More deals but less money for Tanzania 🔎Fundraising in Africa 2023 - Week 8
First, we would like to tell you more about the terminology Seed, Serie A, serie B, Serie C... It’s about stages of funding rounds that a startup company goes through as it grows and develops. As long as the company is not listed on the stock exchange, we are talking about:
Pre-seed or Seed: Seed funding is the initial stage of funding that a startup company receives. This funding is usually provided by angel investors, friends and family, or early-stage venture capitalists. Seed funding is typically used to validate a business idea, develop a minimum viable product (MVP), and conduct market research.
Series A: Series A funding is the first formal round of funding that a startup company receives from venture capitalists. At this stage, the startup has already established a track record of success and has a working product or service. Series A funding is typically used to scale the business and expand into new markets.
Series B: Series B funding is the second round of funding that a startup receives from venture capitalists. At this stage, the company has already demonstrated significant growth and has a proven business model. Series B funding is typically used to further scale the business, hire additional staff, and increase marketing efforts.
Series C and beyond: Series C funding and beyond are subsequent rounds of funding that a startup may receive as it continues to grow and expand. These rounds of funding are typically used to fuel further expansion, invest in research and development, and explore new opportunities.
Last week, TINA Tour has idendified 7 operations of fundraising in Africa.
For your information, this week, the tech ecosystem in Tanzania recorded a third agreement for this year 2023. 3x times more deal than last year at the same period but an amount at least 25x lower! For moment, this year all deal registered for Tanzania are small pre-seed or seed round with amount lower than 200k$, while last year NALA, the unique fundraising on January-February was raised 10m$! Do you want more insight? You should click there.⤵
There are some charts that summarize VC activity in Africa last week. ⬇
To find out the complete list of startups raising funds with the amount details, round, investors involved and more, just subscribe below.
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Don’t forget fundraising is not just about the amount raised for VC statistics. It is also a good way to identify companies which will need more partners, new office, more talents etc.
Get more data about fundraising in Africa ⤵
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