2016 has been a wonderful year for major startups in Nigeria who are keen to solving a specific problem within their niche.
Their efforts and contribution towards solving different issues have prompted investors to key into their dreams and visions. Investors have showered a whole lot of them with a whopping sum of money to help achieve their goals and also to improve their platforms and also staff acquisition.
Below are the 5 notable startups that raise $1million in 2016 – some raised more than $1million in their series A funding.
Hotels.ng secured an investment of $10 million from the Dangote Investment Group (DIG) and also $1.2 million it got from international investors EchoVC and Omidyar Network.
Printivo closed a six-figure funding round from early-stage technology venture capital firm EchoVC Partners, which it plans to use to expand its product range, grow its staff, accelerate customer acquisition and scale the business.
ToLet.com.ng raised a $1.2 million Series A round of funding from Frontier Digital Ventures.
Paystack secured $1.3M Seed investment from both international and homegrown investors.
The investors include Tencent, Comcast Ventures and Singularity Investments, with participation from Spark, M&S Partners, Tokyo Founders Fund, Blue Rinc Capital, Pave Investments, KIBS-CFY Partners, Michael Siebel, Justin Kan, Olumide Soyombo, Leonard Stiegeler and a number of Angels.
5. Adpump Ng (S&T Media)
S&T Media secured $1million from an early-stage technology venture capital firm, EchoVC Partner to invest in expansion, product development, and hardware/staff acquisition.