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1. TRACXN MONTHLY REPORT
JANUARY 2021
AFRICA TECH

2. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Africa Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1 year 8
New Analyst Picks 9
Acquisitions 10
Recent News 11

3. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Africa Tech Snapshot – January 2021
Africa Tech: Snapshot – January 2021
Note : "Investors" refers to "Institutional Investors" only
3
$17.4M
1
Overall Geo Stats
9
1
20
8
11
Funding Rounds $ Invested Analyst Picks
uLesson Upgraded
to MINICORN
New Investors
LocalGlobe
tsadik
Series A+ rounds Active Investors IPOs Acquisitions
VAS-X#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Cairo
(2 Rounds, $300K)
Accra
(1 Rounds, $700K)
Alexandria
(1 Rounds, $700K)
Cape Town
(1 Rounds, $700K)
$7.5M - Series A
uLesson (2019, Lekki, $10.6M)
$4.3M - Seed
Opal (2020, , $4.3M)
$3M - Seed
CowryWise (2017, Lagos, $3.2M)
$1M - Seed
Cassbana (2020, , $1M)
AUC
(2 Investments)
Speedinvest
(1 Investments)
Founder Collective
(1 Investments)
ISAI Gestion
(1 Investments)
K-12 EdTech
uLesson
Productivity Software
Opal
Investment Tech
CowryWise
Alternative Lending
Cassbana
Market Size
Companies Covered 14,325
Funded Companies 1,979
Total Funding $6.2B
Funding in last 12 months $535M
Top Exits
IPOs 36
Acquisitions 219
Company Stage
Unicorns -
Soonicorns 12
Minicorns 84
Editor Picks 753
Series A+ 274
Series C+ 76
Acqui-Hires 4
Deadpooled 1,647
Top Cities
Cape Town (251 Rounds, $683M)
Lagos (232 Rounds, $1.2B)
Top Investors
Flat6Labs Cairo (59 Investments)
Y Combinator (32 Investments)

4. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Africa Tech as of January 2021
Africa Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (January 2021)*
uLesson
(2019, Lekki, $10.6M)
$7.5M - Series A Owl Ventures
Opal
(2020, , $4.3M)
$4.3M - Seed Nicolas Wittenborn
CowryWise
(2017, Lagos, $3.2M)
$3.0M - Seed Quona Capital
Cassbana
(2020, , $1.0M)
$1.0M - Seed
OZE
(2016, Accra, $700K)
$700K - Seed Anorak Ventures
Odiggo
(2017, Nasr, $780K)
$600K - Seed Essa Al- Saleh
OPIO
(2017, Cairo, $300K)
$300K - Seed AUC
*Shows only the lead Investors

5. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Africa Tech in January 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
EARLY STAGE
$7.5M - Series A
uLesson (2019, Lekki, $10.6M)
Provider of online learning platform for school
students
Owl Ventures, Founder Collective, TLcom Capital
Partners, LocalGlobe
SEED STAGE
$300.0K - Seed
OPIO (2017, Cairo, $300.0K)
Internet-first brand offering apparel for women
AUC, Flat6Labs Cairo
SEED STAGE
$600.0K - Seed
Odiggo (2017, Nasr, $780.0K)
Online marketplace for auto parts & accessories
Essa Al- Saleh
SEED STAGE
$700.0K - Seed
OZE (2016, Accra, $700.0K)
Cloud-based business insights software for
entrepreneurs and small businesses
Anorak Ventures, Rising Tide Africa, Ingressive Capital,
MEST, Matuca Sarl
SEED STAGE
$1.0M - Seed
Cassbana (2020, , $1.0M)
AI-driven behavior-based credit scoring solution for
individuals and businesses
SEED STAGE
$3.0M - Seed
CowryWise (2017, Lagos, $3.2M)
Online savings platform
Quona Capital, tsadik, Sahil Lavingia
SEED STAGE
$4.3M - Seed
Opal (2020, , $4.3M)
Provider of a smartphone addiction management app
Secocha Ventures, ISAI Gestion, Speedinvest, Nicolas
Wittenborn, Harry Stebbings, and 6 more
SEED STAGE
Seed
OVEX (2017, Cape Town)
Cryptocurrency exchange
Alameda Research
SEED STAGE
Angel
Isqan (2020, Cairo)
Online listing platform for residential and commercial
properties
Mohamed Gaballah

6. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Africa Tech in January 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
SEED STAGE
Seed
Tayary (2016, Alexandria)
Online platform for food ordering and delivery
AUC, Cairo Angels, Alexandria Angels
SEED STAGE
Seed
Akhdar (2016, Mansoura)
Online platform offering books in audio format
EdVentures

7. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Africa Tech in January 2021
Africa Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
LocalGlobe
141 portfolio companies | Seed centric tech-focused VC firm investing primarily
in Europe and the US
uLesson
Provider of online learning platform for school students
$7.50M Series A
tsadik
1 portfolio companies | HOME | tsadik
CowryWise
Online savings platform
$3.00M Seed
ISAI Gestion
78 portfolio companies | Tech focused seed stage micro VC firm investing in
France
Opal
Provider of a smartphone addiction management app
$4.30M Seed
Rising Tide Africa
1 portfolio companies | Women angel group
OZE
Cloud-based business insights software for entrepreneurs and small
businesses
$700K Seed
Secocha Ventures
12 portfolio companies | Early-stage VC firm
Opal
Provider of a smartphone addiction management app
$4.30M Seed
Alameda Research
17 portfolio companies | Online trading platform for cryptocurrencies
OVEX
Cryptocurrency exchange
Undisclosed Seed
Owl Ventures
44 portfolio companies | US focused venture capital firm
uLesson
Provider of online learning platform for school students
$7.50M Series A
Anorak Ventures
23 portfolio companies | Early-stage tech-focused VC firm investing primarily in
the US
OZE
Cloud-based business insights software for entrepreneurs and small
businesses
$700K Seed
disruptechventures.com
1 portfolio companies |
Cassbana
AI-driven behavior-based credit scoring solution for individuals and
businesses
$1.00M Seed

8. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Mobile Banking Software $107M 2 Jumo | $55.0M | Series C
2 --
Alternative Lending > Online Lenders > Diversified >
Marketplace
$107M 2 Jumo | $55.0M | Series C
3 -- Cryptocurrency Exchanges $25.0M 4 Bitfxt | $15.0M | Series A
4 ▲33 Agriculture Drones $22.5M 2 Aerobotics | $17.0M | Series B
5 ▼-2
Road Transport Tech > Mass Transit > Shuttle >
Aggregator
$20.3M 2 Swvl | $20.0M | Series C
6 ▲9 Pharmacy IT > Pharmacy Management Systems $18.5M 1 mPharma | $18.5M | Series B
7 --
B2B E-Commerce > Technology Enablers > Backend >
Management Software > Order & Inventory
Management
$18.0M 1 Sokowatch | $18.0M | Series A
8 ▲57 ERP for Offline Retailers $18.0M 1 Sokowatch | $18.0M | Series A
9 -- ERP for SMBs $16.7M 1 Zagace | $16.7M | Seed
10 ▲17 Biotech R&D > Services and Enablers > Biorepository $15.0M 1 54gene | $15.0M | Series A

9. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Africa Tech in January 2021
Africa Tech: Analyst Picks
9
Upgraded to MINICORN
uLesson (2019, Lekki, $7.5M, Series A)
Provider of online learning platform for school
students
TLcom Capital Partners, Owl Ventures, Founder
Collective and 1 other Investors
Upgraded to MINICORN
Opal (2020, , $4.3M, Seed)
Provider of a smartphone addiction management app
Kevin Carter, Nicolas Wittenborn, Harry Stebbings and
8 other Investors
Added to Editor's Pick
OZE (2016, Accra, $700K, Seed)
Cloud-based business insights software for
entrepreneurs and small businesses
Inclusive Fintech 50, Catapult, MEST and 5 other
Investors
Added to Editor's Pick
Capsule (2015, Nairobi, $5.9M, Series A)
Provider of ambulance booking platform for
emergency services
Merckand
Added to Editor's Pick
Bwala (2019, Nairobi, $226K, Conventional Debt)
Provider of delivery app for retailers & manufacturers
Justin Caldbeck,Stanbic Bank,Founders Factory
Africaand
Added to Editor's Pick
Cassbana (2020, , $1.0M, Seed)
AI-driven behavior-based credit scoring solution for
individuals and businesses
Added to Editor's Pick
HST (1996, Cairo, Unfunded)
Provider of multiple physical security systems
Added to Editor's Pick
Porkfund (2020, Lagos, Unfunded)
Online crowdfunding platform for pig farming

10. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Africa Tech in January 2021
Africa Tech: Acquisitions
10
Acq. Date Company Acquirer Deal Size
28 Jan 2021
VAS-X(1999, Fourways)
Billing and Value added services
Volaris Group Inc

11. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Africa Tech in January 2021
Africa Tech:News
11
People News
.
● 9mobile announces management appointments Africa Business Communities

12. Africa Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Africa Tech on Tracxn Platform
Africa Tech: Explore more on Tracxn Platform
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Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Africa
AI Companies in Africa
Fintech Companies Africa
Consumer Digital in Africa
Company Due Diligence
Detailed profile of
Competitors of
Cap Tables of
Investment Activity
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Investors
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Exits
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