| | October 2021 6EDITOR'S DESKIt is a bounteous season for African tech startups. The year 2021 has witnessed an exponential growth of startups on the continent that have raised a colossal amount of around $1.19 billion funding with deals worth approximately $1 million. This number has increased in two-folds than the previous year as per recognized research sources. Fintech still remains one of the VC favorites in Africa among all the sectors that have secured nearly half of the total funding for startups in the continent that is a rise of around 38 percent than the previous year. This has given the startups across Africa more access to capital than ever before. The big funding numbers leading to significant growth of startups is prospective for rescuing the population from the vulnerability of unemployment. Alongside there have been new reforms and policies introduced by the government that is accelerating the growth of startups. The current influx of capital from both local and international investors has also been a boon for the startups amidst the pandemic, much higher than anticipated. Among the African countries, Nigeria, Egypt, and Kenya have received some of the largest investment shares. Around March this year, Flutterwave, a unicorn startup in Nigeria, created a buzz in the market for a whopping $170 million Series C round and won the title of the most recent unicorn budding from Africa. Several other startups have joined the race in the continent, thereby redefining the overall African tech startups landscape.Despite the hassles brought in by the COVID-19, the startups in Africa sailed through the wave. In many sectors, they have witnessed proliferations during this pandemic and offered substantially to the community. As fundings ripple down in several market sectors more and more, industry experts forecast a big head start in the chapter of African startups in the coming years. On this note, Startup City's current edition brings to you some of the best-in-class African Tech startups to help companies gain insights on the current startup landscape in the continent and seek favorable partners.Let us know your thoughts!Whopping Fundings Driving the Budding Startup LandscapeKenneth Thomas Managing Editoreditor@startupcity.comCopyright © 2021 SiliconMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.October - 01 - 2021, Volume 5 - Issue 7 (ISSN 2644-2345)Published by SiliconMedia, Inc. To subscribe to Startup CityVisit www.startupcity.com Editorial StaffAaron Pierce Ava Garcia Mia WilliamsDanny RobinsonJoshua ParkerVian IsaacManaging EditorKenneth Thomas*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffSalesRich Gonsalvessales@startupcity.comVisualizersJohn GothamEmailsales@startupcity.comeditor@startupcity.commarketing@startupcity.com
< Page 5 | Page 7 >