We craft software, platforms and technology solutions for companies across the world, ranging from startups to Fortune 500 companies.  We are backed by a group of experts with deep industry and technology expertise who can help with not only development but also launch and scaling.  

We have clients in over 15 countries including  Argentina, Canada, Denmark, Germany, India, Indonesia, Malaysia, Mexico, Nigeria, Norway, Pakistan, Russia, Switzerland, UK and USA .

How can we help you ?

Contacts

info@mashkraft.com

Canada: +1 (647) 948 6721
Pakistan: +92 423 5831257

Facebook-f
Twitter
Insights
_ _ asif_ 0 Comments

Q1-2022 : State of Venture Capital Investments in the Next-11 Countries

By Mashkraft Research 

In Q1-2022, startups in the N-11 countries attracted at least US$4.6B in venture capital funding for 354 startups spanning e-commerce, FinTech, EdTech, AgTech and Gaming. This was a 10% increase in funding compared to Q4-2021. The Next Eleven (or N-11) are eleven countries—Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam— identified by Goldman Sachs investment bank as having a high potential of becoming the world's largest economies in the 21st century along with the BRICs. Together, these countries have a population of approximately 1.6 billion, with 0.9 billion internet and social media users and a GDP of US$ 5.3 trillion . With a relatively young population, growing middle class, fortifying digital infrastructure and a strong pool of STEM graduates, these countries are increasingly becoming hotbeds for startups and venture capital.

Bangladesh

Bangladeshi startups saw at least 10 VC funding rounds in Q1-2022 with US$16M in invested capital, a 9x increase compared to Q4-2021. Most of the investments went into e-commerce and edtech companies. Sharetrip, a Dhaka-based end-to-end travel solutions platform attracted the most funding with $6.5 M in a Seed round from US-based Skycatcher.

Egypt

Egyptian startups saw at least 41 VC funding rounds in Q1-2022 with US$164M in invested capital, a 3x increase compared to Q4-2021. Most of the investments went into FinTech and e-commerce companies. Khazna, a Cairo-based financial services platform for labourers, contractors and small businesses attracted the most funding with US$38 M in a Series A round led by US-based Quona Capital.

Indonesia

Indonesian startups saw at least 75 VC funding rounds in Q1-2022 with US$1.1 B in invested capital, a 1.5x increase compared to Q4-2021. Most of the investments went into FinTech and AgTech companies. DANA Wallet, a Jakarta-based digital wallet platform attracted the most funding with US$200 M invested by the Indonesian conglomerate, the Sinar Mas Group.

Mexico

Mexican startups saw at least 57 VC funding rounds in Q1-2022 with US$423M in invested capital, a 28%  decrease compared to Q4-2021. Most of the investments went into FinTech and e-commerce companies. 99 Minutos, a Mexico City-based e-commerce delivery platform that operates across Latin America, attracted the most funding with US$82 M in a Series C round led by US-based OAK HC/FT Capital.

Nigeria

Nigerian startups saw at least 27 VC funding rounds in Q1-2022 with US$212M in invested capital, a 25%  increase compared to Q4-2021. Most of the investments went into FinTech companies. Moove, a Lagos-based startup that provides revenue-based vehicle financing (for example to uber drivers) , attracted the most funding with US$65 M in a Series A round led by US-based Left Lane Capital and Austria based Speedinvest.

Pakistan

Pakistani startups saw at least 25 VC funding rounds in Q1-2022 with US$138 M in invested capital, a 2x   increase compared to Q4-2021. Most of the investments went into e-commerce and  FinTech companies. Bazaar, a Karachi-based B2B e-commerce platform that connects retailers with wholesalers and manufacturers, attracted the most funding with US$70 M in a Series B round led by US-based Dragoneer and Tiger Global Management.

Philippines

Filipino startups saw at least 15 VC funding rounds in Q1-2022 with US$138 M in invested capital, a 46%   decrease compared to Q4-2021. Most of the investments went into e-commerce and  FinTech companies. Pasig Based GrowSari, which helps small grocery stores (called  Sari-Sari stores in the Philippines) with digitization, attracted the most funding with US$78 M in two Series C rounds led by US-based KKR and the International Finance Corporation.

South Korea

South Korean startups saw at least 40 VC funding rounds in Q1-2022 with US$857M in invested capital, a 13%  decrease compared to Q4-2021. Most of the investments went into AI-powered fintech, e-commerce and healthcare platforms. Qraft Technologies, a Seoul-based AI-powered investments platform attracted the most funding with US$146 M invested by Softbank.

Turkey

Turkish startups saw at least 43 VC funding rounds in Q1-2022 with US$1.1B in invested capital, an 8x  increase compared to Q4-2021. Most of the investments went into gaming and delivery companies. Getir, an Istanbul-based on-demand delivery services platform attracted the most funding with US$768 M in a Series E round led by Canada-based Khaira Capital, UAE-based Mubadala and US-based Tiger Global Management.

Vietnam

Vietnamese startups saw at least 21 VC funding rounds in Q1-2022 with US$89M in invested capital, an 89% decrease compared to Q4-2021. Most of the investments went into fintech and gaming companies. Ho Chi Minh City-based Timo, a digital bank,  attracted the most funding with US$20M in a round led by Australia-based Square Peg Capital.

Download this report in pdf format



    ♥129

    Leave a comment

    Your email address will not be published. Required fields are marked *