African tech startups smashed funding records in 2018 as 210 startups secured US$334.5 million worth of investment.
For the fourth consecutive year, Disrupt Africa is releasing data on the tech investment ecosystem across Africa, contained in the AFRICAN TECH STARTUPS FUNDING REPORT 2018.
The report shows Nigeria emerged as the premier investment destination on the continent in 2018; with 58 startups raising a total of US$94,912,000. South Africa fell behind with 40 businesses raising US$59,971,000; while Kenya ranked third in terms of the number of startups that raised.
The report also contains in-depth data on the investment landscape in Egypt, Ghana, and Uganda; as well as an overview of activity in 14 other countries.
Sector-specific research shows the fintech sector remained the most popular among investors, attracting 39.7 per cent of total funds raised on the continent. Other spaces, such as e-health, transport and logistics are garnering ever-more attention and funding.
Other information contained in the report includes:
- Detailed information on funding activity in six African countries;
- Figures on the number of deals per location, and average deal sizes;
- Data on growth in funds and deals over the past four years;
- Highlights of key deals across continent;
- Sector-specific breakdowns across 11 sectors;
- Tracking of acquisitions in 2018.
Disrupt Africa is also making available the full list of 210 funded tech startups from across Africa, detailing location, sector, when funding was secured and, where we are able to disclose, the approximate amount raised. Any funding amounts disclosed confidentially do not appear in the list.
NB. This version of the report includes an appendix containing the full list of 210 funded startups.
The report is available without the appendix here, at a cost of $300.