rwanda, Uganda, Cameroon and Zambia, also saw local startups raise funding.