Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: Nigeria’s Terra Industries Raises $22m in Follow-On Round, Cementing Position as Africa’s Most-Funded Defence-Tech Startup
Barely a month after closing what was described as the largest funding round in Africa’s defence-technology sector, Nigerian startup Terra Industries has secured an additional $22 million in fresh capital.
The new round, completed in under two weeks, was led by repeat backer Lux Capital, with follow-on participation from 8VC, Nova Global and Silent Ventures. New investors include Belief Capital, Tofino Capital and Resilience17 Capital, founded by Olugbenga Agboola, alongside angel investors such as Jordan Nel and Hollywood actor Jared Leto.
The startup was founded in 2024 by Nathan Nwachuku and Maxwell Maduka. The raise comes on the heels of a prior $11.8 million round, bringing Terra’s total recent funding to more than $33 million, a rare pace of capital accumulation within Africa’s still-nascent defence-tech ecosystem.
“Africa is industrialising faster than any other region,” said Nathan Nwachuku, Terra’s 22-year-old co-founder and chief executive officer. “But none of that progress will matter if we don’t solve the continent’s greatest Achilles’ heel, which is insecurity and terrorism.”
Other Tech News Stories You Should Read:
Proofpoint Acquires Acuvity to Tackle Shadow AI, Prompt Injection, and Model Risks. Read now.
Ricursive Intelligence Raises $300m to Automate Chip Design with AI. Read now.
XSML Capital Raises US$142M for Fourth African Fund, Surpassing Target in Strong Vote of Confidence for SME Financing. Read now.
On Startup Spotlight:
Arone Technologies Is Building Aerospace and Energy Manufacturing Hub, Leading Nigeria’s Drone and Solar Future from Enugu
At a time when Nigeria continues to import most of its complex technology, from surveillance drones to solar storage systems, Arone Technologies, a startup in Enugu is building them locally. From autonomous cargo drones to modular solar energy systems, the company is betting that the country’s technological future will require factories as much as code.
That ambition has now received a major boost. Founded in 2018 by AI engineer Emmanuel Ezenwere, Arone Technologies, a Nsukka-based hard-tech startup has entered a ₦12.95 billion (approximately $9.52 million) partnership with the state-owned Institute of Management and Technology, Enugu (IMT).
Over the next four years, both partners plan to establish what they describe as Nigeria’s first tech manufacturing plant dedicated to defence, aerospace, robotics, artificial intelligence and renewable energy, an industrial hub embedded within the IMT campus.
“We’re building solutions that enable energy security and enable smart living,” Ezenwere said. “Our primary focus is energy security and artificial intelligence.”
Quadri Adejumo brings you all the details. Read here.
Also Read:
South Africa’s Kenai Secures Global Backing from Gallagher to Power the Future of Intelligent Workplace Security. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Quadri
