In seven years, 383 Nigerian tech startups raised over $2 Billion – Report

Social Media Plug-ins:

Nigerian Startup Ecosystem Report 2022: the Nigerian startups have so far raised a total of $747.9 million this year

Morehouse College freshmen Philip Rucker, Damon Redding and Tyree Stevenson use a programming language called Python to plot a map of weather stations in the United States.

The latest report by Disrupt Africa has showed that At least 383 individual Nigerian tech startups raised a combined US$2,068,709,445 in funding between January 2015 and August 2022, more than any other country in that period. Funding, both in terms of the number of startups backed and the total tally secured, has generally increased year-on-year, with total investment increasing more than four-fold between 2020 and 2021, and on course for a further big leap in 2022. This, it said, is far higher than what any other African country received in the period, adding that Nigeria is the most popular investment destination on the continent.

The report, which captures funding in the tech startup ecosystem from January 2015 to August 2022, further disclosed that 107 Nigerian startups have raised funding in the last 8 months accounting for around one third of the continent’s funded startups so far this year.