Data Methodology

MAGNiTT’s proprietary database and software provides access to data from multiple sources: user-submitted data verified by MAGNiTT, aggregated public information, data engineered by MAGNiTT. All non-engineered data is verified and curated with an extensive manual process for inclusion in its analytic reports.


Startups and institutions list their proprietary information on their funding amount, stage, date, and investors directly onto the MAGNiTT platform. All funding data is validated through a rigorous process. To ensure comprehensiveness in the data, on a quarterly basis a follow-up with verified funding institutions on MAGNiTT occurs, requesting details on all their investments, including stage, amount, date, and other co-investors. This includes, and is not limited to, VCs, CVCs, angel groups, accelerators, university funds and family offices for MAGNiTT’s focus geographies.

We undertake a continued gathering of public announcements and press releases on the venture funding landscape across MAGNiTT’s focus geographies.

Engineered Data
Where information is incomplete or undisclosed, proprietary algorithms that tap into MAGNiTT’s databases are used to create estimates for undisclosed data with factors including but not limited to year of funding, location of startup, stage of investment and the company’s industry. 


Data is the foundation of thriving entrepreneurship ecosystems

Below is an outline of the approach and criteria used in MAGNiTT’s research analysis.


What is included: Equity financing into private companies. Funding rounds included must be to VC-backed companies. VC-backed companies are defined as companies that have received funding at any point from: venture capital firms, corporate venture arms, accelerator programmes, or Angel investors. Where disclosed Angel investments are made at early stages these deals are included once verified.


Excludes: It excludes debt or other non-equity funding, lending capital, grants and ICOs.


Exits: M&A and IPOs are treated as exits: excluded from funding data, but included in exit data. Exit types that are excluded from this report are buyouts and secondary rounds. 


Transaction date: Where provided the date of the transaction is based on the closing date of the round. Where this is unavailable, it is recorded as the announced date per public record.


Verified Rounds: To ensure accuracy and confidence in our data, MAGNiTT undertakes a verification process for each funding round based on the following process:

- Direct confirmation from the funding institution or investor

- Validated if there is a 3rd party source for the investment round from credible media sources or press releases.

- Various regulatory filings where applicable

- A round is not verified if it has none of the above 3rd party reference


Country HQ: In each of our venture reports, the location for which the data is analysed is based on the startup’s HQ as chosen and verified by the startup and reflected on the MAGNiTT platform. When analysing a particular geography, our research does not include:

- Investments in startups from diaspora founders

- Funding for startups who have their main HQ outside of our coverage with only a subsidiary or branch in that country


Primary Industry: In each of our venture reports, the industry by which the data is analysed is based on the startup’s Primary Industry (main operational focus) as chosen and verified by the startup and reflected on the MAGNiTT platform. When analysing a particular industry, our research does not include:

- Startups who’s secondary focus is that industry


Historical changes: We continue to improve historical data as we further verify our data sets and expand by geography while reaching out to new funding Institutions. Continued improvements in our technology and data operations will lead to more accurate and comprehensive data sets on the platform for our research analysis.


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