IBEX DIGEST: 2018 TECH & STARTUP FUNDING for ETHIOPIA
7th it was - Ethiopia's Tech and Startup Funding in Africa for 2018. FINTECH took the lion share of the funding at 76% while off-grid energy (12%) and Agri-tech (9%) followed 2nd and 3rd in attracting funding.
Ibex Frontier is pleased issuing the 2018 Tech & Startup funding for Ethiopia, with funding that has put Ethiopia in the top 10 countries in Africa - 7th - with the total disclosed funding of $13M USD. This was in line with our 2018 prediction we issued at the start of the year! Please download our report HERE for full detail or access at https://lnkd.in/e2k44je.
What is our 2019 outlook for Ethiopia's Shebavalley tech Eco-system?
As mentioned in our report, the recurring theme in Shebavalley for 2019 will be : Fintech, Business Process outsourcing ( BPO), E-commerce, Health-tech and Ethiopia's Satellite launch to space! Additionally, those startups that raised funding in 2017/18 will be scaling-up, releasing new products and services and attract new investment rounds while a strong diaspora led tech investment will flow to the country re-invigorating the tech eco system! Ibex Frontier will continue to provide Visibility, Access & Opportunity to Ethiopia's tech Eco-system Shebavalley.
Note on Methodology: The total sum of $13M was arrived by aggregating disclosed deals only. There are investments made and included in the visual ( Zayride/Zaytech that raised significant sum but did not disclose the sum as well as Zembil whose amount is not disclosed and hence both not included in the total figure). The minimum investment of startups in this report was $41K (Langbot) and maximum $9.87M ( M-Birr). Had all investments disclosed, the total amount would have been significantly higher than the reported $13M.
Please visit our website www.ibexfrontier.com for more information on Tech and Investment in Ethiopia.