Tech Investment: African startups raised over $185.7 million funding in 2015

Favored destinations for investors include South Africa, Nigeria, and Kenya; with 36 percent of the startups that raised funding based in South Africa

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Africa is fast becoming the new destination for tech investors play

Africa is fast becoming the new destination for tech investors

(asokoinsights)
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According to data compiled by Disrupt Africa, African tech startups received a total of $185.7 million in funding in 2015 alone.

The DISRUPT AFRICA AFRICAN TECH STARTUPS FUNDING REPORT 2015 reveals that 125 tech startups raised funding in 2015 around the African continent, to the tune of $185,785,500.

Favored destinations for investors include South Africa, Nigeria, and Kenya; with 36 percent of the startups that raised funding based in South Africa, 24 percent in Nigeria, and Kenya in third place with 14.4 percent of deals.

The top three highest amounts of funding also went to these three companies. South Arican startups raised about $54 million throughout the year; Nigerian startups received over $49 million; and Kenyan startups brought home over $47 million.

READ: Incubator, BoI, others launch N1 billion fund to support next gen entrepreneurs

“2015 was an exciting year for African tech startups. Our data shows the increasing vibrancy of our ecosystem, with more quality tech startups, and more investor activity than ever before. We’re very pleased to make our data available in the Disrupt Africa African Tech Startups Funding Report 2015, and trust it will contribute to understanding and growing the ecosystem,” said Gabriella Mulligan, co-founder of Disrupt Africa, according to a report by Asoko Insights.

The report also identifies Egypt, Ghana, and Tanzania as key locations for funding activity, as well as providing detailed information for each country.

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