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26 Kenya tech startups attracted funding of $10mn in 2016

Published on January 27, 2017

Kenya is Africa’s second country in attracting investment funding for tech startups in 2016 according to a new report.

The report indicates that 26 Kenyan tech startups raised funding of about $10 million over passing Nigeria putting the country 2nd behind South Africa a 50 percent shoot from the previous year.This was up almost 50 per cent on previous year.

The overall amount for Kenya’s startup funding however went down by 80 per cent to about $80 million.

According to the report by Disrupt Africa, South Africa, Nigeria and Kenya shared the lion’s share of funding in 2016.The three countries shared 80 percent of the $129 million total funding that flowed to 146 startups in the continent representing a 17 percent increase from 2015. Read more. Source | The Exchange