Hardware startups in Nigeria have started making money, but there’s a catch
- The Nigerian hardware startup Humane failed to progress beyond the concept stage despite winning competitions.
- NEV Electric reported $14 million in revenue over 14 months and aims to reach $50 million in the next 15 months.
- Terrahaptix secured $2 million in orders for its drones and expanded its market by exporting to South Africa.
While the recent successes of NEV Electric and Terrahaptix are promising, the overall hardware ecosystem in Nigeria remains fragile. Continued investment in infrastructure and talent development is essential for sustainable growth in this sector. The government's role in fostering a supportive environment for hardware startups will be crucial in determining their future viability.
