A decade ago, Africa’s startup ecosystem looked very different.
In 2016, African startups raised about $327 million in venture funding. The ecosystem was smaller, the cheques were different, the playbook was still being written, and many of the companies we now think of as part of Africa’s tech story were only getting started.
Ten years later, the landscape has changed dramatically.
So, what happened to the companies that helped build that early ecosystem? Which ones survived? Which ones evolved? Which ones disappeared? And what did it take for the ones still standing to make it through a decade of changing markets, funding cycles, regulations, competition, and shifting ideas of what it means to build in Africa?
That’s what TechCabal’s Class of 2016 is going back to find out.
Over the coming weeks, we’ll revisit the African startups that were building in 2016, trace where they are today, and speak to some of the founders, operators, and early backers who were there when it all began.