According to Disrupt Africa’s Startup Funding Report for 2018, startups in Nigeria got the bulk of investment in Africa – 58 startups including the likes of Piggybank, Farmcrowdy, and Paystack raised a total of $94.4 million. There seems to be no slowing down, as Nigerian startups are raising even more money in 2019.
In this article, we will look at 8 Nigerian startups that have raised the most money so far in 2019.
Andela
First on the list is Andela , a company that searches for tech talent, identifies and trains them to become full stack software engineers. Andela started from Nigeria in 2014 by Jeremy Johnson, Iyinoluwa Aboyeji, Ian Carnevale and Christina Sass. It presently has offices in Nigeria, Kenya, Rwanda, Uganda and the United states.
This year, Andela announced a $100 million Series D investment round – one of the highest to be raised by any tech company focused on African. The investment round was led by Generation investment management (a firm co-founded by AL Gore, former US Vice president). Other investors include: the Chan Zuckerberg Initiative, Spark Capital, Google Ventures, and CRE Venture Capital. Andela’s total investment till date is $180million.
OPay
Opay , a Nigeria focused fintech company backed by Norwegian browser company, Opera, launched in Nigeria in august 2018 with the aim of providing mobile payment services to Nigerians. It also launched other products including a food delivery service (Ofood), motorcycle hailing (Oride) and tricycle hailing service (Otrike) in some parts of the country
A few months back, Opay announced that it has raised $50m in funding from Sequoia China, IDG Capital, Source Code Capital and Opera (its parent company).
Kobo360
Launched in 2017, Kobo360 is a freight logistics startup that connects truckers and companies to cargo delivery service via its mobile app. The platform is a brain child of Ife Oyedele and Obi Ozor. Kobo360 claims to have over 10,000 drivers and trucks registered and operating on its app.
In a series A funding round led by Goldman Sach in august 2019, Kobo360 was able to raise $20m and another $10m in debt financing from Nigerian banks. This amounts to a total of $30m in funding. Till date, Kobo360 has raised a total of $37.3m from 6 funding rounds.
Teamapt
Teamapt is a financial technology company founded by Tosin Eniolorunda in Nov 2019. It focuses on developing solutions in digital and commercial banks, digital business and online payment infrastructure.
Early this year, Teamapt raised $5m series A round which was fully funded by Quantum capital – a firm founded by popular banker, Jim Ovia.
FarmCrowdy
Farmcrowdy is the first digital agriculture platform in Nigeria. Founded by Onyeka Akumah in 2016, farmcrowdy is focused on helping farmers get funding for their farms. They do this by giving Nigerians the opportunity to sponsor a farm and earn interest. The cash gotten from these sponsors are used to provide farmers with improved seedlings and other farm inputs.
After raising $1m in 2017, Farmcrowdy early this year announced that it has raised an additional $1m in seed funding. This brings the total amount raised to $2m – although they received a grant of $325,000 from GSMA Ecosystem Accelerator in early 2018.
Kudi
Kudi is a fintech company founded in 2016 by two OAU alumni’s – Adeyinka Adewale, the current Chief executive officer and Pelumi Aboluwarin the Chief technology officer. Kudi provides the underbanked and the unbanked in Nigeria with access financial services with includes cash withdrawal from agents, utility bills payment, and money transfer.
In 2017, Kudi raised its first seed round of $120k from Y Combinator. This year, they raised $5m series A funding round. This funding round was led Partech partners. The investment is to aid the expansion of its agent network and other products.
Max (Metro Africa Express)
Max.ng is a bike hailing company that connects users to professional motorcycle riders via its mobile app. The company was founded in 2015 by Chinedu Azodoh and Adetayo Bamiduro and has raised a total $8.1m till date over 4 rounds. Its latest fund raising happen in june 2019, Max raised $6m in series A funding and $1m grant, making it a total of $7m from 5 investors led by Kenya’s venture firm Novastar ventures. Other investors include Japanese motorcycle maker, Yamaha, Breakthrough Energy Ventures, Zrosk Investment Management and Alitheia Capital.
Gokada
Gokada , another Lagos based on-demand ride hailing service was co-founded by Fahim salah – a Bangladeshi entrepreneur and Deji Oduntan on 1 january 2018. Gokada wants to make it possible for Nigerians to move safely without worries of traffic or exorbitant prices. To do this, Gokada, via its app, gives users access to hail motorcycles at affordable rates.
Early this year, Gokada announced that it has raised $5.3m from a series A round. This round was led by rise capital, with Adventure Capital, IC Global Partners and MidWest Group (an Illinois-based company) joining in.
Emmanuel Moses Temidayo is a consumer tech writer based in Nigeria, with a keen focus on fintech, mobile apps, and web technologies across Africa. He covers the latest tech news, provides practical how-to articles, and delves into the dynamic fintech landscape, offering readers a deeper understanding of the innovations shaping the continent’s digital future.
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Talkio Mobile , Uganda’s newest telecommunications service provider, is excited to announce a groundbreaking partnership with Banana Life Investments, a leading chain of mobile phone and retail shops. This strategic alliance aims to bring Talkio’s innovative telecom services closer to Ugandans.
This collaboration will leverage Banana Life Investments’ extensive retail network of 26 stores strategically located across Uganda in major malls, towns, and cities to provide customers with unparalleled convenience. Through this partnership, Talkio Mobile will offer its full suite of services, including SIM cards, airtime, and exclusive product offerings at any Banana Life Investment location.
This partnership is more than a business initiative—it’s a shared commitment to transforming lives. By integrating Talkio Mobile’s forward-thinking services & nationwide reach with Banana Life Investments’ retail footprint, the two brands are setting a new standard for customer convenience and inclusivity.
READ ALSO: 5 Things You Need to Know About Talkio Mobile: New Telecom Company in Uganda
“This partnership aligns perfectly with our mission of connecting Ugandans to innovative and transformative telecom solutions,” said Vianne Allan Ahura, CEO of Talkio Mobile. “By leveraging Banana Life Investments’ trusted presence and nationwide footprint, we are not only expanding our agent network but also bringing our services closer to the communities we serve. This collaboration ensures that our online customers can now enjoy a seamless offline experience right at their doorstep. Together, we are empowering Ugandans with the tools they need to stay connected, grow their businesses, and unlock new opportunities.”
Solomon Ssemuyaba, the assistant general manager at Banana Life Investments, echoed this sentiment: “We are proud to join hands with Talkio Mobile to deliver innovative, customer-centric solutions. This partnership represents our shared vision of fostering a connected future for Uganda. Together, we are redefining what convenience and accessibility mean for our customers.”
The partnership goes beyond retail distribution, introducing joint initiatives aimed at value addition and personalized service. Customers can expect seamless access to:
- SIM Card Sales : Available at all Banana Life Investments locations.
- Talkio phone number bookings : Book your preferred Talkio number at any Banana Life Investments location.
- Airtime Services : Recharge easily through in-store purchases.
- Customer Support : Friendly and knowledgeable staff trained to assist with Talkio Mobile products and services.
Additionally, the two companies plan to launch promotional campaigns and expand services to even more locations, ensuring no Ugandan is left behind in the digital transformation.
Solomon Obwot is a tech writer based in Kampala, Uganda, with extensive experience in the local tech startup ecosystem. He covers the latest news and analysis on consumer tech, writes in-depth smartphone reviews, and conducts insightful interviews with industry experts. Solomon is also a passionate podcaster, sharing his knowledge and engaging in discussions about Africa’s rapidly growing tech landscape. Send emails to [email protected]
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The Mobile World Congress (MWC) Barcelona , the world’s largest exhibition for the mobile industry, has just concluded. This annual event gathers leading technology brands to unveil groundbreaking mobile, AI, and digital solutions innovations. At MWC 2025, TECNO showcased a range of AI-driven products, reinforcing its commitment to cutting-edge technology.
The key launches included:
- CAMON 40 Series – AI-powered smartphones with One-Tap FlashSnap and advanced mobile imaging features.
- MEGABOOK S14 – The world’s lightest 14-inch OLED laptop, featuring AI-enhanced multitasking and Snapdragon® X Elite.
- MEGABOOK T14 Air & K15S – Lightweight ultrabooks with AI capabilities and extended battery life.
- TECNO AI Glasses Series – Smart eyewear integrating AI imaging, translation, and AR display.
Jan Stryjak, Associate Director at Counterpoint Research, shared, “In the past year, we have observed significant advancements in the field of AI. AI will continue to drive transformative changes in our daily lives. In this critical period for the economic development of emerging markets, TECNO’s AI technologies are unlocking potential for diverse needs.”
“The application of AI technologies is crucial and urgent in emerging markets. We’re committed to bridging the digital gap between emerging and mature markets,” said TECNO CMO, Laury Bai. “TECNO is taking a practical approach to make AI more accessible, ensuring users in emerging markets can access AI and cutting-edge technologies.”
Laury Bai, TECNO CMO
Driven by its commitment, TECNO has forged a robust partnership with MediaTek, establishing a joint AI laboratory dedicated to accelerating advancements in AI. At the event, James Chen, Vice President of Product and Technology Marketing at MediaTek, emphasized, “The synergistic R&D efforts between TECNO and MediaTek are set to democratize AI technology. Our collaboration powers a seamless, interconnected AI experience, bringing users a future of truly connected intelligence.”
James Chen, Vice President, Product and Technology Marketing at MediaTek
CAMON 40 Series Powered by AI One-Tap FlashSnap Revolutionizes Smartphone Snapshot Photography
TECNO’s Global Product Launch Officer, Olivier Mas, officially unveiled TECNO’s next-generation AI-driven products. Attendees at TECNO’s launch event witnessed the highly anticipated debut of TECNO’s new CAMON 40 Series, a device that embodies TECNO’s legacy of excellence in mobile imaging. Featuring One-Tap FlashSnap Mode and TECNO AI, the series sets a new benchmark in smartphone photography, delivering exceptional snapshot capabilities and AI-enhanced user experiences.
Olivier Mas, TECNO Global Product Launch Officer
The CAMON 40 Series exemplifies a commitment to innovation that transcends hardware and software, extending into strategic partnerships that deliver cutting-edge AI solutions to emerging markets. Matt Waldbusser, Managing Director of Global Solutions and Consumer AI at Google Cloud, remarked, “Our collaboration with TECNO on the CAMON 40 Series is a standout example. Leveraging Google Cloud’s capabilities, we’ve introduced groundbreaking features such as Ask Ella, AI Image Generator, AI Writing, and AI Translate. I am particularly impressed by the industry-leading and competitive edge of some of these innovations. For instance, TECNO’s AI supports text translation in 136 languages, voice translation in 44 languages, and photo translation in 51 languages. We are excited to further strengthen our partnership with TECNO, unlocking limitless potential to bring advanced yet practical AI capabilities to emerging markets in a convenient and secure manner.”
Matt Waldbusser, Managing Director of Global Solutions and Consumer AI at Google Cloud
The CAMON 40 Series’ innovative One-Tap FlashSnap leverages AI to enhance imaging capabilities, revolutionizing mobile photography. AI optimizes camera startup and continuous shooting for instant captures, while AI-powered multi-frame processing intelligently reduces noise and enhances details, delivering sharper, more refined images. Additionally, the BestMoment algorithm analyzes motion patterns, automatically selecting the optimal frames for precise, high-quality shots in dynamic scenarios, ensuring users an unparalleled mobile imaging experience.
TECNO CAMON 40 Demonstrates the Cutting-Edge FlashSnap Capability
To delve deeper into the imaging prowess of the CAMON 40 Series, TECNO invited Frédéric Guichard, CEO of DXOMARK, to share the image performance of CAMON 40 Pro. Frédéric highlighted, “The CAMON 40 Pro 5G has demonstrated exceptional imaging and performance capabilities in our rigorous evaluations. We’ve been particularly impressed with photo performance being the best for devices under 600$, and the 1st eligible device to our Smart Choice Label.”
Onsite photo of Frédéric Guichard, CEO of DXOMARK
Beyond its advanced rapid-capture functionality, the integration of TECNO AI further enhances the device’s capabilities. Intelligent imaging, a 360° AI Call Assistant, and productivity tools elevate creativity and efficiency. Powered by MediaTek’s latest chipsets, the series ensures smooth performance, fast processing, and extended battery life. With a sleek, durable, and water-resistant design, it seamlessly blends style with practicality for modern users.
MEGABOOK S14, the World’s Lightest 14-inch OLED Laptop, Inspires Creators and Game Lovers
The MEGABOOK S14 is TECNO’s first OLED laptop and the industry’s lightest 14-inch OLED laptop, featuring a 2.8K OLED display and incredibly weighing only 899g (31.7oz). The laptop is equipped with the outstanding power of the Snapdragon® X Elite compute platform, the flagship chipset for AI PCs from Qualcomm Technologies, and integrates TECNO’s world’s first self-developed edge-side large-scale AI model, to achieve AI-enhanced multitasking.
World’s Lightest 14-inch Laptop MEGABOOK S14
Specifically designed for next-gen AI productivity, TECNO AI enhances the Ella AI Assistant, AI-powered PPT generation, AI-driven image search, smart albums, and offline meeting transcription with multilingual support. The External Graphics Dock, equipped with a powerful NVIDIA graphic card, delivers scalable, high-performance capabilities for design, gaming, and content creation. The laptop’s 2.8K OLED display with a 120Hz refresh rate ensures exceptional visuals, while DTS:X Ultra dual 2W speakers, Wi-Fi 6E, fingerprint login, and PC Manager optimize connectivity and user experience.
TECNO’s strategic partnership with Qualcomm Technologies was a highlight of the TECNO AI Ecosystem Product Launch event, demonstrating a shared vision for the future of AI PCs. Kedar Kondap, SVP & GM of Compute and Gaming at Qualcomm, took the stage to discuss the integration of Qualcomm’s cutting-edge PC chipset into the new MEGABOOK S14 laptop, underscoring TECNO’s commitment to delivering high-performance computing solutions.
Kedar Kondap, SVP & GM of Compute and Gaming at Qualcomm
In addition, TECNO also introduced several standout new products. The featherlight 999g (35.2oz) ultrabook MEGABOOK T14 Air, features high-speed storage and LPDDR5 memory, while the ultra-thin, all-metal MEGABOOK K15S, equipped with a powerful 70Wh battery and supported by a 65W PD GaN charger, offers a smarter and more long-lasting user experience. Both devices are empowered by TECNO AI with advanced AI capabilities such as AI Album and AI Voice Assistant, making them perfect companions for all aspects of life.
The Next Game-Changing Tech Innovation: See the World with the TECNO AI Glasses Series
TECNO’s new AI Glasses Series also took center stage with the introduction of TECNO AI Glasses Pro and TECNO AI Glasses, reimagining eyewear with cutting-edge imaging, intelligent interactions, and a sleek aesthetic. The TECNO AI Glasses feature an aviator design, while the Pro model showcases a browline style, both embodying timeless elegance and modern fashion.
TECNO AI Glasses Redefine the Way People See the Future
Equipped with a 50MP high-definition camera, the series integrates an OV50D sensor, a 100° ultra-wide-angle custom lens, and an AI ISP imaging chip, forming a mobile-grade imaging system. This system lets users capture stunning, high-resolution photos with advanced AI noise reduction and HDR capabilities. With real-time translation supporting over 100 languages, TECNO AI’s Ella empowers accurate translation even for less common languages, as well as voice control, AI-powered object recognition, and intelligent information summaries for ultimate convenience.
Additionally, the AI Glasses Pro features a MicroLED display with 7th-gen resin waveguide technology, offering a 30° field of view, over 1,500 nits of brightness AR display, and a lightweight, ultra-thin design. The AR display allows users to effortlessly enjoy features like translation display, navigation, information prompts, and teleprompting.
Equipped with a 250mAh battery, these glasses offer over 11 hours of music playback and 8 hours of mixed use with just 30 minutes of charging. An advanced ultra-linear speaker, bass enhancement, and spatial sound deliver an immersive audio experience, while Wi-Fi 6 and Bluetooth 5.4 ensure seamless connectivity.
With these innovative launches, TECNO is setting new standards in mobile imaging and AI-enhanced technology, shaping a more connected and empowered future for consumers in emerging markets. Once again, TECNO has showcased its cutting-edge innovation on the global stage at MWC. With the brand essence of “Stop at Nothing”, TECNO’s relentless pursuit of innovation is making AI-powered technology more accessible, allowing consumers to experience the future ahead of time.
Solomon Obwot is a tech writer based in Kampala, Uganda, with extensive experience in the local tech startup ecosystem. He covers the latest news and analysis on consumer tech, writes in-depth smartphone reviews, and conducts insightful interviews with industry experts. Solomon is also a passionate podcaster, sharing his knowledge and engaging in discussions about Africa’s rapidly growing tech landscape. Send emails to [email protected]
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The local music industry has seen a surge in growth in recent years. At one time, Ugandans used to listen and enjoy Western and Congolese music until suddenly local artists realized their potential and tapped into the local market. The industry, however, continues to to struggle with copyright issues, marketing and distribution of of their content. But websites such as WeMix Ent. are vowing to change that. Below is an interview Mwesigwa Daniel of the TechPost(Now Dignited) had with Amos Nsereko one of the ‘big-fam’ WeMix members.
Give us a brief introduction about WeMix Ent:
WeMix Ent was setup to thrive on the mystery of discovery of cool unique un-heard of Gospel music, videos, to promote artistes whose talents and gifts are not fully exposed, to introduce to society a sound that it worth a listen , to give artistes and industry players a platform to let out their music and interact seamlessly with both their listeners and prospective listeners and as well as to interact with promoters.
What are some of the features on the site?
The site has amazing features such as; 1.Information on latest happenings in entertainment like music award ceremonies, musical events, music & video releases 2. Latest videos and singles, and video interviews. 3. Free music and video downloads 4. Interaction through an organized commenting system. 5. WePic; a picture and video sharing page to showcase pictures and videos from events 6. Advertising slots for upcoming albums and other entertainment events 7. Music, Movies & Video reviews 8. Artiste profiles
Do you plans of reaching more people through mobile?
Yes, we have the plans, in the nearby future we should be doing something for Android and Apple related products.
What are some the challenges you have as a start-up?
Whenever one is starting up a business, you think through the costs and profitability of the business, we have thought about it and we know it’s not a very easy thing to wake up and do. It will take sacrifice on our side. All we have to do is create a desire in advertisers to come on board, we have set up tools to help us monitor our site’s reach and these analytics should help us attract advertisers. We understand people like to spend where they benefit, so we are going to make the “how they benefit” part to be at the centre of all that we do, how? Market the site radically, continue to update and maintain the site regularly and keep it entertaining generally.
“ The beginning is quite humble, we are going to provide free packages to artistes and help them market their content at no charge at all, create a buzz for events at no charge at all and a whole bunch of other things but after a certain period of time”
How are you approaching Copyright issues?
“ Copyrights…anyone who has dealt with WeMix Ent will understand that we respect copyright owners. Permission has to be sought from copyright owners, hence whatever content that will be featuring on the site will have been approved by the owners.”
Daniel Mwesigwa is a curious mind at the intersection of technology, media, and politics. Passionate about emerging trends and critical thinking, he’s known for cutting through noise—calling out conspiracy theories when they don’t hold up. When he’s not writing or analyzing the digital world, Daniel enjoys listening to music and playing soccer.
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