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IProcure, the Kenyan agritech startup backed by Safaricom’s Spark Fund, is now under administration after failing to settle undisclosed debt

71% of investors said will not put in more money in those failing to provide regular reports.

Kenyan start-ups got Sh91.4 billion from venture capital (VC) funds last year.

B2B e-commerce startup Zumi is shutting down due to its inability to raise the funding necessary to sustain its operations. More in #TCDaily.

Zumi, an e-commerce platform dealing with non-food commodities, has shut down after funding dried up.

Kenyan startup Zumi is shutting down and letting go of 150 people due to its inability to raise the funding necessary funding.

More than 900 tech companies collectively fired 150,000 employees globally in 2022.

At least six Kenya-based start-ups closed shop this year due to a number of threats, including lack of financing and pandemic woes.

The high-end Hilton Hotel had 287 rooms offering suite services and attributed its closure to declining business in Nairobi CBD.

Months after Kenya-based marketplace Sky.Garden announced planned layoffs and a shutdown, the startup has secured fresh funding.