Tunisian Startups With 2022 Funding So Far

Tunisian Startups With 2022 Funding So Far

It’s no news that African tech startups secured the most funding in the year 2022 so far. The continent secured about US $4 billion in the third quarter of 2022, the significant amount is the highest the continent’s ecosystem has secured in the past 3 years.

Being home to thousands of startups, it is obvious that not all the startups across Africa were able to secure funding. The likes of Nigeria, Kenya, Egypt and South Africa, experienced an all-time high in funding, while some had slow or no feedback at all in funding.

Although Tunisia is not part of the Big Four funding locations in Africa, a few startups were able to secure a significant amount to push their initiatives within or outside their founding location.

InstaDeep

The Artificial Intelligence (AI) startup that provides AI tools and solutions to enterprises within and outside the Tunisian border was able to secure a Series B funding round of US $100 million at the beginning of the year. The round was led by CDIB and Alpha Intelligence Capital, while Google, Chimera Abu Dhabi, Synergie, Deutsche Bahn’s DB Digital Ventures and G42 were participating investors.

In the previous year, the startup secures a Series A funding round of US $ 7 million. The startup noted that the Series B funding round was going to be diverted into the growth of its team, its continental expansion and the development of other AI products for its market.

Wattnow

The Tunisian IoT smart energy management startup was able to raise its pre-Series A funding of US $ 1.3 Million in March. The startup was founded to give companies the power to manage their energy usage. This is done via plug-and-play soft and hardware solutions.

The pre-Series A round was led by a Norwegian climate impact fund, Katapult Climate, and 216 Capital an indigenous VC firm, while it had the participation of other investors such as Cross Boundary, Launch Africa Ventures, and Oman Technology Fund.

The energy startup had revealed that the funding would help its intentions to expand across borders, especially within the continent and up to the Middle East.

GoMyCode

In June, top Tunisian ed-tech startup GoMyCode was able to secure its Series A funding round. The round went up to the tune of US$8 million. The startup was founded with the purpose to train interested individuals in different digital skills, both online and offline, launching them into the world of digital technology.

In the latest reports, GoMyCode was established in 8 African countries and had onboarded more than a thousand students on its platform.

The Series A round was led by AfricInvest, via Cathay’s AfricInvest Innovation Fund (CAIF). It also had the contribution of previous investors, Wamda Capital and Proparco. As of the time the funding was raised, the startup revealed it would help its expansion project across Africa and the Middle East.

Paymee

In July 2022, Paymee, one of Tunisia’s sophisticated fintech startups secured an undisclosed amount of funding.  The online payment platform provides users with access to digital platforms that accept digital payment, thereby increasing merchants’ revenue access, and also granting buyers easy payment paths.

Although the amount secured was not disclosed, the startup revealed it was in Six-figures. The funds, as revealed by the startups will be used to propel its product design and develop its enterprise offering.

In as much as Tunisia is home to more than 40 startups, the number of startups that were able to secure funding in 2022 did their best. There are expectations to see more funding round from the North African country but till then let it be known that Tunisia had a share of the US $4 billion African startup cake.

Author

  • Anuoluwamipo. E. Idowu

    No ambiguous words here. Anuoluwamipo is a communication professional, with years of experience in the media. Her contents are educational and relatable. You are in for a fun ride with her.

Anuoluwamipo. E. Idowu

No ambiguous words here. Anuoluwamipo is a communication professional, with years of experience in the media. Her contents are educational and relatable. You are in for a fun ride with her.

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