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ICYMI: New #data from Africa: The Big Deal shows that African #startups raised US$420 million in July 2024, more than what was raised in the whole of Q2. It was also the highest monthly performance for the ecosystem in 14 months. Data courtesy of Max Cuvellier Giacomelli and Maxime Bayen. #ConnectingAfrica #AfricanStartups #StartupFunding #StartupNews Read the full article here: http://spr.ly/6049YcD3P

African Startups Collectively Raised $217 Million in February, With Nigeria Taking The Lead in Fundraising Efforts In February 2024, African startups bounced back from a slow January, experiencing a notable surge in funding, with Nigeria leading the pack in fundraising activities. As outlined in Africa: The Big Deal report, total startup funding in February soared to nearly $217 million, marking an impressive threefold increase compared to the previous month’s $77 million. While this rebound was significant, the report highlighted that funding levels still fell short of the figures observed during the same period over the past four years. Read More👇 #africanstartups #fintechfunding #bigdealreport #africa

Moove Takes the Lead in African Startups' $466 Million Fundraising Spree in Q1 2024. Nigeria's mobility startup, Moove, emerges as the frontrunner in Africa's startup ecosystem as the continent collectively raises $466 million in the first quarter of 2024. According to the latest Q1 2024 funding report by research firm Africa: The Big Deal, Moove led the fundraising efforts, securing a staggering $110 million. This accounts for 24% of the total funds raised by African startups during this period, with a significant boost from a $100 million Series B round led by Uber. The report indicates that out of 121 startups securing deals worth $100,000 or more, Moove stands out as the top performer. Notably, the $466 million raised marks a 27% decrease compared to the previous quarter and is only half of the amount raised in Q1 2023. 𝐌𝐨𝐨𝐯𝐞'𝐬 𝐃𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐚𝐧𝐝 𝐒𝐞𝐜𝐭𝐨𝐫𝐚𝐥 𝐓𝐫𝐞𝐧𝐝𝐬. Moove's remarkable performance highlights the dominance of the transport and logistics sector, which claimed the top spot in terms of total funds raised. With Moove's deals contributing nearly three-quarters of this amount, the fintech sector closely followed suit. Furthermore, the report underscores the significance of ClimateTech, representing 31% of $100,000+ deals and 27% of the total amount invested, demonstrating a growing emphasis on sustainability-focused ventures. 𝐄𝐪𝐮𝐢𝐭𝐲 𝐯𝐬. 𝐃𝐞𝐛𝐭 𝐚𝐧𝐝 𝐆𝐞𝐧𝐝𝐞𝐫 𝐃𝐢𝐬𝐩𝐚𝐫𝐢𝐭𝐢𝐞𝐬 In terms of funding mechanisms, equity accounted for the majority of disclosed funding, representing 71%, while debt made up the remaining 29%. However, the report highlights a concerning trend of funding disparities, with less than 1% allocated to startups without at least one male founder and only 6.5% to female CEOs. #Moove #AfricanStartups #Fundraising #NigerianStartups #Moove #AfricanStartups #Fundraising #TechNews

Nigeria Captures Only 14% of African Startup Funding in August 2024, Contributed by A Single Funding Round A single funding round by Nigerian fintech Waza significantly contributed to Nigeria’s 14% share of the $56 million raised by African startups in August 2024, according to a new report from research firm ‘Africa: The Big Deal.’ August 2024 saw a steep 87% drop in startup funding compared to July’s $443 million record, making it the second-slowest month in four years, after June’s $42 million. Notably, 87% of the funds raised were in equity, with 9% in debt and 4% in grants. Read more👇🏼 #startupfunding #Nigeriafunding #africa #africathebigdeal https://lnkd.in/d_EFyrUq

Newsbite | According to data from Africa: The Big Deal, Kenya has emerged as the leading African country in startup funding, raising USD 437 million, representing 31 percent of total funds raised on the continent. The growth highlights the strong preference for Kenyan startups among global investors, driven by the country’s strategic location, fast internet speeds, and favourable policies. Kenya’s robust startup ecosystem has positioned it ahead of Egypt, which raised USD 373 million during the same period. Together, Kenya and Egypt account for 58 percent of the total startup investments in Africa. Read more: https://lnkd.in/d28NanGW #AfricanStartUps #UnlockingInvestment #BusinessGrowth #StartupEcosystem #Kenya #Africa #ALNnewsbite

African Startup Funding Declines Over 50% YoY to $780 Million in H1 2024. Startups across Africa raised $780 million between January and June 2024, a 31% decline compared to H2 2023 figures and an even starker 57% decline compared to H1 2023. This decline continues a downward trend that began in 2023 when Africa's technology startups raised $3.5 billion across 547 deals, a 46% decline compared to the previous year[2022]. Key takeaways: 💰Two-thirds of the funding was in the form of equity, while a third was debt. 🧳 4 out of 5 dollars went to startups in the "Big Four" markets: Kenya, Nigeria, Egypt, and South Africa. Kenya alone secured a third of the total funding. 🚛 Transport & Logistics was the top-funded sector at 28%, driven by deals like Moove and SPIRO. #FintTech came in second but led in the number of startups raising $1M+ 👬🏾 Only a tiny fraction of funding went to female-founded startups, with 85% going to all-male founding teams and 92% to male CEOs. The decline in startup funding continues the downtrend witnessed in 2023. However, the resilience of African startups is evident. By supporting diversity and innovation, we can help the ecosystem weather the storm and emerge stronger. One way of doing that is to double down on building sustainable businesses. Peter Ndiang'ui, Harry Hare, Kamau Kunyiha, Moses Kemibaro, Fred Kithinzi, Serah Mwikali Katusya Read more: https://lnkd.in/dGptrGdu #AfricanStartups #VentureCapital #FundingTrends

FUNDING | African Startups Raised $180 Million in November 2024 – a 29% Decline from ...: FUNDING | African Startups Raised $180 Million in November 2024 – a 29% Decline from October 2024 · MILESTONE | South African Challenger Bank, ...

Launch Africa Ventures Fund II Gains Momentum with $4.3 Million Invested. Since its inception, the firm has made notable impacts by investing in 133 startups across 22 African countries through its first fund, which closed at $36.3 million in March 2022. Launch Base Africa's approach focuses on identifying startups with diverse founding teams, strong growth potential, and the ability to address substantial market opportunities. This strategy has led to investments in a wide range of sectors, including fintech, e-commerce, healthtech, and clean energy, reflecting the richness and diversity of the African startup landscape. Building on the success of its first fund, Launch Africa introduced its second fund, Launch Africa Ventures Fund II, with an ambitious target of $75-100 million. Already, Fund II has deployed $4.3 million across 16 diverse startups in 11 African countries, demonstrating Launch Africa's ongoing commitment to fostering innovation and growth. The portfolio of Fund II includes 16 promising startups such as Servisor in South Africa, Lengo AI in Senegal, Logistify in Kenya, and Periculum in Nigeria, Bosso in Zambia, Zuri in the DRC, Meditect in Ivory Coast, Viebeg in Rwanda, Wahu Mobility Ltd. from Ghana and an undisclosed Egyptian e-health startup. Find out more: https://lnkd.in/dHP9EHKA #Startups #Africa #Tech #AI #Funding

🚀 Breega Raises $75M for Africa’s Startup Ecosystem! Exciting news out of Paris - Breega has successfully raised $75 million for its Africa-focused fund! This significant capital is set to fuel the growth of innovative startups across fintech, healthtech, and e-commerce sectors on the continent. Having actively invested in Africa since 2017, Breega has backed several success stories such as Nigeria's fintech powerhouse TeamApt and Kenya's healthtech trailblazer Medsaf. With this new fund, Breega aims to expand its impact by supporting these companies' growth and identifying new transformational ventures. 🌍✨ Breega's Managing Partner, Francisco Gonzalez-Palenzuela, shared: "We are excited to continue our journey in Africa, where we have seen tremendous growth and potential." It's inspiring to see such investment flows into Africa, a continent with a rapidly growing economy and a burgeoning startup ecosystem. Other notable funds include Knife Capital’s $100M and Ventures Platform’s $50M. 📈💡 A question for my network: What innovative solutions from African startups do you think have the potential to lead globally? Share your thoughts below! 👇 #VC #StartupFunding #Africa #Innovation #Fintech #Healthtech #Ecommerce #StartupEcosystem

FUNDING: African Startups Funding Down ~4x in August 2024 – The Second Slowest Month in 4 Years The worst month in #funding raised over the last 4 years was June 2024 at only $42 million. Only 27 #startups announced funding in August 2024, way below the average established in the last 12 months of 40+. https://lnkd.in/d95DCNTy