Funding for African startups: Details show how billions are bringing ideas to life

Funding for African startups: Details show how billions are bringing ideas to life

- In the year 2019, three startups in Africa received funding for their business to the tune of $1 billion

- The startups have been identified as Partech Ventures, WeeTracker and Briter Bridges

- In the second half of the year 2019, Chinese investors in African startup tech space have invested about $400 million

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Year in, year out, entrepreneurs start businesses with the motive of creating enterprises for the purpose of making profit, as well as other benefits.

In the year 2019, three African startups, Partech Ventures, WeeTracker and Briter Bridges, all received funding to the tune of over $1 billion.

Information available shows that such businesses, especially those from Nigeria and Kenya, continue to rise.

Funding for African startups: Details show how billions are bringing ideas to life

Source: qz.com
Source: UGC

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Per a report by qz.com, the arrival of the Chinese into African businesses changed the game for some of the startups.

Funding comes in several types and the differences rest with the methodology which is adopted by the research teams.

As the appetite for investors with respect to African startups grows by the day, new players are opening their purses to fund such enterprises. In the year 2019, over 20 Africa-focused funders set up shop.

In the second half of the same year, Chinese investors in Africa’s tech space pumped around $400 million and it has been speculated that the amount could shoot up to about $1 billion.

In other news, some Tesla employees have opened up about six features of cars produced that buyers may be ignorant of.

The workers revealed that Tesla cars have unique features in terms of production quality, regenerative braking, and durability.

Those interviewed, numbering five, who are both present and former workers, opened up to Business Insider.

According to them, one cardinal feature present in Tesla cars is durability.

A former salesperson stated that "Teslas are made to last a long time." Another characteristic of Tesla cars is their ability to teach users about how to use the car.

A current salesperson noted that there are tutorials available to educate users.

Again, Tesla’s website has accurate information to assist a potential user conduct research before they take delivery of the car.

A fourth advantage has to do with the delivery timelines on Tesla’s website.

A former salesperson revealed that Tesla’s cars are always ready whenever the company says they will be ready.

There is an urgent need to turn off regenerative braking once a week, a former service manager revealed.

The reason, it is believed, is because using the brakes cleans them and extends their longevity.

Finally, a former salesperson has stated that the fit and finish and the quality of the materials in a Tesla vehicle aren't always great.

READ ALSO: Corruption Perception Index: Ghana listed among the 10 most corrupt countries in Africa

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