African Tech Startups Attracted $289 Million in January 2025
In January 2025, African startups raised $289 million, a 240% increase from $85 million in January 2024, marking the second startup fundraising campaign since the pandemic. The surge is driven primarily by equity financing, which makes up more than 90% of the capital, reflecting investors’ confidence in the continent’s technology ecosystem. The total number of four largest deals (the four major entrepreneurial hubs in the mainland) from Nigeria, Kenya, Egypt and South Africa accounts for nearly 60% of the total. These top investments are Powergen’s $50 million in scale for distributed renewable energy solutions, Lemfi’s $53 million aims to expand its fintech services to Asia and Europe, Naked’s $38 million Series B aims to expand Its product base, Enko Education’s $24 million is used to expand its $24 million. School network. This powerful fundraising performance marks a revitalized and diversified startup ecosystem that sets a promising tone in 2025 despite a decline in funding in 2023.
source: gairametrics
