The year 2019 was a record-breaking one for African tech startups, with 311 companies securing US$491.6 million worth of investment.
For the fifth consecutive year, Disrupt Africa is releasing data on the tech investment ecosystem across Africa, contained in the "African Tech Startups Funding Report 2019".
The report details how Kenya and Nigeria emerged as the premier investment destinations on the continent in 2019, attracting US$149 million and US$122 million in funding respectively. Egypt continued its development into a major continental tech hub, with more startups from the North African country securing investment than anywhere else. South Africa’s growth slowed, according to the report, which also contains in-depth data on the investment landscapes in Ghana and Uganda, as well as an overview of activity in 13 other countries.
The number of investors in African tech startups jumped by 61 per cent to reach 261.
Sector-specific research shows the fintech sector remained the most popular among investors, though its share of total funding fell to 21.8 per cent as other sectors, notably logistics, transport, e-commerce, agri-tech and e-health, enjoyed bumper years.
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 five years;
- Highlights of key deals across continent;
- Sector-specific breakdowns across 13 sectors;
- Tracking of acquisitions in 2019.
Disrupt Africa is also making available the full list of 311 funded tech startups from across Africa, detailing location, sector, when funding was secured and, where we are able to disclose, the approximate amount raised and the investor(s). Any funding amounts disclosed confidentially do not appear in the list.
NB. This version of the report includes only the report, without the appendix containing the full list of 311 funded startups.
The report plus full list of funded startups is available here, at a cost of US$850.