BotswanaStartup and Funding

Botswana Startups Raised Only $100,000 In Venture Funding In 2022

1 Mins read

Botswana Startups Raised Only $100,000 In Venture Funding In 2022

According to venture funding tracking platform Africa: The Big Deal, Botswana startups only raised $100,000 in venture funding in 2022.

Although it is not stated which startups attracted the investment, it is most likely Brastorne Enterprises’ $100,000 equity free funding they received from Google as part of being accepted into the Google Black Founders Fund Africa program.

Funding raised by startups in Southern Africa in 2022

For context, South Africa received the most funding on the region at $555 million, followed by Zambia and Namibia at $15 million, Zimbabwe at $2 million, Mozambique at $125,000 and Botswana at $100,000.

Despite this being an improvement from previous years, Botswana’s amount of capital raised is a pittance relative to neighbours South Africa, Zambia and Namibia and could be seen as a cause of concern for the country’s tech innovation industry.

Venture capital is a vital driver for startups who most often cannot access traditional capital facilities like banks as they are very high risk ventures, something commercial banks are not averse to.

Source: Bwtechzone

Related posts
Startup and Funding

Investing in African tech start-ups key to continent’s growth

3 Mins read
Investing in African tech start-ups key to continent’s growth AfricArena should be celebrated for its efforts to grow the African tech ecosystem,…
AfricaStartup and Funding

African start-up founders can apply to join Stanford Seed

2 Mins read
African start-up founders can apply to join Stanford Seed Seed, a Stanford Graduate School of Business-led initiative, has renewed its collaboration with…
NigeriaStartup and Funding

Nigerian Fluidcoins sold to UAE-based Blockfinex after failing to raise cash

3 Mins read
Nigerian Fluidcoins sold to UAE-based Blockfinex after failing to raise cash Blockfinex, a Barbados and Seychelles-registered crypto exchange company, has acquired a…

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!