Startups ranked by AI-estimated valuation
Kenya’s 20 most valuable startups
A quarterly ranking of non-listed Kenyan startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; AI models estimate it.
Listed benchmarks
Safaricom · Telecom and mobile money (M-Pesa) · Nairobi Securities Exchange · SCOM
Not ranked: no intention is possible on a listed company.
The market at a glance
20companies ranked
17companies on the radar
USD 984M (USD 383M of equity)raised in 2025
75 startups raising USD 100K or morerounds in 2025
Kenya led African startup funding in 2025 with USD 984M (up 52%, about a third of the continent), but 60% was debt (USD 582M) versus USD 383M of equity, driven by off-grid energy and asset-financing players such as d.light, Sun King and M-KOPA. In H1 2026 Kenyan startups raised about USD 126M (KES 16.3bn), falling to third place behind Egypt (USD 327M) and Nigeria (USD 254M). Sources: Africa: The Big Deal 2025, via Capital FM (Jan 2026), Business Daily, H1 2026 (Aug 2026). Intention counters will be shown above a threshold of amount and number of Backers.
National ranking · all sectors
Snapshot22 Oct 2026A snapshot taken on 22 Oct 2026
This ranking shows the startups as they stood on 22 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 23 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
This ranking shows the startups as they stood on 22 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 23 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
By sector30% Energy & climate25% Fintech20% Mobility & logistics10% Business software10% Food & agriculture5% Healthtech
| # | Company | Sub-sector | Known funding | Estimated valuation (AI) · range | Pool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool. Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets, to validated members only. Terms for Backers → | BackBacking a startup on Uback (pronounced “you back”) can be done in two ways: Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once. Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a partner desk. Neither is an order nor a commitment to invest. Terms for Backers → |
|---|---|---|---|---|---|---|
| 1 | Sun KingNairobi · founded 2008 Operates in more than 40 countries; Series D of 2022 (USD 260M) mixed equity and debt. |
Energy › off-grid solar (PAYG) | raised Growth round · USD 40M · Dec 2025 (Lightrock); Series D of USD 260M in 2022 |
Last known equity round: Growth round · USD 40M · Dec 2025 (Lightrock)Method | Be the first | Back |
| 2 | M-KOPANairobi · founded 2011 Operates in Kenya, Uganda, Nigeria, Ghana and South Africa. |
Fintech › pay-as-you-go asset financing | USD 245M+ raised Growth equity · USD 55M · Dec 2023 (Sumitomo Corporation; Standard Bank, Lightrock, Generation Investment Management) |
Last known equity round: Growth equity · USD 55M · Dec 2023 (Sumitomo Corporation; Standard Bank, Lightrock, Generation Investment Management)Method | Be the first | Back |
| 3 | CellulantNairobi · founded 2002 Co-founded by Ken Njoroge and Bolaji Akinboro; payment licences in several African markets. |
Fintech › payments | raised Series C · USD 48M · May 2018 (The Rise Fund; Endeavor Catalyst, Satya Capital, Velocity Capital, Progression Africa) |
Last known equity round: Series C · USD 47.5M · May 2018 (The Rise Fund; Endeavor Catalyst, Satya Capital, Velocity Capital, Progression Africa)Method | Be the first | Back |
| 4 | Apollo AgricultureNairobi · founded 2016 Reached over 350,000 farmers in Kenya and Zambia by 2024. |
Agritech › input financing | raised Series B · USD 40M · Sep 2022 (SoftBank Vision Fund 2) |
Last known equity round: Series B · USD 40M · Sep 2022 (SoftBank Vision Fund 2)Method | Be the first | Back |
| 5 | KomazaKilifi · founded 2006 Works with tens of thousands of smallholder tree farmers. |
Climate › micro-forestry | raised Series B · USD 28M · Jul 2020 (Novastar Ventures) |
Last known equity round: Series B · USD 28M · Jul 2020 (Novastar Ventures)Method | Be the first | Back |
| 6 | BasiGoNairobi · founded 2021 Electric buses in service in Nairobi; expansion to Kigali financed by BII. |
Mobility › electric buses | raised Series A · USD 24M · Oct 2024 (Africa50; Novastar Ventures, CFAO Kenya, Mobility54, Trucks VC) |
Last known equity round: Series A · USD 24M · Oct 2024 (Africa50; Novastar Ventures, CFAO Kenya, Mobility54, Trucks VC)Method | Be the first | Back |
| 7 | ZenoNairobi · founded 2022 Charging and swap locations in four cities across Kenya and Uganda. |
Mobility › electric motorcycles | raised Series A · USD 20M · Mar 2026 (Congruent Ventures; Active Impact Investments, Lowercarbon Capital) |
Last known equity round: Series A · USD 20.5M · Mar 2026 (Congruent Ventures; Active Impact Investments, Lowercarbon Capital)Method | Be the first | Back |
| 8 | PulaNairobi · founded 2015 Active in 22 countries; earlier Series A of USD 6M led by TLcom (2021). |
Agritech › agricultural insurance | raised Series B · USD 20M · Apr 2024 (BlueOrchard; IFC, Hesabu Capital) |
Last known equity round: Series B · USD 20M · Apr 2024 (BlueOrchard; IFC, Hesabu Capital)Method | Be the first | Back |
| 9 | UmbaNairobi · founded 2018 Holds a Kenyan microfinance banking licence (via acquisition) and focuses on secured lending. |
Fintech › digital bank | about USD 20M (incl. 2025 debt) raised Series A · USD 15M · Apr 2022 (Costanoa Ventures; Lux Capital, ACT Ventures, Palm Drive Capital, Banana Capital) |
Last known equity round: Series A · USD 15M · Apr 2022 (Costanoa Ventures; Lux Capital, ACT Ventures, Palm Drive Capital, Banana Capital)Method | Be the first | Back |
| 10 | d.lightNairobi · founded 2007 Finances its PAYG receivables through large securitisation facilities in Kenya and other markets. |
Energy › off-grid solar (PAYG) | raised Growth round · USD 15M · Oct 2021 (Inspired Evolution, Shell New Energies, FMO); later financing is debt |
Last known equity round: Growth round · USD 15M · Oct 2021 (Inspired Evolution, Shell New Energies, FMO)Method | Be the first | Back |
| 11 | PowerGenNairobi · founded 2011 Operates mini-grids and distributed solar in Nigeria, Sierra Leone, Kenya and other African markets. |
Energy › mini-grids and C&I solar | raised Growth equity · USD 15M · Sep 2026 (IFU; PIDG, EDFI ElectriFi, AfDB SEFA) |
Last known equity round: Growth equity · USD 15M · Sep 2026 (IFU; PIDG, EDFI ElectriFi, AfDB SEFA)Method | Be the first | Back |
| 12 | RoamNairobi · founded 2017 Formerly Opibus; runs a motorcycle assembly plant in Nairobi. |
Mobility › electric motorcycles | USD 30M+ (incl. debt) raised Series A · USD 14M · Jan 2024 |
Last known equity round: Series A · USD 14M · Jan 2024Method | Be the first | Back |
| 13 | TuracoNairobi · founded 2019 Operates in Kenya, Uganda and Nigeria. |
Fintech › insurtech | raised Series A · USD 10M · Sep 2022 (AfricInvest; Novastar Ventures, Enza Capital, Global Partnerships, Zephyr Acorn) |
Last known equity round: Series A · USD 10M · Sep 2022 (AfricInvest; Novastar Ventures, Enza Capital, Global Partnerships, Zephyr Acorn)Method | Be the first | Back |
| 14 | Africa's TalkingNairobi · founded 2010 Connects to mobile operators in over a dozen African countries. |
Software › communications APIs | raised Series B · USD 8.6M · May 2018 (IFC; Orange Digital Ventures Africa, Social Capital) |
Last known equity round: Series B · USD 8.6M · May 2018 (IFC; Orange Digital Ventures Africa, Social Capital)Method | Be the first | Back |
| 15 | PezeshaNairobi · founded 2016 Licensed digital credit provider in Kenya. |
Fintech › SME lending | raised Pre-Series A · USD 6M · Aug 2022 (Women's World Banking Capital Partners II; Verdant Frontiers Fintech Fund, cFund, Input Output Global) |
Last known equity round: Pre-Series A · USD 6M · Aug 2022 (Women's World Banking Capital Partners II; Verdant Frontiers Fintech Fund, cFund, Input Output Global)Method | Be the first | Back |
| 16 | WorkpayNairobi · founded 2019 Y Combinator alumnus serving employers in Kenya, Nigeria and other African markets. |
Software › payroll and HR | nearly USD 10M raised Series A · USD 5M · Aug 2024 (Norrsken22; Visa, Y Combinator, Saviu Ventures) |
Last known equity round: Series A · USD 5M · Aug 2024 (Norrsken22; Visa, Y Combinator, Saviu Ventures)Method | Be the first | Back |
| 17 | LetaNairobi · founded 2021 Operates in Kenya, Uganda, Zambia, Zimbabwe and Nigeria. |
Logistics › delivery software | raised Seed · USD 5M · Mar 2025 (Speedinvest; Google, Equator) |
Last known equity round: Seed · USD 5M · Mar 2025 (Speedinvest; Google, Equator)Method | Be the first | Back |
| 18 | AminiNairobi · founded 2022 Founded by Kate Kallot. |
Climate › environmental data and AI | raised Seed · USD 4M · Dec 2023 (Salesforce Ventures, Female Founders Fund) |
Last known equity round: Seed · USD 4M · Dec 2023 (Salesforce Ventures, Female Founders Fund)Method | Be the first | Back |
| 19 | Octavia CarbonNairobi · founded 2022 Runs a direct air capture pilot in Gilgil in Kenya's Rift Valley. |
Climate › direct air capture | raised Seed · USD 3.9M · Oct 2024 (Lateral Frontiers, E4E Africa; Catalyst Fund, Launch Africa, Renew Capital) |
Last known equity round: Seed · USD 3.9M · Oct 2024 (Lateral Frontiers, E4E Africa; Catalyst Fund, Launch Africa, Renew Capital)Method | Be the first | Back |
| 20 | Ilara HealthNairobi · founded 2018 | Healthtech › clinic diagnostics and financing | raised Series A · USD 3.8M · Feb 2022 (TLcom Capital; DOB Equity, Global Ventures, Chandaria Capital) |
Last known equity round: Series A · USD 3.8M · Feb 2022 (TLcom Capital; DOB Equity, Global Ventures, Chandaria Capital)Method | Be the first | Back |
Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms
Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main operations in Kenya. Request a correction
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How to read this ranking
Rank
Companies are ranked by AI-estimated valuation, highest first. The market sets the value; AI models estimate it.
Estimate
An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.
- Hundreds of k$
- Millions $
- Tens of M$
- Hundreds of M$
- Unicorn
- Decacorn
- Hectocorn
Rankings by sector
Four verticals at launch, more when the feasibility test allows.Coming soon · Top 10
Energy & climate
Pay-as-you-go solar, mini-grids, carbon removal and environmental data.
Coming soon · Top 10
Fintech
Asset financing, payments, digital banking, insurance and SME lending.
Coming soon · Top 10
Mobility & logistics
Electric buses and motorcycles, battery swapping and delivery software.
Coming soon · Top 10
Agritech
Input financing, crop insurance and smallholder forestry.
HealthtechEdtechE-commerceHR techProptech
The Uback Fundraising Desk in Kenya
Introductions made by a Fundraising Desk partner, currently being selected
An adviser licensed by the CMA (Capital Markets Authority of Kenya), the only party entitled to present Backers’ demand to companies for their funding rounds. Sales of existing shares are handled by Secondary Sales Desks, assigned company by company. Uback remains a media: it ranks and aggregates intentions, it takes part in no transaction.
—deals worked on
—deals closed
—average response time
Capital raising advisers
Become Uback’s Fundraising Desk partner in Kenya
- Foreign investors you would not find on your own
- Your name on every ranking of the country
- Backers’ demand on each company, before its round opens
- The “Uback Fundraising Partner in Kenya” title on your profiles
Radar · known eligible companies, not ranked
Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.
- Fuzu · HR › recruitingStrategic investment · amount undisclosed · Jul 2026 (Jobtech Alliance)Back
- Kyosk · Commerce › B2B retail distributionStrategic investment · amount undisclosed · Apr 2023 (Mitsui & Co., ETG); further undisclosed investment in Jul 2026Back
- Watu · Fintech › asset financingMinority investment · amount undisclosed · Sep 2025 (Metier)Back
- BuuPass · Mobility › travel ticketingStrategic investment · amount undisclosed · Jul 2025 (Yango Ventures)Back
- MYDAWA · Healthtech › e-pharmacyFunding round · amount undisclosed · May 2025 (IFU, Alta Semper Capital, AAIC Investment, Creadev)Back
- Chpter · Software › conversational commercePre-seed · USD 1.2M · Sep 2024Back
- Bio-Logical · Climate › biochar carbon removalSeed · USD 1.3M · Jul 2024 (CrossBoundary, Redshaw Advisors, Steyn Group)Back
- SunCulture · Agritech › solar irrigation (PAYG)Series B · USD 27.5M of equity and debt · Apr 2024 (Reed Hastings, InfraCo Africa, Acumen); equity share not disclosedBack
- Lori Systems · Logistics › digital freightBridge · USD 2M · 2024 (Delta40; Future Africa, FP Capital)Back
- Zanifu · Fintech › SME inventory creditPre-Series A · USD 11.2M of equity and debt · Aug 2023 (Beyond Capital Ventures, Variant Investments); equity share not disclosedBack
- Regen Organics · Climate › circular waste to fertiliserFunding round · amount undisclosed · May 2023 (Novastar Ventures)Back
- Victory Farms · Agritech › aquacultureSeries B · USD 35M of equity and debt · Apr 2023 (Creadev; Acumen, DOB Equity); equity share not disclosedBack
- Kwara · Software › banking for cooperativesSeed extension · USD 3M · Jan 2023 (DOB Equity, Globivest; One Day Yes, Base Capital)Back
- Zeraki · Edtech › school management softwareSeed · USD 1.8M · Dec 2022Back
- Lami · Fintech › insurtechSeed extension · USD 3.7M · Aug 2022 (Harlem Capital; Newtown Partners, Peter Bruce-Clark, Caribou Honig, Jay Weintraub)Back
- Moringa School · Edtech › tech skills bootcampFunding round · amount undisclosed · Jun 2022 (Proparco)Back
- Mr. Green Africa · Climate › plastic recyclingFunding round · amount undisclosed · Aug 2019 (DOB Equity, Global Innovation Fund)Back
Born in Kenya, based elsewhere
Companies of Kenyan origin whose main operations are now abroad: not ranked, shown with the law governing their shares.
- Wasoko · Commerce › B2B retail distribution
Founded in Nairobi in 2016 (as Sokowatch); merged with MaxAB in Aug 2024, combined company based in Cairo (ranked in Egypt as MaxAB-Wasoko)Series B · USD 125M · Feb 2022 (Tiger Global), before the merger with MaxABBack
Born elsewhere, based in Kenya
Companies founded abroad whose main operations are in Kenya.
- Sistema.bio · Climate › biodigesters
Founded in Mexico in 2010; head office in Mexico, large Nairobi hub (Kenya is a key market)Series C · USD 7.75M · Jan 2025 (Novastar Ventures) - Hakki Africa · Fintech › driver financing
Founded by Japanese entrepreneurs; part of Hakki Group (Tokyo), operating in Kenya, India and South-East AsiaSeries C · about USD 13.7M (first close) · Apr 2025 (SMBC Venture Capital, Global Brain) - Peach Cars · Commerce › used-car marketplace
Run by the Kenyan subsidiary of Cordia Directions (Tokyo), founded by Japanese entrepreneursSeries A · USD 11M · Jun 2025 (Suzuki Global Ventures; JBIC, Gogin Capital, UTokyo Edge Capital Partners)
Not ranked
- Kopo Kopo · Bought by Moniepoint (Nigeria) in 2023
- Moniepoint · Nigerian company (ranked in Nigeria); Kenya presence through Kopo Kopo
- Moove · Founded in Nigeria, based outside Kenya; Kenya is one of its markets
- Spiro · Based in Dubai; Kenya is one of its markets
- Tala · Founded and based in the United States; Kenya was its first market
- Copia · Entered administration in 2024, then liquidation
- Lipa Later · Placed under administration in Mar 2025
- Twiga Foods · Restructured in 2025; operating affiliate placed under administration in Aug 2026
- MarketForce · Closed in 2024
- Sendy · Shut down in 2023-2024
- Kune · Shut down in 2023
- Gro Intelligence · Shut down in 2024
- Sky.Garden · Shut down after being bought by Lipa Later
- Notify Logistics · Shut down in 2023
- BRCK · Shut down
- iProcure · Placed under administration in May 2024
- KOKO Networks · Closed its Kenyan operations and filed for insolvency in Feb 2026
- BURN Manufacturing · No outside equity round of USD 1M or more found (debt and carbon-project finance)
- Penda Health · No disclosed equity round of USD 1M or more found
The method in Kenya
Calendar. Quarterly ranking, published on the 23rd of January, April, July and October. Next edition: January 23, 2027.
Eligibility: at least $1M raised in equity, non-listed company, main operations in Kenya.
Fundraising Desk sought. An adviser licensed by the CMA (Capital Markets Authority of Kenya).
Sources. Kenyan, African and international business and technology press (Business Daily, The East African, Capital FM, TechCabal, Techpoint Africa, Disrupt Africa, Launch Base Africa, TechCrunch, Bloomberg, Reuters), Africa: The Big Deal and Briter data, company and investor announcements.