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Nicole Dunn

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Report Says African Startups Raised $1M Every Two Hours In 2021

The African startup economy is growing faster than the global economy. Last year, various African startups celebrated wins displayed in dollar signs. There was a slew of high-performing investment rounds which included uLesson ($15M), Metro Africa Xpress Inc. ($31M), and MFS Africa ($100M). We could certainly go on but those numbers are proof that African startups are growing at a rate we have not seen before. According to a LinkedIn posting by Founders Factory Africa’s Accelerator Lead Nicole Dunn, it was said that African startups raised $1 million every two hours in 2021 with a total of $4.9 billion invested in African startups. Now more than ever, investments are soaring in Africa. Here is why.

Samantha Dorisca

Jan 24, 2022