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Kenya leads the pack as African startups secure $2.01B in 2024 funding, showing resilience and a shift toward sector diversification
In contrast to July's unsurpassed funding reports, August showed disappointment, as startup funding in the African sector hit an all-time low.
This figure marks a weighty decrease of about 50.2% compared to the $1.31 billion raised in H1 2023, according to data from BD Funding Tracker
West African private equity firm Verod has acquired a 65% stake in Nigeria's leading fitness chain i-Fitness from CardinalStone in a $12 million deal.
In the Table below, you can filter through our curated list of African startup deals for the years 2022, 2023 and 2024.
In November 2023, African startups secured $89.6 million in VC funding, across 17 announced deals. Per BD Funding Tracker, it is a 42.63% decline from the previous month.
In the last six years, Techstars Toronto has made 100 investments in startups across the globe. 40 of these investments are in Africa.
Closer collaboration between banks and fintech companies is a positive development and has the biggest potential to drive financial inclusion in Africa.
Venture capital (VC) funding in the Nigerian tech startup ecosystem declined by 92.1% in Q1 2023 compared to the same period in 2022.
BD Funding Tracker is a comprehensive data bank on venture capital in Africa. This is how we cover the real-time inflow of deals across the continent.
Filter through our curated list of African startup deals since the start of the year 2023.
Nigerian agritech, Releaf has secured $3.3 million pre-series A funding and has launched two new technologies to drive profitability for consumer goods manufacturers
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