The equivalent of one year in 2019, nine months in 2020 and five months in 2021. This is the record amount of venture capital injected into startups on the African continent since the beginning of the year. In seven weeks, investors have shown interest in 130 financing deals already, reaching the symbolic billion dollar mark.
To set the pace, two funding rounds have attracted more than $100 million each, reports the newsletter Africa: The Big Deal, edited by Max Cuvellier and Maxime Bayen. InstaDeep (Series B), in Tunisia, and Flutterwave (Series D), in Nigeria. The former works in artificial intelligence and the latter in electronic payments. Both have taken advantage of the pandemic to make their product even more important.