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Home Funding

Stears, a Nigerian data and intelligence startup, raises $3.3 million

Tech Gist Africa by Tech Gist Africa
10/14/2022
in Funding, News - West Africa, Startups
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Stears Nigeria

Stears Nigeria

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The Nigerian data and insights startup Stears disclosed that it had secured $3.3 million from Serena Williams’ investment firm, Serena Ventures, as part of a seed round. 

The Omidyar Group’s Luminate Fund, Cascador, Hoaq Club, Melo 7 Tech Partners, and MaC Venture Capital were also a part of the round, which was led by MaC Venture Capital. 

Preston Ideh, Abdul Abdulrahim, Foluso Ogunlana, and Michael Famoroti founded Stears in 2017. 

Stears is a provider of financial data and analytics that charges businesses and professionals on a subscription basis for data and insight. 

The company was one of the 60 startups selected for the Google for Startups Black Founders Fund 2022 batch. 

Preston Ideh, a co-founder, commented on the funding round, saying, “We know that worldwide professionals need our data and insight because banks, research organizations, development companies, and investors are currently using our early products. Our clients claim that we are creating a “systemically essential” business to solve Africa’s data crisis. 

The company has stated that it will utilize the funds to strengthen its data collection and analytics skills, recruit top people, and expand into East and Southern Africa.

 

Read more on Tech Gist Africa:

Spleet, a prop-tech startup in Nigeria, has completed a US$2.6 million seed funding round

Remedial Health, a Nigerian healthtech startup, receives $4.4 million in seed funding

Kippa, a fintech startup in Nigeria, raises $8.4 million in a funding round

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Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

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