{"id":4171,"date":"2022-11-10T20:25:18","date_gmt":"2022-11-10T20:25:18","guid":{"rendered":"https:\/\/gospeedhub.com\/?p=4171"},"modified":"2022-11-10T20:25:21","modified_gmt":"2022-11-10T20:25:21","slug":"tech-startups","status":"publish","type":"post","link":"https:\/\/gospeedhub.com\/blogs\/tech-startups\/","title":{"rendered":"Tech Startups Funding Drop By 54 Percent"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">CB Insights, a business analytics company, revealed that venture capital invested in African tech startups dropped from $1.2 billion to $367 million in a comparative analysis for the third quarter of September and the second quarter of June.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the increasing expansion in e-commerce, internet software, and FinTech, ItWeb Africa showed that the amount allotted to funding technology startups in Nigeria, South Africa, Kenya, Egypt, and other African countries fell by 54 percent, thereby resulting in a corresponding drop in value by 13 percent on a quarter-to-quarter basis at the end of September 2022.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The number of venture financing deals was reported to drop from 135 to 117, at a percentage drop of 13 when comparatively analyzed with data obtained in the same quarter in 2021, which recorded an increment of 140.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report identified Egypt, Nigeria, and South Africa as the top three African venture capital markets. The top investees in Nigeria TeamApt raised $50 million, while Scorefam and VendEase accumulated $25 million and $7 million, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">E-commerce companies Homzmart raised $23 million, Cartona raised $12 million, and one order accumulated $7 million invested in Egypt. South Africa\u2019s investees; iiDENTIFii ($15 million), SweepSouth ($11 million), and DataProphet ($10 million). Among other investors included Entrepreneurs Africa, Huobi Ventures, KuCoin, and LoftyInc.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A research reported that\u00a0<em>\u201cmore than half of $1 million deals in Africa since 2019 have had at least one Africa-based investors\u201d<\/em>. Depicting that Africa \u2013 based investors are more active in deals with startups, with Egypt accumulating the highest at 67 percent, followed by South Africa at 65 percent, then Nigeria and Kenya (least) with a percentage of 59 and 47.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Investors\u2019 interest in deals with high percent is natural so as to achieve a shorter payback time, but what would this hold for the tech world and businesses that thrive on technology, especially in locations where tech investment is low?\u00a0<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Join the conversation; follow us on\u00a0\u00a0<a href=\"https:\/\/www.facebook.com\/gospeedhub\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a>,\u00a0<a href=\"https:\/\/www.instagram.com\/gospeedhub\/\" target=\"_blank\" rel=\"noreferrer noopener\">Instagram<\/a>, and\u00a0<a href=\"https:\/\/twitter.com\/gospeedhub\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter<\/a>\u00a0at GoSpeedHub.<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Image Source &#8211; Starline<\/p>\n","protected":false},"excerpt":{"rendered":"CB Insights, a business analytics company, revealed that venture capital invested in African tech startups dropped from $1.2&hellip;\n","protected":false},"author":8,"featured_media":4174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_1331110278889566212_1331110278889566212":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[6,22],"tags":[89,495,1197,186,1198,480,82,97,1196],"class_list":["post-4171","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tech-news","category-the-future-of-tech","tag-5gtechnology","tag-africandevelopmentcenter","tag-loftyinc","tag-nigeria","tag-startups","tag-techcareer","tag-technews","tag-technology","tag-techstartups","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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