5 African Startups that are Trailblazing In the Continent’s Growing Tech Ecosystem

From Ngozi Nwanji

AS TALENT ACROSS the African continent consistently rises in numbers, its tech ecosystem is growing right along with it. From securing millions of dollars for funding initiatives such as for climate change to creating innovative technology that aims to disrupt industries, there is a movement of African founders and tech entrepreneurs who aim to build a promising future.

In light of the rising tech trailblazers, AfroTech is highlighting African startups that are not only making waves but are gearing up to make a lasting impact.

Shuttlers

Back in 2021, Damilola Olokesusi, founder of Shuttlers, became one of the few women to receive major venture capital in Africa after raising $1.6 million to improve the continent’s mobility industry. Now, in April 2023, the Nigerian mobility company has raised $4 million in a new funding round led by Verod-Kepple Africa Ventures (VKAV) and is on its way to going live in five more cities, according to TechCrunch.

“We have built an infrastructure that allows us to expand into different geographies within and outside Nigeria and supports multiple stakeholders, from partners and drivers to marshals and administrative bodies,” Olokesusi told the outlet. “Our main focus is to take over the bus-sharing space and be this huge startup that, you know, is very profitable.”

Rwazi

Co-founded and launched by Eric Sewankambo and Joseph Rutakangwa in 2021, Rwazi is a market intelligence startup that supports brands in sourcing critical data before entering into markets, as previously reported by AfroTech. With a network of over 50,000 consumers, the Mauritius-based startup collects data directly from users by them logging their purchases in an app. In March 2023, Rwazi raised a $4 million seed funding round for its expansion. As of this writing, Rwazi’s products are available in 40 African countries and in South Asia and Latin America markets.

Afriex

Afriex, based in Lagos and San Fransisco, provides reliability for its users to send and receive money. According to Crunchbase, Afriex has raised a $11.4 million over 5 rounds. The funding went toward its core money transfer product and vision to launch a stablecoin.

”Because we are building this of connected financial institutions, we have built on-ramps for local Nigerian banks and on-ramps for local currency exchanges,” co-founder Tope Alabi told Forbes. “We are building this web3 mesh of financial institutions that could almost become something like the next Visa.”

DrugStoc

Chibuzo Opara and Adham Yehia are the cofounders of DrugStoc — Africa’s leading health tech platform. The Nigerian tech startup was launched in response to the barriers within the continent’s broken pharmaceutical supply chains.

As AfroTech previously told you, not only is the startup committed to supporting those in need of pharmaceutical products but also healthcare providers.

In 2021, DrugStoc raised $4.4 million in a Series A funding round led by Africa HealthCare Master Fund. Other investors included Vested World, the German Development Bank, and others.

Vendease

Vendease’s ultimate mission is to provide a solution to combat Africa’s food supply issue. In September 2022, the Nigerian marketplace, which helps African restaurants and hotels, raised $30 million in a Series A funding round, TechCrunch reported.

“We’re building technology to efficiently move food from the point of production to the point of consumption,” CEO Tunde Kara told the outlet. “Everything we build at Vendease — financing, logistics, warehousing, inventory management — is tailored towards ensuring that food flows efficiently from that point of production to the point of consumption.” https://www.msn.com/en-us/money/other/5african-startups-that-are-trailblazing-in-thecontinent-s-growing-tech-ecosystem/arAA19GrUz

Image credit: finsmes.com, appadvice.com, africabusinesscommunities.com, ch.linkedin.com

WHEN I DECIDED TO LEARN how to code in 2017, I was surprised — not just by how much I enjoyed the creativity involved, but even to find myself working toward becoming a software engineer. It was a complete turn of events for me, as someone who had been pursuing a career as a psychodynamic therapist, and I was so proud to begin sharing my progress on social media.

As I detailed my journey online, I recognized a sense of community building as people began following me, someone with whom they identified — a Black, queer, and neurodivergent woman — in a field where that’s rare. Black women only make up 0.7 percent of the technology workforce in the UK(Opens in a new tab), with even fewer also identifying as neurodivergent and/or queer.

My goal is to inspire and empower those who identify with any or all areas of my intersectionality to get into the tech industry, and to do so, I use the most powerful and accessible tools at my disposal: my voice, my story, and social media.

Sharing my intersectionality