Here is Ideaslane Africa’s 7 Nigerian Startups to Watch in 2020
As the Nigeria tech startup ecosystem continues to expand, new startups coming out of Nigeria remain the darlings of venture capitalists who invest heavily – though sometimes rather suspiciously- in startups from the region.
Tech startups in Nigeria raised $110.9m investment from local and foreign investors in the first half of 2019. While in 2018, about $178m in funding rounds was raised by startups, according to a report by Techpoint Africa.
Is it safe to say that venture capitalist’s interest in Nigeria as the destination for investment and their commitment signified in Naira & kobo or better still, dollars and pounds have birthed more tech startups in the country or is it vice visa? Well, in any event, such development has the potential to drive the much desired economic growth in the nation.
We asked a number of venture capitalists, angel investors; mentors and industry leaders in Nigeria to name the startups that are promising for 2020 in terms of scaling growth and attracting even more investments. And here is what we gathered from their various responses.
Some of the good looking sectors are edtech, aritech, fintech, and healthtech among others. We hope that 2020 will even surpass previous records with the injection of foreign currency by the already twitterpated venture capitalist community. Our fingers are crossed.
7 Nigerian Startups to Watch in 2020
Sector: Mobility and Transport
Founder: Tonye L. Membere-Otaji
What it does: A tech-driven maritime platform that matches vessel charter requests with available Offshore Support Vessels (OSVs), helping users conveniently charter vessels while reducing man-hours, cutting costs and improving performance.
Fund raised: $100k Pre-seed Fund
Founder: Dr. Abasi Ene-Obong
What it does: 54gene is an African genomics company building the world’s largest pan-African biobank. They want to unlock the African genome and improve our understanding of the world’s most genetically diverse population.
What it does: Helps African parents access school fees finance and make informed school choices with ease.
Founder: Jide Ayegbusi, Bukola Owo-Bello
Fund raised: Nil
Founder: Michael Ogundare, Emem Essien
What it does: Enables smallholder farmers in rural Nigeria to receive digital payments and build their financial identity.
Fund raised: Over $2,000
Founder: Dr. Debo Odulana
What it does: Creates healthier communities in Africa, by connecting healthcare consumers & professionals to quality healthcare experiences.
Fund raised: Over N5million
Sector: mcommerce (mobile commerce)
Founder: Cris Blaze Shekinah – Co-Founder
What it does: Helps manufacturers to sell products directly to the end consumers without the retailers being involved. With these model products on Lekkify will be 90% affordable/cheaper (prices).
Fund raised: Nil
Sector: Media & Entertainment
Founders: Chidi and Chika Nwaogu
What it does: Helps publish African books and music for free to hundreds of platforms
Fund raised: Over $10,000