Techstars Lagos, a joint venture between global accelerator Techstars and Nigerian-based ARM Labs, has ceased operations after just two years. Launched in December 2022, the program facilitated two cohorts, investing a total of $2.4 million in 24 promising African startups.
Despite the closure, the 24 founders and their companies funded by Techstars Lagos will remain part of the Techstars portfolio and continue to have access to the global Techstars network.
During its two-year run, ARM Labs Lagos Techstars Accelerator invested approximately $2.4 million in 24 startups, providing each with up to $120,000 in funding.
The program supported several companies, including Surge Africa, Rana, PressOne Africa, Jump n Pass, GetEquity, Beauty Hut Africa, Oystr Finance, Keza Africa, Keble, and Flick.
While the partnership with ARM Labs has ended, Techstars remains optimistic about collaborating with the local startup community to maintain its presence in the vibrant innovation hub of Lagos.
Managing Director Oyin Solebo and Program Manager Oluwadunni Fanibe have both moved on from their roles, with Fanibe joining Google as a Mentor in August 2024.
