Introduction
Welcome to the 5th edition of my annual state of healthtech in Nigeria review. I began writing this back in 2016 and can’t believe it’s 5 years now. You may review the previous 4 editions via the following links.
2021 has been a blockbuster fundraising year for African startups. Nigerian startups, in particular, have raised over $1.4b in the year. Furthermore, a record number of African startups made it into leading global startup accelerators such as Techstars and Y Combinator. Big tech hasn't been left out of the action. Google committed significant funding and support to companies on the continent via its black founders’ fund and several other initiatives. All this points to a certain coming of age for African tech.
Despite this growth, health tech funding still lags behind other sectors. Health made up about 4% of the total funding amount on the continent. A far cry from the 57% that's gone to fintech. Considering that we've been in the throes of…
