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1. TRACXN MONTHLY REPORT
DECEMBER 2020
AFRICA TECH

2. Africa Tech - December 2020 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 9
New Analyst Picks 10
Acquisitions 12
Recent News 13

3. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Africa Tech Snapshot – December 2020
Africa Tech: Snapshot – December 2020
Note : "Investors" refers to "Institutional Investors" only
3
$31.8M
7
Overall Geo Stats
17
333
1519
Funding Rounds $ Invested Analyst Picks
SunCulture
Upgraded to
MINICORN
New Investors
zedcrest.com
ShEquity
Series A+ rounds Active Investors IPOs Acquisitions
YouMe&Co#@
Globeflight#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Nairobi
(5 Rounds, $26.8M)
Cape Town
(5 Rounds, $26.8M)
Ikeja
(2 Rounds, $2.5M)
Cairo
(2 Rounds, $2.5M)
$14M - Series B
SunCulture (2012, Nairobi, $14.2M)
$5.9M - Series A
Capsule (2015, Nairobi, $6.0M)
$3.6M - Series A
Apollo Agriculture (2016, Nairobi,
$17.8M)
$3.4M - Series A
Turaco (2019, Nairobi, $6.6M)
Y Combinator
(1 Investments)
FMO
(1 Investments)
Techstars
(1 Investments)
ACE and Company
(1 Investments)
Crop Tech
SunCulture
Renewable Energy Tech
Water and Wastewater
Management Tech
Healthcare Booking Platforms
Capsule
Market Size
Companies Covered 13,869
Funded Companies 1,941
Total Funding $6.0B
Funding in last 12 months $522M
Top Exits
IPOs 36
Acquisitions 215
Company Stage
Unicorns -
Soonicorns 12
Minicorns 82
Editor Picks 743
Series A+ 269
Series C+ 74
Acqui-Hires 4
Deadpooled 1,643
Top Cities
Cape Town (250 Rounds, $666M)
Lagos (227 Rounds, $1.1B)
Top Investors
Flat6Labs Cairo (58 Investments)
Y Combinator (32 Investments)

4. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Africa Tech as of December 2020
Africa Tech: Investment Snapshot
4
# Rounds$ Funding
Investment Trend Top Investments (December 2020)*
SunCulture
(2012, Nairobi, $14.2M)
$14.0M - Series B Energy Access Ventures
Capsule
(2015, Nairobi, $6.0M)
$5.9M - Series A
Apollo Agriculture
(2016, Nairobi, $17.8M)
$3.6M - Series A
Turaco
(2019, Nairobi, $6.6M)
$3.4M - Series A
Plaqad
(2017, Ikeja, $1.5M)
$1.5M - Seed
Credpal
(2017, Lagos, $1.5M)
$1.5M - Seed Y Combinator
OnePipe
(2018, Ikeja, $1.1M)
$950K - Seed Sherpa Capital
ZeePay
(2014, Accra, $1.2M)
$940K - Seed GOODsoil
LetMeIn
(2020, Johannesburg, $143K)
$143K - Seed
*Shows only the lead Investors

5. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Africa Tech in December 2020
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
PE
Vermeg (2002, Tunis)
Global STP solutions for the securities processing
industry
Charterhouse Capital Partners
EARLY STAGE
$3.4M - Series A
Turaco (2019, Nairobi, $6.6M)
Online micro health insurance platform for individuals
EARLY STAGE
$3.6M - Series A
Apollo Agriculture (2016, Nairobi, $17.8M)
Online marketplace for farm loans
EARLY STAGE
$5.9M - Series A
Capsule (2015, Nairobi, $6.0M)
Provider of ambulance booking platform for
emergency services
EARLY STAGE
$14.0M - Series B
SunCulture (2012, Nairobi, $14.2M)
Developer of solar powered smart irrigation systems
Energy Access Ventures, EDF, Acumen Capital, Dream
Project Incubators
EARLY STAGE
Series A
Dsquares (2012, Cairo)
Loyalty program management solution
Lorax Capital Partners
EARLY STAGE
Series B
Aerobotics (2014, Cape Town, $16.5M)
Provider of drone based farm monitoring and pest
management solutions
Cathay Innovation, Africinvest, FMO
SEED STAGE
$143.4K - Seed
LetMeIn (2020, Johannesburg, $143.4K)
SaaS-driven visitor management software for offices
and apartments
SEED STAGE
$940.0K - Seed
ZeePay (2014, Accra, $1.2M)
Mobile wallet and remittance platform
GOODsoil
SEED STAGE
$950.0K - Seed
OnePipe (2018, Ikeja, $1.1M)
Payment gateway solutions
Sherpa Capital, Techstars, The Raba Partnership,
Ingressive Capital, Future Perfect Ventures, and 10
more

6. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Africa Tech in December 2020
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
$1.5M - Seed
Credpal (2017, Lagos, $1.5M)
Credit card provider
Y Combinator, GreenHouse Capital, Tangerine Life
SEED STAGE
$1.5M - Seed
Plaqad (2017, Ikeja, $1.5M)
Cloud-based Influencer marketplace solutions provider
SEED STAGE
Seed
Flutter (2010, )
App-based platform offering dating and matchmaking
platform for Nigerians
Lagos Angel Network, SSE Angel Network
SEED STAGE
Seed
Indicina Technologies (2017, Lagos, $250.0K)
Credit risk management solution provider
Acuity, Itanna, Future Africa, Kepple Africa Ventures
SEED STAGE
Seed
Superfluid Labs (2015, Nairobi)
AI-based customer data intelligence platform
ShEquity
SEED STAGE
Seed
Clinido (2018, Assiut)
Provider of an online doctor listing platform for
multiple diseases
SEED STAGE
Seed
Source Beauty (2016, Cairo)
Online retailer offering beauty products
ACE and Company
SEED STAGE
Seed
Cultura Fresh (2016, Cape Town)
Producer and supplier of hydroponic vegetables
Secha Capital
SEED STAGE
Seed
LocumBase (2016, Cape Town, $40.0K)
Platform for doctors to search for locum jobs
Squared, Jozi Angels

7. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Africa Tech in December 2020
Africa Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
zedcrest.com
2 portfolio companies |
OnePipe
Payment gateway solutions
$950K Seed
ShEquity
2 portfolio companies | Venture capital fund investing in multiple sectors
Superfluid Labs
AI-based customer data intelligence platform
Undisclosed Seed
ACE and Company
45 portfolio companies | Private equity investment firm based out of
Switzerland
Source Beauty
Online retailer offering beauty products
Undisclosed Seed
Acuity
1 portfolio companies | Mutual P&C insurance company
Indicina Technologies
Credit risk management solution provider
Undisclosed Seed
Acumen Capital
3 portfolio companies | Boutique investment advisory firm
SunCulture
Developer of solar powered smart irrigation systems
$14.00M Series B
Charterhouse Capital Partners
2 portfolio companies | Private equity investment firm based out of UK
Vermeg
Global STP solutions for the securities processing industry
Undisclosed PE
GreenHouse Capital
2 portfolio companies | Early stage investments focused VC firm operating
across Africa
Credpal
Credit card provider
$1.50M Seed
Cathay Innovation
66 portfolio companies | Early-stage tech-focused VC firm investing in
geographies such as North America, Europe and China
Aerobotics
Provider of drone based farm monitoring and pest management
solutions
Undisclosed Series B
Jozi Angels
1 portfolio companies | Angel Network for Johannesburg based companies
LocumBase
Platform for doctors to search for locum jobs
Undisclosed Seed
Secha Capital
2 portfolio companies | Venture capital fund focused on social impact
enterprises in Africa
Cultura Fresh
Producer and supplier of hydroponic vegetables
Undisclosed Seed

8. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Africa Tech in December 2020
Africa Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
Tangerine Life
1 portfolio companies | Tangerine Life
Credpal
Credit card provider
$1.50M Seed
GOODsoil
1 portfolio companies | Home - GOODsoil VC
ZeePay
Mobile wallet and remittance platform
$940K Seed
Dream Project Incubators
2 portfolio companies | Developer of solar energy projects
SunCulture
Developer of solar powered smart irrigation systems
$14.00M Series B
Squared
1 portfolio companies | Empowering High Impact Entrepreneurs | Impact
Partner - E-Squared
LocumBase
Platform for doctors to search for locum jobs
Undisclosed Seed
Sherpa Capital
70 portfolio companies | Venture capital firm investing in multiple sectors
OnePipe
Payment gateway solutions
$950K Seed
Lorax Capital Partners
1 portfolio companies | Private equity firm focused on multiple sectors
Dsquares
Loyalty program management solution
Undisclosed Series A
Future Africa
2 portfolio companies | Venture capital firm investing in multiple sectors
Indicina Technologies
Credit risk management solution provider
Undisclosed Seed

9. Africa Tech - December 2020 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.
9
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Mobile Banking Software $107M 2 Jumo | $55.0M | Series C
2 -- Internet First Personal Loans Marketplace $107M 2 Jumo | $55.0M | Series C
3 --
Field Force Automation > Multi-Industry > Applications >
Sales > Field Sales Management
$30.6M 3 Skynamo | $30.1M | Series A
4 -- Cryptocurrency Exchanges $25.0M 3 Bitfxt | $15.0M | Series A
5 ▼-2
Road Transport Tech > Mass Transit > Shuttle >
Aggregator
$20.3M 2 Swvl | $20.0M | Series C
6 ▲25 B2C Hyperlocal Delivery $20.1M 4 Sendy | $20.0M | Series B
7 ▲2 Pharmacy IT > Pharmacy Management Systems $18.5M 1 mPharma | $18.5M | Series B
8 ▲21
B2B E-Commerce > Technology Enablers > Backend >
Management Software > Order & Inventory
Management
$18.0M 1 Sokowatch | $18.0M | Series A
9 ▲18 ERP for Offline Retailers $18.0M 1 Sokowatch | $18.0M | Series A
10 -- ERP for SMBs $16.7M 1 Zagace | $16.7M | Seed

10. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Africa Tech in December 2020
Africa Tech: Analyst Picks
10
Upgraded to MINICORN
SunCulture (2012, Nairobi, $14.0M, Series B)
Developer of solar powered smart irrigation systems
Partners Group, Aster Capital, PG Impact Investments
and 5 other Investors
Upgraded to MINICORN
Turaco (2019, Nairobi, $2.0M, Seed)
Online micro health insurance platform for individuals
Zephyr Peacock, Novastar Ventures, Musha Ventures
and 3 other Investors
Added to Editor's Pick
Superfluid Labs (2015, Nairobi, Undisclosed, Seed)
AI-based customer data intelligence platform
ShEquity, GreenTec Capital, DBS Accelerator and 1
other Investors
Added to Editor's Pick
DentaCarts (2016, Cairo, $450K, Seed)
Online distributor of dental products
Asia Africa Investment and Consulting, Wadi Makkah,
500 Startups and 1 other Investors
Added to Editor's Pick
ZeePay (2014, Accra, $940K, Seed)
Mobile wallet and remittance platform
GOODsoiland
Added to Editor's Pick
Cathexis Technologies (1999, Durban, Unfunded)
Provider of video management software for IP cameras
Added to Editor's Pick
AgriLED (2018, Cape Town, $569K, Seed)
Provider of sustainable off-grid food security solution
Hivos Impact Investmentsand
Added to Editor's Pick
OneSpark (2020, Illovo Beach, Undisclosed, Seed)
Online insurance platform for individuals
Added to Editor's Pick
Immobazyme (2019, Stellenbosch, Unfunded)
Developer of enzyme immobilisation technology
LaunchLaband
Added to Editor's Pick
Centavestng (2020, Ikeja, Unfunded)
Alternative investment platform focused on multiple
sectors

11. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Africa Tech in December 2020
Africa Tech: Analyst Picks
11
Added to Editor's Pick
Whive (2019, Nairobi, Unfunded)
Decentralized autonomous organization
Added to Editor's Pick
SafeDemat (2012, Rabat, Unfunded)
Secure authentication and encryption solutions
provider
212 Foundersand
Added to Editor's Pick
Kudoti (2018, Johannesburg, Unfunded)
Offering software solutions for waste management
ClimateLaunchpadand
Added to Editor's Pick
DanfoGol Express (2015, Ibadan, Unfunded)
Provider of multi-modal transportation services
Added to Editor's Pick
PapsAI (2018, Unfunded)
Provider of an AI-based cervical cancer diagnosis and
management software for healthcare professionals

12. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Africa Tech in December 2020
Africa Tech: Acquisitions
12
Acq. Date Company Acquirer Deal Size
03 Dec 2020
YouMe&Co(2012, Cape Town)
Platform for production and agency management in Film & TV
sector
SYNGENCY
04 Dec 2020
Globeflight(1998, Johannesburg)
Provider of courier delivery services
DSV
22 Dec 2020
MineRP(1997, Johannesburg)
Data management platform for the mining industry
Epiroc

13. Africa Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Africa Tech in December 2020
Africa Tech:News
13
Exit News
.
● Zameen Group acquires the largest property portal of Morocco TechJuice
.
● Fintech firm Ukheshe buys payments provider Oltio ITWeb
.
● Conduit joins London market with £826mln IPO Proactive Investors
.
● Epiroc Acquires Mining Software Company Construction Equipment
.
● Bottles officially launches with Pick n Pay Ventureburn
.
● Ground-breaking African fintech deal led by ICON Corporate Finance Bristol
Business
.
Company News
.
● Egypt’s Trella expands its trucking marketplace to Pakistan MENAbytes

14. Africa Tech - December 2020 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
14
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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
Recent Investments
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Investors
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Exits
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