African startups raised R1.7 billion in funding throughout 2016

edited March 6 in Site discussion

imageAfrican startups raised R1.7 billion in funding throughout 2016

Read the full story here


Comments

  • The growth in startup investment is encouraging, but $129 million across an entire continent of nearly 1 billion people most definitely can be described as "small". Indian startups got $2.5 billion in PE and VC investment last year. European VC investment alone was $16 billion last year - a decline of $2 billion from the previous year. $129 million would be one funding round for one Silicon Valley startup. A lot more needs to be done to attract serious investment in African tech startups, and patting oneself on the back about this level of funding is not it.

Sign In or Register to comment.