Meet 10 Elite startups from Africa in a city near you!
Africa is home to the world's fastest growing cities, and more than half of the world’s population growth will take place on the continent over the coming decades. By 2050, cities like Lagos and Kinshasa will be global megacities, each holding well over 30 million inhabitants.
Africa is also at the start of a technological renaissance. It was recently reported by WeAreSocial that 7 out of 10 of the world’s fastest growing internet populations are in Africa – the beginning of a trend that will likely reshape entire economies as new companies leapfrog established technology, ideas, and infrastructure.
While the core of Africa's reputation for tech innovation is unique software solutions/applications, the continent is also home to many startups creating state-of-the-art hardware solutions for African and global markets. Furthermore, there has been a sturdy rise in the deep-tech ecosphere in many sub-saharan African countries which were seen as back-benchers in technological innovation. Last year, Google set up its AI lab in Ghana and Facebook kicked off a Deep Tech focused accelerator in Nigeria.
Investors across the globe are taking notice as well. The total startup funding received for African startups increased almost four fold in 2018, according to Quartz Africa. The number of funding deals has more than doubled, and the continent's startups are increasingly receiving over $5 million in big ticket rounds. African startups have raised a record $725.6 million over 458 deals in total, according to the 2018 investment report by WeeTracker.