🍔Quick Bite: Less than 5% of African startups that raised seed funding in 2022 have progressed to Series A by September 2024, highlighting a significant gap in the startup funding ecosystem. The gap is driven by investor demand for traction and scalability, which many startups struggle to meet.
🧠 The Breakdown
Raising funds for African startups, especially when transitioning from seed rounds to Series A, feels like playing a game on two different difficulty levels.
The harsh reality is that less than 5% of African startups that secure seed funding manage to progress to Series A. In 2022, for example, only 5 out of 105 seed-funded startups made it to the next level. That’s a staggering 95% that didn’t.
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Last updated: December 28, 2024
