Villgro Africa partnered with Disrupt Africa, Catalyst Fund, Quona Capital, Otundi Capital, Lateral Capital, 4Di Capital and RTB House to make the African Tech Startups Funding Report 2020 available to all for free.
The report found that startups from more African countries than ever before secured funding in a record-breaking 2020 that saw a combined US$701 million raised across the continent.
A total of 307 startups from South Africa, Kenya, Nigeria and Egypt raised funding in 2020, accounting for 77.3% of the 397 funded ventures. Together, they raised a combined US$625,659,000, accounting for 89.2% of the Pan-African tally.
For the second year running, Kenyan startups raised a record amount of funding in 2020, securing a combined total of US$191,381,000. Accounting for 27.3% of the continent’s total investment. This is the largest amount of funding ever achieved by a single country. It was, however, raised by relatively few ventures – with 59 Kenyan startups responsible for the investment total. Find the full report here.