The African markets have seen a rise in startups this year. These startups have been making waves in the African market. I’m thrilled to look into some of the profitable startups you should look out for in 2022.
Keep reading this resource to see the top 8 African startups that are predicted to become well known in 2022.
How did I choose this 8?
For this list, I have chosen potential startups that are expected to make disruptive growth in their industry. This list furthermore was collated on the solutions, growth, and funding of these startups.
These are top African startups you should watch out for, as they may become household names and also become known all over the world.
The top 8 African startups to Watch
Suplias is a B2B company that was founded in 2019. They are focused on connecting wholesalers and retailers in Africa. This African startup assists retail outlets to buy goods from wholesalers across the continent. For a company that was just launched in 2019, it has received a lot of attention.
With Suplias, retailers could get varieties of goods delivered to them fast. The company stands out with its next-day delivery feature. Retailers could quickly restock their goods through their mobile app and receive them the next day.
Since it was launched, this company has seen incredible growth. The company has attracted investors to itself. It currently has 4 disclosed investors. Atacama ventures and Soma capital are suplias recent investors. It announced in August 2021, a total investment of $125k seed round. Y combination and Future Africa are suplias major investors.
With its recent activities, Supplias is surely one of the African startups to watch out for in 2022.
Mecho Autotech Ltd
This is a high-growth startup that was launched in 2021. The company has developed an on-demand auto-repair service for businesses and individuals. With Mecho Autotech you could quickly connect to a certified auto technician to fix your vehicle. With the company’s platform, you could sign up or register to schedule maintenance for your vehicle. After you register you would be paired with a certified technician for seamless repairs and maintenance.
For a company that was launched in 2021, it has 5 investors and has raised over $500k in the pre-seed round. Mecho’s investors include; Ycombinator, tekedia capital, acuity venture partners, cathexis ventures, and ingressive capital.
With the way they are going, it is a great African startup you should keep your attention on.
In August 2021, Infiuss disclosed an investment received at its pre-seed stage. Currently, it has two major investors with a total of $125k. Infiuss raised their fundings from Patrick Spaulding Ryan, PhD, and Ycombinator. They were amongst the second batch of startups Ycombinator selected in 2021 for investment.
Infiuss has experienced rapid growth since its launch in 2016. The startup is changing the health tech industry. They centre on connecting clinical researchers to ready and willing participants. This has made research in the health sector easier. They are also creating smooth access for clinicians to screen, engage, treat, and follow up on patients.
Yemaachi Biotechnology (Ghana)
Yemaachi is one of the startups selected by Ycombinator for the second batch of funding in 2021. The company which is situated in Accra, Ghana was launched in 2020. Yemaachi is a biotechnology startup that centers on providing accurate cancer precision and treatment. The startup is leveraging Africa’s genetically diverse population for its research activities. Doing this, they can sequence samples to optimize diagnostic tests or bring out new ones. All in all, it lowers the economic burden of cancer detection using artificial intelligence.
As mentioned earlier, Ycombinator selected Yemaachi for funding. This led to the startup raising $125k in the pre-seed round.
This innovation is set to disrupt the health tech industry. More reasons why you should pay attention to this startup in 2022.
Getting insurance normally takes an average of 3 to 6 weeks. Then, amenli comes in to make the process easier. With Amenli, you could get insurance in 10 minutes. They allow users to get a quote and buy insurance within minutes. Amenli is the first approved online insurance brokerage in Egypt.
Importantly, Amenli was selected to be part of the 11 African startups to receive funding from YCombinator. They also received $2.3m in the seed round of funding. This totals Amenli funding at $2450000.
Abeg app is the Nigeria fintech that aims at financial inclusion. The platform features a peer-to-peer technology that allows Nigerians to send and receive money amongst themselves. Following its recent sponsorship with BBN (big brother Nigeria). The startup has been estimated to have increased its active users. Inclusiontimes has an estimated 400,000 active users. They also calculated that the sponsorship would have yielded $6m in revenue.
Abeg app has not conducted any round of funding. They have also not disclosed their investors. However, they are expected to conduct a round of funding in 2022, due to the spike of active users.
Definely is a legal-tech startup that is making the lawyer documentation process easier. They created a plugin to help lawyers collaborate, check definitions of legal terms, and also work on legal documents seamlessly. To top it off, this startup was recently recognized by KPMG as the most promising mature business in 2021.
Definely was among the 30 recipients of the Google for startups black founders fund. They were selected out of 800 startups to receive £2m in funding. In addition to this, Microsoft M12 led another seed round of funding alongside CRE ventures. This led to a total of £2.2m seed + funding. In June 2021 the company investments totalled £3.4m.
With the speed of growth, this African startup is also expected to receive more funding. To put, the startup was able to onboard Denton (the world’s largest legal firm) alongside other major companies to the product.
Concerning that, the company has been recognized for innovation and growth, they should be on your watch list.
Getting a car is considered a luxury in Nigeria. This is the same in other African countries, where people recycle used cars among themselves. Moove decided to create a solution where normal people could easily rent or buy a new car. They intend to give users the thrill of driving in a brand new car.
Currently, Moove partners with Uber to provide hailing and renting services for drivers. However, Moove combines transportation and fintech. It does this by providing financial services for transporters.
Moove has recently conducted 3 funding rounds with about 18 investors. A more recent debt financing fund in August 2021 allowed them to raise $23m. These rounds of investment led to total funding of $64m.
The list above has predicted the top 8 African startups that you should watch out for in 2022. These startups were considered based on their recent innovations and fundings.
Now, let’s hear from you!
Are there any African startups that you were expecting to see?
What do you think about the above-mentioned?
Share your thoughts in the comment section.