BRITER BRIDGES
Kenya emerges as the top-funded country, with 119 deals totalling $1.46billion, and accounting for 62% of the total funding into deep-tech startups on the continent. South Africa emerges second with 15%, Nigeria third, and Egypt fourth. This is reflective of the broader funding trends into the tech ecosystem across Africa, where these countries emerge as the top four funding destinations. Tunisia and Egypt can also be seen to have raised significant funding in the industry. It is important to note that this geographical Geographical Breakdown
categorisation is based on African headquarter locations, which are the companies’ primary offices or countries of operations on the continent. Looking at the countries of incorporation, however, companies headquartered in the United States emerge the top funded, accounting for 57% of the total funding.
EVALUATING THE AFRICAN DEEP-TECH STARTUP ECOSYSTEM
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