Nigerian startups are off to a fast start in January, with six raising a total of N15.6 billion ($31.5 million), IgbereTV reports.
The money raised was disclosed by the Nigeria Investment Promotion Commission (NIPC) in its intelligence report published on Tuesday.
IgbereTV gathered that the funds were raised in separate deals from both foreign and local investors.
Top on the list of startups that raised funds in January was the fintech company, Bamboo, a brokerage app that lets Africans buy and trade US stocks in real-time.
The start-up raised a $15 million Series A funding round to accelerate its growth, move into new markets and launch more products.
The $15 million Series A round was led by Greycroft participation from Motley Fool Ventures, Saison Capital, Chrysalis Capital, and YCombinator’sMichaelSeibel, amongst others.
With the capital, Bamboo plans to further accelerate its growth, doubling down on unlocking new markets and launching more products.
Similarly, Nigerian ehealth pharmaceutical distribution startup, DrugStoc secured $4.4 million in a Series A funding round led by Africa HealthCare Master Fund, Chicago-basedventure firm Vested World, German Development Bank (DEG) amongst others.
While SeamlessHR, a startup that builds world-class cloud solutions to help organisations manage most HR processes on one platform, raised $10 million initsSeriesAfundinground, which will see it expand to new frontiers in Southern and East Africa
