Promising Kenyan Startups of 2023 Worth Keeping an Eye

Promising Kenyan Startups of 2023 Worth Keeping an Eye On.

Kenya stands out as a leading hub for startups in Africa, boasting significant development and progress in its entrepreneurial ecosystem. In the East African region, Kenya holds the top position and ranks 62nd globally. It comes as no surprise, therefore, that a plethora of impressive Kenyan startups have emerged and continue to make waves on the international stage.

One of the key drivers behind the success of these startups is their growing access to vital venture capital (VC) funding, which fuels their growth and expansion. Despite the economic challenges faced in 2022, Kenya defied the odds and witnessed a remarkable increase in startup funding compared to the previous year, raising a staggering $1.1 billion. This represents a remarkable 33% surge from the preceding year, highlighting the resilience and potential of the Kenyan startup ecosystem.

With such encouraging trends, Kenya's startup scene is expected to maintain its upward trajectory, nurturing even more groundbreaking ventures in the foreseeable future.

Here is our curated list of the top startups in Kenya.

1. BasiGo

Year Founded: 2021

HQ: Nairobi, Nairobi Area, Kenya

Size: 1-10

Founders: Jit Bhattacharya, Jonathan Green

BasiGo, a Kenyan startup established in 2021 and headquartered in Nairobi, operates in the transportation sector. With a focus on offering affordable and eco-friendly public transportation options, BasiGo aims to revolutionize travel routes across the country. The company's pilot programs, featuring electric buses, have garnered significant acclaim and proven to be highly successful.

The business has been very successful in raising startup funding since being founded, with the company raising a total of $6.6 Million in funding during its most recent round to fund EV assembly plans.

2.Numeral IOT

Year Founded: 2018

HQ: Solanite Godowns, Mombasa Road, Nairobi, Kenya.

Founders: Morris Mbetsa

Numeral Iot is a startup company started By the infamous Morris Mbetsa, one may know Morris from him making human-carrying drones. Numeral Iot is an IOT company that makes embedded devices that are used in various applications. One of their most famous products is Simba 4G Speed Governor that is used in most of Kenya’s matatu. Other products include Bundi Vehicle Tracking & Security , Smart Gas.

The company has also scaled to make products for other countries. On a youtube Interview with presenter Ali, Morris says that they are working with Tanzania's Government to make smart electricity tokens. This product is said to be the future of electricity tokens.

3. Mara

Year Founded: 2021

HQ: Nairobi, Nairobi Area, Kenya

Size: 51-100

Founders: Chi Nnadi, Dearg OBartuin, Lucas Llinás Múnera

Mara is a Kenyan startup that was founded in 2021 and is currently based in the city of Nairobi. The company operates in the blockchain market and provides people in Africa with the opportunity to use cryptocurrencies and their ability to earn yields and trading as a way to improve financial freedom in the country.

Mara has been very successful in raising startup funding, with the most recent round undertaken by the company netting it a total of $23 Million to further the growth and development of the company.

4. Ilara Health

Year Founded: 2019

HQ: Nairobi, Nairobi Area, Kenya

Size: 101-250

Founders: Amaan Banwait, Emilian Popa, Hannes Eckmayr, Maximilan Mancini, Sameer Farooqi

Ilara Health is a Kenyan startup that was founded in 2019 and is currently based in the city of Nairobi. The company aims to improve the state of primary care in Africa by building a network of health clinics that provide a range of healthcare services for an affordable price, making healthcare more accessible.

The business has been very successful in raising startup funding since being founded, with the company raising a total of $3.75 Million during its most recent funding round in December 2022.

5. Solar Panda

Year Founded: 2017

HQ: Nairobi, Nairobi Area, Kenya

Size: 51-100

Founders: Andy Keith

Solar Panda is a Kenyan startup that was founded in 2017 and is currently based in the city of Nairobi. The company aims to provide access to electricity in rural areas by installing solar panels and allowing communities to pay for these as they use the electricity, helping to improve quality of life in these communities.

The business has been very successful in raising startup funding, with a total of $15 Million being raised across a number of funding rounds. These rounds were supported by a total of five investors.

6. AI Wakforce

Year Founded: 2020

HQ: Nairobi, Nairobi Area, Kenya

Size: 51-100

Founders: Moses Njau

AI Workforce is a Kenyan startup that was founded in 2020 and is currently based in the city of Nairobi. The company aims to help with the development of AI in the country and abroad by providing dataset training services to assist others in developing their AI.

The business has gone through a single round of startup funding since being founded, with the company's Pre-Seed round netting it an undisclosed amount of funding.

7. Africa Data Centres

Year Founded: 2018

HQ: Nairobi, Nairobi Area, Kenya

Size: 101-250

Founders: Unavailable

Africa Data Centres is a Kenyan startup that was founded in 2018 and is currently based in Nairobi. The company works in the technology market and aims to help other businesses in Africa to grow and improve through the use of advanced technology and data management services.

The business has been incredibly successful in raising startup funding since being founded, with a total of $83 Million being raised by the company from a single investor. This represents one of the biggest ever Kenyan VC deals.

8. Amitruck

Year Founded: 2019

HQ: Nairobi, Nairobi Area, Kenya

Size: 11-50

Founders: Mark Mwangi, Timothy Mwangi

Amitruck, a Nairobi-based Kenyan startup established in 2019, operates in the logistics industry with a vision to revolutionize the market landscape. The company's core objective is to enhance the state of logistics in the country by offering a digital logistics marketplace that drives efficiency for all stakeholders involved. Since its inception, Amitruck has achieved notable success in securing startup funding, raising a substantial $5.2 Million from eleven investors. This significant funding injection has played a pivotal role in propelling the company closer to its ambitious goals and fueling its continued progress.

9. Lapaire

Year Founded: 2018

HQ: Nairobi, Nairobi Area, Kenya

Size: 101-250

Founders: Jérôme Lapaire

Lapaire, a Nairobi-based Kenyan startup established in 2018, operates in the healthcare sector with a primary focus on addressing the affordability of eyeglasses. The company aims to provide accessible eyewear solutions to individuals across seven countries in Africa, eliminating the financial barriers that often hinder access to glasses. By offering affordable options, Lapaire strives to ensure that quality eyeglasses are within reach for all.

Since its inception, Lapaire has successfully navigated multiple funding rounds, raising a total of  $1.2 Million. This financial support has been instrumental in propelling the company's growth and impact. With the backing of a pair of dedicated investors, Lapaire has been able to expand its reach and make significant strides in transforming eyewear accessibility in Africa.

10. Fingo Africa

Year Founded: 2020

HQ: Nairobi, Nairobi Area, Kenya

Size: 11-50

Founders: Gitari Tirima, Ian Waiguru, James da Costa, Kiiru Muhoya

Fingo Africa, a Nairobi-based Kenyan startup established in 2020, operates in the FinTech industry with a core focus on empowering the youth through access to bank accounts. By providing young Kenyans with bank accounts, Fingo Africa aims to foster financial literacy skills from an early age, equipping them with essential knowledge that will benefit their future financial endeavors.

Since its inception, Fingo Africa has experienced significant success in securing startup funding, raising a remarkable total of $4.1 Million . This substantial funding has been made possible through the support of five investors, enabling the company to further its mission and expand its reach. Fingo Africa's commitment to promoting financial inclusion and education has been greatly reinforced by this capital infusion, positioning the startup for continued growth and impact in the FinTech landscape.

The compilation of this list is primarily centered around technology companies that are in their early stages. It has been written based on thorough research and analysis. However, it is important to note that there are several other remarkable startups that deserve recognition. Among them are the following: Badili , Koa , Wowzi , Kapu , Kotani Pay and RFH Healthcare.

When it comes to startups, success is not always guaranteed, and many face significant challenges. However, there are exceptional cases of startups in Kenya that have managed to sustain themselves and remain competitive for over a decade. Here are a few inspiring examples of such resilient startups in the Kenyan ecosystem.

1.Twiga foods:

Twiga foods is one of the most successful startups in Kenya founded in 2014. The company deals in food products. With time the company has grown exponentially with valuation of over $50 millon( 7billion Ksh)

2.M-Kopa :

M-KOPA was founded in 2010 with an idea of combining the power of digital micropayments with GSM connectivity to make life-enhancing assets more accessible. Since then, they have built one of the world’s most advanced connected financing platforms, deploying $1 billion in products and credit to the financially excluded.

3.Sendy:

Sendy is an end-to-end logistics solution enabling thousands of businesses to move any type of goods using any type of vehicle: motorcycle, pick-up, van, truck or trailer. Sendy was established in 2014 as a way to provide easy tools to empower and enrich people.

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