Startups in Africa raise Over $600M in April to bring total funding in 2022 to over $1,808,963,000

Startups in Africa raise Over $600M in April to bring total funding in 2022 to over $1,808,963,000

After the first four months of 2022, African startups and their tech ecosystem show no sign of slowing down. As of now, Africa’s tech space has secured over $1,808,963,000B in funding. In addition, Africa’s tech space hit the $600m mark for the third month running after raising $60066000 Million in April.

Given the funding pace among African tech startups, another record-breaking year becomes very realistic. So while we can applaud the focus international investors have shown in investing in Africa, the ability to attract international investors also becomes something to celebrate.

April proved to be a notable month for Africa’s tech space. It was characterized by NFT dramas which created increased interest in tech. However, what the space can glory in looking forward is the increase in tech-savvy youths and the attraction of local and international investors.

Notably, The Big Four – Nigeria, Egypt, South Africa, and Kenya still dominate. It has become a routine for an Egyptian startup to raise funds daily. We love this. The competitive space will unleash innovation that drives job creation and economic opportunities.

It’s a new month; we are ecstatic about the next big thing in Africa’s tech space, even expecting another record funding year. Here at The Ouut, we look forward to bringing you more information on what is going on in the African technology industry. You can subscribe to receive news the moment it drops by clicking here.

CIAO

 

Joel Nwankwo

Writer, TECHist and Data analyst.

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