According to Disrupt Africa, the self-declared one-stop-shop for all news relating to tech startups across the African continent, in 2015, African tech startups raised funding exceeding $185.7 million.
These findings have been compiled in a report dubbed Disrupt Africa African Tech Startups Funding Report 2015. This report goes further to say that 125 tech startups in Africa were able to raise funding to the tune of $185,785,500 in 2015.
The most active countries in the tech space where the lion’s share of these funding seems to be going to are South Africa, Nigeria, and Kenya. Most investors appear to have favored these three African nations more than the others over the year 2015. South African tech startups received 36 percent of the total funding, with Nigeria and Kenya receiving 24 and 14.4 percent of the total funds.
The three biggest funding also went to the said three countries; South Africa’s tech startups received $54,568,000 in the year 2015 while Nigerian and Kenyan tech startups got $49,404,000 and $47,365,000 respectively.
Of the top 10 investments sectors tallied on this report, the solar energy sectors got the lion’s share of the investment garnering 32.9 percent of the total funding. Coming in as the second best-funded sector is the fintech sector with 29.6 percent of the investment.
Gabriella Mulligan, a co-founder of Disrupt Africa said in a press statement, “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 investors’ 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.”
Her co-founder Tom Jackson added: “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. There will have been many funding rounds across the continent that have taken place quietly. But in terms of demonstrating the development of the ecosystem, these figures are an excellent starting point. We expect to see further growth in 2016.”
Other African countries that showed remarkable tech startups development that elicited a lot of interest from investors include Egypt, Ghana and Tanzania.