African startups raised $652.4 million in H1 2024 as the downward funding trend continues

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

Lagos state govt injects ₦1 billion for startup funding and innovation research

₦1 billion in funding marks an astronomical increase in allocation to the initiative based on previous precedents.

Chowdeck CEO talks $2.5M seed funding and the Nigerian food delivery market

Last year, Chowdeck onboarded Chicken Republic, West Africa's largest fast-food chain. This move has led to an increase in order volume of 250% on Chowdeck.

Sim Shagaya launches The Honey Badger Fund (HBF) to back African entrepreneurs

Sim is popular for pioneering the e-commerce movement in Nigeria through his company, Konga which he founded in July 2012. He raised about $80 million with Konga pre-2020 when capital was scarce in the African tech ecosystem.

Verod buys i-Fitness stake for $12 million in PE Shuffle

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.

One year later, Moove is still doubling down on its Indian bet

Barely a year after expanding into India, Moove, a Nigerian mobility startup has secured $10 million to expand its vehicle financing offering to more cities.

In four charts: How African startups raised $74M in January 2023

In January 2024, African tech startups secured $74 million across 24 deals comprised of both equity and debt, according to BD Funding Tracker.

BD Funding Tracker 2024

In the Table below, you can filter through our curated list of African startup deals for the years 2022, 2023 and 2024.

Nigerian edtech Klas raises $1M eyes expansion into India and North America

Klas, a Nigerian edtech startup, secured $1 million in pre-seed funding. Its strategy involves scaling across Africa and extending its online teaching platform to India and North America.

UNDP launches $1 billion innovation fund to back African startups

The United Nations Development Programme has launched timbuktoo Initiative, a $1 billion innovation fund to invest in African startups.

Nigerian fintech, Bujeti secures $2 million seed round, led by YC

Nigerian fintech startup, Bujeti has secured a $2 million seed in a round led by Y Combinator

Pineapple secures record-breaking funding in South Africa’s insurtech sector

South African insurtech startup, Pineapple has raised $21.3 million Series B in a round led by Futuregrowth, Talent10 and MIC, with participation from Old Mutual ESD, Lireas Holdings, ASISA ESD Fund and E4E Africa.