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Showing posts from February 18, 2018

Record-breaking $560m for African tech startups in 2017, says report

9 (CNN) — African tech startups have had a bit of a moment in the past few years. The continent's major urban centers -- like Nairobi, Lagos and Johannesburg -- have been abuzz with incubation hubs, tech entrepreneurs and developers creating, what they hope will be, the next big app. The tech giants of Silicon Valley have taken notice. In 2016, Facebook founder Mark Zuckerberg announced $24 million investment in Andela, a company that trains developers in Africa. Facebook is also opening a community tech hub in Lagos this year. According to new research from Partech Ventures, investment is flowing too. <!– adsense –> Related Article: A post-Brexit pivot to Africa? UK moves to increase trade with Nigeria Their research found that $560 million in venture capital funding was invested in African startups. That's an increase of 53% from $366,8 million in 2016. The total amount was achieved by 124 startups through 128 rounds of funding. African entr