Big Cabal Media Raises $2.3Million Seed Funding to Strengthen Technology Contents in Africa

The tech narratives in Africa has improved a lot in the past decade, thanks to digital media platforms that are shunning out great contents about start-ups in the continent. 2021 saw a leap in the FDI in the continent and Nigeria was a great recipient in the investment flow. $1.8Billion got into the economy through the tech ecosystem.

The online tech publications played a huge role in the success of Africa’s tech ecosystem. Their efforts have been largely overlooked in the start-up venture capital funding space. Most online tech publications have been running their operations rather through grant or personal funding to scale.

The narratives has been changed by Big Cabal Media, the Nigerian based media start-up that runs Tech Cabal and Zikoko, announced that it just raised $2.3Million seed funding to expand and reach new audience in the continent and beyond.

The seed round buttressed a $620,000 angel and pre-seed round Big Cabal Media raised between 2016 and 2020 increasing the total funding to over $2.9Million. Mac Venture Capital led the round and also participating in the round funding were VC firms like Luminate, Unicorn Group, Future Africa and other notable angel investors.

BCM was founded by Seyi Taylor and Bankole Oluwafemi in 2013, and Tomiwa Aladekomo took over in 2018 from Seyi Taylor. 2014 brought real interest in Nigeria tech space when venture capitalists flushed into the tech space by investing in Nigerians tech start-ups. The start-up tech media firm saw a great opportunity and starting telling the Nigerian tech stories. The online tech publication is the most widely read tech publication in Nigeria.

The CEO once disclose that Tech Cabal’s online platform reaches 300,000 to 500,000 readers monthly. The newsletter is consumed by more 60,000 subscribers in over 30 countries. He also said, ” I think even more important than just sort of like sheer numbers are impact. It’s our ability to drive conversations about money, relationships, careers in ways nobody else is doing.” He also affirmed that, “To be a voice of citizens and government in a way that nobody else does, I think that’s been supercritical with Zikoko.”

The authentic source of revenues for Tech Cabal and Zikoko is advertising on its websites and newsletters. Other tech media platforms also depends on advertising as source of revenue. The tech space has opened up more doors of opportunity because the tech media platforms has created a positive narratives for everyone in the tech ecosystem.

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