• Latest
  • All
  • How To
funding

African Startups Have Received $1.7 Billion So Far in 2022

August 4, 2022
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
DHgate Tablet Cases deals
GTA VI

Rockstar May Be Testing 96-Player Servers for GTA 6

July 10, 2025
Former X CEO, Linda Yaccarino

Linda Yaccarino Steps Down as CEO of X After Two Years

July 9, 2025
Apple-WWDC25-iOS-26

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

July 9, 2025
Official document handover by Bernard Mwonyonyo and Habib Lukaya from Roam.

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

July 9, 2025
Samsung

This Samsung Security Update Could Change How You Use Your Phone

July 9, 2025
tecno ultimate g fold concept

TECNO Joins Tri-Fold Race With Ultimate G Fold Concept Phone

July 10, 2025
Microsoft Edge browser

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025
Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

July 8, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

African Startups Have Received $1.7 Billion So Far in 2022

Kenn Abuya by Kenn Abuya
August 4, 2022
in News
Reading Time: 2 mins read
264
0
funding

Every other day, a startup receives money from investors. Africa, for instance, is one of the hottest markets for such ventures, but how have things progressed so far in 2022? To note, venture-backed startup companies face high levels of uncertainty. Also, high-quality startups face the problem of separating themselves from the rest of the companies in the market.

According to a report put together by CB Insights, global funding to startups reached $108.5B in Q2 2022. This represented a 23% drop quarter-over-quarter (QoQ). This is the largest quarterly percentage drop in funding in nearly a decade. While the new funding level marked a 6-quarter low, it was still the sixth largest quarter for funding on record.

In the same spirit, as investors scaled back, funding shrank across all major regions in Q2 2022, including the US and Asia with a 25% QoQ drop each. While the US drove almost half of all funding ($52.9B), Q2 2022 marked its lowest funding amount since 2020. In contrast, Europe-based startups only saw a 13% dip in total funding QoQ.

$100 million+ mega-round funding reached $50.5B across 250 deals in Q2 2022, marking a 31% fall QoQ. Mega-round activity also experienced a 31% decline, hitting its lowest level since 2020. While the US saw a 34% decline in mega-rounds, startups here accounted for 51% of all mega-round funding in Q2’22

Unicorns

During the same assessment period, there was the birth of 85 new unicorns globally — a 6-quarter low and a sharp decrease from the 148 unicorns born a year ago in Q2 2021. The US and Europe accounted for most of the new unicorns, with 49 and 16 unicorn births, respectively. The highest valued new unicorn was the Seychelles-based crypto exchange company KuCoin, with a valuation of $10B.

Exits

Exit activity continued to slow down. The number of exits decreased by 16% QoQ to 2,648 total in Q2 2022. M&A deals fell by 16% to 2,502 in Q2’22, a 6-quarter low. IPOs and special purpose acquisition companies (SPACs) dropped by 15% and 26%, respectively. Europe-based startups accounted for 39% of all exits in Q2 2022, surpassing the US’ 36% share.

In Africa

Funding to Africa-based startups totaled $1.7B in the first half of 2022, more than half of the total raised in all of 2021. At the current rate, funding could exceed last year’s figure by $1B. If this occurs, this will be the second year of continuous and significant funding growth for the continent.

Tags: AfricaFundingStartups
SendShare146Tweet92
Kenn Abuya

Kenn Abuya

Kenn Abuya is a friend of technology, with bias in enterprise and mobile tech. Share your thoughts, tips and hate mail at [email protected]

Related Posts

Axian Telecom Considers Full Acquisition of Jumia

Axian Telecom Is Plotting a Full Buyout of Jumia

July 3, 2025
Kenya startup funding growth

New Report: Startup Growth at Risk Due to Foreign Funding Dependence

June 5, 2025
Lipa Later

Lipa Later Crisis: Administrator Appointed as Company Faces Financial Woes

March 27, 2025
Safaricom Cohort

Safaricom Hosts Spark Accelerator Demo Day, Announces Second Cohort Applications

March 23, 2025
Tech startup

Startups May Have to Dedicate 15% of Expenses to Research If Startup Bill Is Passed Into Law

June 5, 2025
Africa's Big Four Dominate Startup Funding

Kenya Startups Secure $638M, Leading Africa’s Tech Ecosystem

January 8, 2025

Latest

Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
GTA VI

Rockstar May Be Testing 96-Player Servers for GTA 6

July 10, 2025
Former X CEO, Linda Yaccarino

Linda Yaccarino Steps Down as CEO of X After Two Years

July 9, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

More News

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

This Samsung Security Update Could Change How You Use Your Phone

TECNO Joins Tri-Fold Race With Ultimate G Fold Concept Phone

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.