On February 14th and 15th, the Africa Tech Summit in Nairobi will serve as a platform for ten African startups seeking to secure funding ranging from $500,000 to $15 million. The carefully selected startups, spanning sectors such as fintech, agritech, e-commerce, Web3, and climate-tech, will pitch their ventures to a discerning audience of investors and industry experts.
Amid a slowdown in startup funding on the continent in 2023 compared to the record-breaking year of 2022, the investment showcase emerges as a strategic avenue for the finalists to secure the capital injection crucial for their growth. According to data from DabaFinance, African startups experienced a 39% decrease in funding, dropping from $4.6 billion in the previous year to $2.9 billion in 2023.
Among the selected startups for this year’s showcase are:
- Node Bio: A Kenyan climatetech startup leveraging cutting-edge plant science for developing crop treatments combating climate change effects, with their innovative solution, Farmchef.
- Valu: A leading Egyptian Buy Now Pay Later (BNPL) fintech platform in MENA, providing comprehensive financial solutions.
- Bingtellar: A Nigerian crypto startup creating payment infrastructure for global citizens, including freelancers, remote workers, and businesses, with their product “ramp” simplifying crypto transactions and facilitating swift money transfers across Africa.
- Dukka: A Nigerian startup digitising payments and bookkeeping solutions to assist small businesses in Africa in accepting all digital payment methods.
- FutureLink Technologies: A Ugandan startup operating a digital marketplace simplifying financial access for individuals and facilitating payments for financial cooperatives.
- Tausi App: A Kenyan beauty tech company connecting beauticians to potential customers through technology, with over 6000 registered beauticians so far.
- Feegor: A Nigerian B2B e-commerce company connecting SMEs to manufacturers and major wholesalers.
- Peercarbon: A Kenyan climate fintech startup utilising granular emissions data and sustainable finance technology to empower African SMEs through its Software as a Service (SaaS) platform.
- Regxta: A Nigerian fintech startup providing accessible financial services to underserved communities, micro-businesses, and displaced persons across Africa.
- URBANET: A Kenyan startup promoting international dialogue on development activities worldwide, providing insights on municipal and local governance, sustainable urban development, and decentralisation.
As anticipation builds for the Africa Tech Summit in Nairobi, the selection of these ten startups highlights the strength and variety in Africa’s growing tech scene. The event is not just a big moment for the finalists but also shows how Africa is dedicated to encouraging new ideas and solving important problems using technology.
The investment showcase is part of bigger efforts to boost startup funding in Africa. The organizers are creating a space for entrepreneurs to present their business ideas, and at the same time, it’s a great chance for networking. This event aims to connect startups with potential investors.
The goal is not just to get funding but also to find mentors and partners that can help these startups grow. The hope is that successful pitches will not only bring in money but also open doors for guidance and partnerships, helping these startups reach new levels.
