Space in Africa, a Nigerian based online news, data, and market analysis publication for the African space industry, has announced that it has successfully concluded its Seed funding round. The investment round was led by AC Ventures, the venture capital firm led by Adam B. Cohen, who has previously built and sold other research and news companies.
The amounts involved and the terms of the funding round were not disclosed by either party.
"Many people outside Africa are surprised to hear how significant the African space industry has become, and how the development of the industry has become a real priority for many nations and the African Union," said Space in Africa founder, Temidayo Oniosun.
Africa's space industry
There are thousands of people employed across the African space industry, and our local technology skills set is growing alongside international partners and home-grown Space startups. African engineers are increasingly collaborating on satellite construction, while local innovators are providing new application solutions across communications, natural resources, and public services.
The digital media startup has indicated that it will use the seed funds raised to hire additional reporters and analysts to expand coverage for its subscription news service and specialised industry reports. Its latest report, the Africa Space Industry Annual Report 2019 is said to cover all deals, space policies, satellite programs, national space programs, regional cooperation and the growth of Africa’s commercial space industry from 1998 to April 2019. The report also provides insights into future space activities in Africa, covering up to 2024.
"We now have reporters in Kenya, Nigeria, South Africa, Rwanda, and Tanzania who travel around the continent to cover all aspects of the market. We typically publish six to eight stories daily, and we just launched our Opportunities platform that lets you in on a wide range of new projects, open jobs, fellowships, and other prospects for gaining business and expertise. We want to be your first and best source for all information pertaining to the African space industry," said Oniosun.
Sapce in Africa was founded by Oniosun, who has been recognised as one of the World 24 Under 24 Leaders and Innovators in SPACE and STEAM by The Mars Generation, and is one of the recipients of the 35 Under 35 Space Industry Recognition Award by the International Institute of Space Commerce. Space in Africa was one of the finalists in the NewSpace Business Plan Competition at the New Worlds Conference in Austin, Texas.Share this article via: