3 Nigerian startups make up Techstars Toronto cohort as it makes its 100th  investment in 6 years 

  The news:

  • Canadian accelerator, Techstars Toronto, has just made its 100th investment in six years, and three Nigerian startups made the chohort
  • The Nigerian startups are part of 24 companies the accelerator is investing in.
  • It has previously invested in Nigerian startups such as TalentQL, Quidax, and Korapy.

Oval, Cutstruct, and are the latest Nigerian members of Techstars Toronto. They are part of the 24 startups that joined the Canadian accelerator, bringing the total number of investments to 100. Techstars has previously invested in TalentQL, Korapay, Raenest, and Treepz.

“With an astonishing number of applicants and only a 1 to 2% acceptance rate, we”re fortifying our local tech scene. This 100th investment from our Toronto fund showcases our dedication to fostering innovation in Canada, and in emerging markets. Moreover, we are lifetime partners to these founders, with skin in the game,” Sunil Sharma, Managing Director of Techstars Toronto, said in a statement seen by Techpoint Africa.

Techstars operates 53 accelerators across North America, Europe, Africa, and Asia, partnering with global organisations such as Audi, Cox Enterprises, and J.P. Morgan. In 2022, it launched the ARM Labs Lagos Techstars Accelerator, tapping Oyin Solebo to lead the team. This year, it unveiled its first cohort of 12 startups, including CDcare, Keza Africa, and Salad.

The 24 companies funded by Techstars Toronto this year cut across healthcare, fintech, autonomous drone delivery, and the creator economy. 45.8% of the companies in this cohort are based in Canada. While its primary focus is on Canada, 50% of this year’s cohort was founded outside Canada, with Africa contributing 33.3% of this year’s cohort.

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