Y Combinator has released statistics about the its Winter 2022 Batch. According to Michael Seibel, Group Partner and Managing Director, Early Stage at YC, the Winter 2022 batch received 17,000 applications from founders around the world and funded 414.
It is interesting to note that Nigeria has 18 startups in this batch making it the third most represented country. As usual, USA takes the first position while India comes in the second place with 32 startups. 42 countries are represented in the batch with about 50% of the companies based outside the US.
The Nigerian startups are listed below
| Topship | Duplo | Payourse |
| Moni | Vendy | Sendme, Inc |
| Simplifyd Systems | Convoy | Lenco |
| Dojah | Identitypass | Grey |
| Curacel | Plumter | Eazipay Inc. |
| Heyfood | Remedial Health | Touch and pay Technologies |
New Zealand, Sudan, Uganda, and Costa Rica are represented for the first time. Ten African startups pitched at virtual Y Combinator’s W21 batch demo day which had 274 companies from 41 countries represented. Nigeria was represented by Mono, Prospa, Sendbox, Vendease and Blueloop.
The startup founders are presenting their companies to an invite-only audience of investors at Y Combinator’s 34th two-day virtual only Demo Day event holding on the 29th and 30th of March , 2022.
Some more information about the W22 batch are as follows:
- 57% of the batch applied more than once
- 29% of the batch were accepted with only an idea
- 55% of the batch raised money before YC
- 10% had more than $50k of monthly revenue when accepted
Just this January, the technology startup accelerator announced that it has revised its standard deal upwards for accelerator companies. It is now offering to invest a total of $500,000. It will still invest $125,000 for 7% and now also invest an additional $375,000 on an uncapped safe with an Most Favored Nation” (MFN).
MFN means that this safe will take on the terms of the lowest cap safe (or other most favorable terms) that is issued between the start of the batch and the next equity round. Simply put, Y Combinator is giving the company money now but at terms the company will negotiate with future investors.
Some of the famous Nigerian startups that have graduated from Y combinator program include Flutterwave, Paystack, Releaf, CredPal, 54Gene, Kobo360
