BRITER BRIDGES
The startups’ funding history has been analysed to provide further insight into the investment into deep-tech in the continent, identifying which countries and sectors the funds typically go to, providing an overview of some of the investors that have invested in the sector, and highlighting the stages and maturity of the sector. Funding Snapshot
Funding dedicated to deep technologies has come as a consequence of the progressive awakening around the investment opportunity across Africa, as well as the increase in world-class solutions being developed across the continent, which have gradually attracted international funders. The industry has been growing over the last few years, growing each year as demonstrated in the figure above. Between 2015 and June 2022, deep-tech companies raised a cumulative amount of $2.35 billion in disclosed funding, accounting for 15% of all the funding raised by technology companies in the continent over the same period. It is important to note that these numbers also consider startups that employ the usage of deep-tech tech clusters in their offerings, although they traditionally would not be classified as deep-tech companies. Conventional deep-tech companies raised $139 million in the same period, accounting only for 6% of the total funding raised by all the deep-techs. It is crucial to note, however, that this funding isn’t dedicated to boosting the deep-tech components of each company, but rather targeted at the company as a whole itself.
10
EVALUATING THE AFRICAN DEEP-TECH STARTUP ECOSYSTEM
Made with FlippingBook - Online Brochure Maker