22 On Sloane Rolls Out AI Matching Service KUMii as AI Secures Nine‑in‑Ten Late‑Stage Venture Dollars

AI Concentration and Regional Imbalance

Close to nine in ten late‑stage venture dollars are now flowing into artificial‑intelligence companies.

About two‑thirds of the rebound in global startup ecosystem value over the past year landed in three U.S. cities.

Jonathan Ortmans, founder and president of the Global Entrepreneurship Network, highlighted these figures at the opening of the GEC+Africa Summit in Cape Town.

“Never has the entrepreneurial economy created more value,” he said.

“But never has it created that value in so few places.”

Ortmans argued that the concentration is a result, not a law, and therefore can be altered.

Introducing KUMii: An AI‑Powered Matching Layer

Against this backdrop, African startup support organisation 22 On Sloane launched KUMii, an AI‑driven platform that links entrepreneurs with funding, markets, mentors, learning resources and business tools.

KUMii also announced that Sloane Capital is raising one billion rand (approximately $63 million) to finance startups and MSMEs across the continent.

The fund has secured a Category II licence and a National Credit Regulator licence.

KUMii’s core functions include AI‑generated business profiles that match companies to relevant investors and opportunities.

The platform offers market‑access tools that connect businesses to tender and procurement openings.

It provides business‑readiness utilities for drafting plans and preparing for capital raises.

Mentorship, learning modules and access to business software are also bundled into the service.

More than 4,000 startups and MSMEs have registered on KUMii, according to 22 On Sloane.

“Funding and finding customers is often fragmented,” said KUMii chief executive Norma Ngobane.

“Entrepreneurs are navigating multiple platforms and different environments to find the right support, funding and customers.”

Kizito Okechukwu, executive head of 22 On Sloane, described the situation as a structural contradiction.

“The continent holds immense structural opportunity, yet this opportunity is consistently constrained by internal and external fragmentation,” he explained.

He added that financial instruments themselves need redesign to ensure capital reaches every entrepreneur who needs it.

Funding Landscape, Matching Efficiency, and Performance Metrics

KUMii functions as a discovery and matching layer, while Sloane Capital supplies the actual capital.

iAfrica reported that only 190 African startups raised at least $100,000 in the first half of 2026, the lowest count since 2021.

The $100,000‑to‑$500,000 funding band contracted sharply during the same period.

Digital Africa chief executive Grégoire de Padirac noted that AI‑native companies accounted for under 2 % of continental startup funding.

Better matching against a shrinking pool could improve the odds of entrepreneurs reaching a closed door faster.

Ortmans warned that ecosystem interventions often measure activity rather than real performance.

“Ultimately, we’re not necessarily measuring real performance. We’re measuring too much activity,” he said.

The 4,000 registrations on KUMii represent an activity metric.

The performance metric will be how many of those businesses secure funding, win a tender or close a customer through the platform.

22 On Sloane has not yet published those outcome figures.

On a fragmented continent, the true test of KUMii will be its ability to translate matches into tangible deals.

Why This Matters