Nigerian Fcebook Accelerator startups raise $500,000 in investments

Chinenye Anuforo

Startups participating in the second season of the Facebook Accelerator Programme have recorded significant achievements, including raising over $500,000 in committed investments and grants in just three months (halfway through the programme). 

Within the same period, they have also made significant product pivots, sealed key partnerships and made progress towards creating unique products with world-class business processes.

These results were recently revealed by Facebook and CcHUB, following the 2019 programmes and training to support and empower students and entrepreneurs to build locally relevant solutions using advanced technologies at NG_Hub, Facebook’s flagship Community Hub space, in partnership with CcHUB.

So far in the programme, the startups have been introduced to multiple venture capitalists and corporate executives and also matched with advisors within the CcHUB Global Advisory network. These advisors include c-suite executives and experts from companies like Dell, Oracle, IHS Towers, Stanbic IBTC, Cellulant, Old Mutual, Axa Mansard, among others.

Six of the startups contributed to the $500,000 total raised so far, with highlights including: Chekkit, Haulr, Simbi, Vinsighte AirSynq and Gradely. These startups and many more will be showcasing their products and solutions, aimed at tackling problems across multiple sectors, to corporate executives, multinationals and other potential partners during the annual Facebook Accelerator Programme Innovation Showcase week in February 2020.

Speaking on the development, Adaora Ikenze, head of public policy for Anglophone West Africa at Facebook, said: “The numbers speak for themselves, and further reinforce that the work and investments we are undertaking here in Nigeria are having real impact. At Facebook, we are passionate about helping developers and entrepreneurs to grow. We believe in empowering small businesses through our platforms to help more people launch and grow their businesses, which translates to real impact for their communities and local economies.”