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In this episode, Tobias Reiter, co-founder of Viebeg, discusses the growth of Africa's startup ecosystem. He shares his experience with raising $3.5 million in a pre-seed round in 2021 and the challenges he faced in raising the funding. Reiter has done two funding rounds, one in 2021 and one in 2024. The market conditions have been challenging, with funding declining in 2023 and 2024 compared to 2022. Despite this, Reiter believes that it is not impossible to raise money in Africa. He has already closed $3.1 million, but it took longer than initially expected. Tobias also shares a story about his journey as an entrepreneur, highlighting the challenges of expanding to other countries, hiring more people, and investing time into the company.
Additionally, we have our weekly Africa Startup News Digest with Giramata, where we take a quick look at the startup news making headlines on the African continent.