Mapped: The Top Female Founder in Each Country

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Companies with at least one female founder generate 78 cents of revenue for every dollar of venture funding, while male-led startups generate roughly 31 cents.

Yet, startups with only female founders receive just 3% of total invested dollars globally.

The above infographic from Business Financing explores the global landscape of female-led startups. It shows the top female founders according to the highest amount of capital raised, in each country profiled.

Global Rankings: The Top 10 Female Founders

Which female founders have received the most funding worldwide?

Based on data from Crunchbase, individuals were selected across 102 countries if they were a founder or co-founder of an active company as of May 21, 2020. Companies were selected depending on their status in seed, early stage venture, or late stage venture funding.

With $22 billion in funding, Lucy Peng, co-founder of Ant Group and Alibaba tops the list. Peng taught economics for five years before co-founding Alibaba with 18 others in 1999. Today, she is worth over $1 billion.

Peng’s 2.1% stake in Ant Group is estimated to be worth roughly $4.8 billion. Ant Group filed for an IPO worth an estimated $225 billion valuation in August 2020.

Following Peng is Rebekah Neumann, who has raised $19.5 billion with The We Company. Neumann studied business with a minor in Buddhism at Cornell, and later co-founded the gig-focused firm in 2010 with her husband Adam Neumann and Miguel McKelvey. Following the notoriously disastrous IPO of WeWork, she and her husband have since left the company.

Coming in third is Tan Hooi Ling who founded Grab in Singapore. The ride-hailing app is a major competitor of Uber in Asian markets.

Cristina Junqueira, who co-founded digital banking firm NuBank, also makes it into the top 10 list. Currently, NuBank operates as the largest fintech firm in South America, with over 20 million users. Meanwhile, Lithuania’s first tech unicorn, Vinted was co-founded by Milda Mitkute and serves as the largest secondhand clothing platform worldwide.

Unicorns Bucking the Trend

While funding for female-led startups has been disproportionately low over the years, the number of unicorns—private companies valued in excess of $1 billion—headed by women has grown over fivefold.

Since 2013, women-led unicorns have jumped from just four to 21 in 2019. While these numbers are still objectively quite small, they continue to climb.

Among the newly minted unicorns in 2019 was Airwallex, a company that allows businesses to track cross-border revenues. In April, the startup raised $160 million, valuing it at $1.8 billion.

Along with Airwallex, Scale, Glossier and The RealReal are also found on the list.

New Waves of Venture Capital

In 2019, 2,300 venture deal rounds included startups with at least one female founder. Of these, a number of startups raised over $100 million in funding in 2019 on a worldwide level.

Interestingly, funding data shows that women VCs are three times more likely than men to invest in women. This, coupled with the growing number of female partners at venture capital firms, is bringing a new perspective to tech financing.

At the same time, it’s opening up new markets. For instance, the $57 billion child care industry is largely overlooked by the VC world. San Francisco-based Winnie raised $9 million in funding in 2019, capitalizing on a marketplace specifically for parents.

Consumer products and markets focusing on solutions for women present areas of significant growth, particularly on a global level.

What’s Next For Female Founders?

While just a fraction of all venture funding is allocated to women-led companies, trends illustrate clear resilience.

Female-founded firms continually outperform—and shareholder returns are only getting better every year. As both startup and venture capital ecosystems continue to evolve, the future of women-led entrepreneurship is as bright as ever.

Visualizing All of Earth’s Satellites

For centuries, humans have looked to space and the stars for answers. The fascination is more than philosophical—it’s coupled with the need to solve problems here on Earth.

Today, there are seemingly countless benefits and applications of space technology. Satellites, for instance, are becoming critical for everything from internet connectivity and precision agriculture, to border security and archaeological study.

Space is Open for Business

Right now, there are nearly 6,000 satellites circling our tiny planet. About 60% of those are defunct satellites—space junk—and roughly 40% are operational.

As highlighted in the chart above, The Union of Concerned Scientists (UCS), determined that 2,666 operational satellites circled the globe in April of 2020.

Over the coming decade, it’s estimated by Euroconsult that 990 satellites will be launched every year. This means that by 2028, there could be 15,000 satellites in orbit.

With SpaceX’s planned Starlink constellation of 12,000 satellites and Amazon’s proposed constellation in the works, the new space race continues its acceleration.

Let’s take a closer look at who operates those satellites and how they apply their technology.

Technology with a Purpose

Humans have long used space for navigation. While sailors once relied on the stars, today we use satellites for GPS, navigation, and various other applications.

More than half of Earth’s operational satellites are launched for commercial purposes. About 61% of those provide communications, including everything from satellite TV and Internet of Things (IoT) connectivity to global internet.

Second to communications, 27% of commercial satellites have been launched for Earth Observation (EO) purposes, including environmental monitoring and border security.

Commercial satellites, however, can serve multiple purposes. One week, a satellite may be ‘tasked’ to image a contested border. It could later be tasked to monitor the reclamation of a mining site or even the aftermath of a natural disaster.

Government and civil purposes make up 21% of all of Earth’s operational satellites, and military purposes come in at 13%.

Who Owns Earth’s Orbit? Space Operators

SpaceX—founded by Elon Musk—is not only a disruptive launch provider for missions to the International Space Station (saving NASA millions). It’s also the largest commercial operator of satellites on the planet.

With 358 satellites launched as of April, part of SpaceX’s mission is to boost navigation capabilities and supply the world with space-based internet.

While the company operated 22% of the world’s operational satellites as of April, it went on to launch an additional 175 satellites in the span of one month, from August to September 2020.

Following its series of summer launches, SpaceX announced that it had deployed enough satellites to support the beta version of its satellite-based internet service, Starlink.

Every Commercial Satellite in One Table

Since December 2005, the UCS has compiled data on every operational satellite in Earth’s orbit. In the table below, you’ll find every commercial satellite in orbit, as of April 2020.

Cubesats, microsats, nanosats, and more—the new space race is all about small satellites.

With its flock of small EO satellites, or “doves”, Planet Labs now has more than 150 satellites in operation (however, in April 2020, the number exceeded 250, as per above data).

Even Amazon is preparing for space. In July of 2020, the FCC granted approval for Jeff Bezos’s tech empire to launch and operate an internet constellation of 3,236 satellites.

Nations that Dominate Earth’s Orbit

It may be no surprise that the United States, China, and Russia top the list of countries with operational satellites.

The U.S. and Russia (then the USSR) piloted the space race throughout the 1950s and 1960s. Both nations are found in the top three of current satellite operators, with the U.S. operating nearly half of all satellites—1,308 as of April 2020.

China trails the U.S. with approximately 356 satellites. Taking third spot, Russia has 167 satellites in operation, and the UK comes in at a close fourth with 130 satellites.

Collectively, the above five countries operate roughly 76% of the world’s satellites.

The New Space Race

Where the original space race was a nationalistic competition between Cold War rivals, the new space race is collaborative and commercialized.

Today, international cooperation allows for the deployment of satellites, as well as space-based science. Before SpaceX, NASA and the other space agencies that operate the International Space Station had been reliant on Russian Soyuz rockets for hundreds of missions.

With the success of its famed reusable rockets, SpaceX is on track to reduce launch costs by as much as US$6 million per flight—which is likely to support the proliferation of satellites in the coming years.

With improved technology and commercial partnerships, all signs point to a crowded orbit.

Correction: In the table, Intelsat was listed as having 36 owned satellites in operation. The correct number is 51.