Excerpts from the Africa Tech Startups Funding Report 2020. 🧵

In 2020, a total of 397 African tech startups raised a record $701million in funding, with bulk (89%) of these funds going to startups in Nigeria, Kenya, South Africa & Egypt.
The tech startups that stood out in 2020 by funding received were:
°Egypt's Vezeeta - $40,000,000
°Nigeria's Flutterwave - $35,000,000
°South Africa's Skynamo - $30,000,000
°Kenya's Twiga Foods - $29,400,000
°Kenya's Komaza - $28,000,000
The top investors in African tech startups in 2020.
Kenya 🇰🇪

59 Kenyan startups raised a record total of $191,381,000 in funding in 2020.

Twenty two (37%) of Kenya’s funded startups raised a $1 million or more.
The report points out that all the major rounds raised for startups in Kenya 🇰🇪 go to companies with foreign/expat founders & CEOs, a feature that makes it stand out from other African countries.

But the number of startups & funding is growing.
Nigeria 🇳🇬

In 2020, 85 Nigerian startups raised a combined $150,358,000, ranking 2nd in Africa behind Kenya.

23 Nigerian startups raised in excess of the million dollar mark in 2020 - accounting for 27% of the country’s funded ventures.
Egypt 🇪🇬

Egyptian startup ecosystem exploded in 2018, disrupting the African startup funding.

Egypt stands out across the continent in that fintech is much less a focus for investors, instead e-commerce and retail-tech are favourites.
South Africa 🇿🇦

South Africa was the 3rd most attractive investment destination on the African continent in 2020, for both number of startups funded & the total investment raised.
Download link to the full 2020 African Tech Startups Funding Report > https://t.co/vR62NTZAkc

(PS: Key in $0 as your fair price to get a free copy).

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Recently, the @CNIL issued a decision regarding the GDPR compliance of an unknown French adtech company named "Vectaury". It may seem like small fry, but the decision has potential wide-ranging impacts for Google, the IAB framework, and today's adtech. It's thread time! 👇

It's all in French, but if you're up for it you can read:
• Their blog post (lacks the most interesting details):
https://t.co/PHkDcOT1hy
• Their high-level legal decision: https://t.co/hwpiEvjodt
• The full notification: https://t.co/QQB7rfynha

I've read it so you needn't!

Vectaury was collecting geolocation data in order to create profiles (eg. people who often go to this or that type of shop) so as to power ad targeting. They operate through embedded SDKs and ad bidding, making them invisible to users.

The @CNIL notes that profiling based off of geolocation presents particular risks since it reveals people's movements and habits. As risky, the processing requires consent — this will be the heart of their assessment.

Interesting point: they justify the decision in part because of how many people COULD be targeted in this way (rather than how many have — though they note that too). Because it's on a phone, and many have phones, it is considered large-scale processing no matter what.