Dubbed ‘Uganda’s startup Capital’, enStartup has released the local investment report for last year. The technology company has been tracking startups to better understand the startup culture and how it impacts the investment behavior in Uganda.
Overall, 167 startups were able to raise $13,471,000 in 2017. Startups in Off-Grid Tech/Energy, FinTech and health related sector gave an account of the most deals in terms of value while startups in the health, Agriculture and energy sector gave an account of the most deals in numbers.
Many startups were able to raise investment in Q1, with over 90 of them raising funds followed by Q2 and later falling to less than a half of those in Q1. Only 20 startups raised funding in the last Quarter while 19 of them were able to raise funding in the 3rd Quarter.
The report also dives into startups with a female as a founder or co-founder, showcases the need for a smarter funding ecosystem and how mainly how we can fill the available gap and advance the ecosystem. The report also tries to ‘cut through the noise around e-health applications’ constantly enjoying a global acclaim and finally, a deeper understanding of the startups founded in 2017.