https://techcrunch.com/2023/01/12/why-africa-had-no-unicorns-last-year-despite-record-fundraising-haul/ > The African tech scene was met with fanfare in 2021: Venture capital investments in the region totaled between $4 billion and $5 billion and produced five unicorns. In my piece detailing this progress, I predicted there would be more unicorns in 2022. Those predictions proved to be way off the mark by year’s end. > Data from market insights trackers Briter Bridges and The Big Deal reveal that funding raised by African startups exceeded $5 billion (including undisclosed deals) in 2022 — a slight percentage increase from the figures reported in 2021 despite a global pullback in VC funding. And yet, no unicorns popped up throughout the year, compared to five in 2021.