Hello,
It’s been a while since I sent out a newsletter. I have been working on a number of things which i will hopefully be able to share with you guys in the coming weeks. I have seen your emails asking me about this newsletter and I am glad to let you know that it is back.
There hasn’t been much happening this week but I will like to highlight the report “Africa: The Big Deal” showing the distribution of startup funding across Africa in 2024. In the report, kenya took the top spot again attracting over $638 Million in funding in 2024.
Looking at the report, I noticed that even though Kenyan startups attracted the most funding collectively, individual funding rounds were not as high as those in Nigeria that saw startups like Moove and Moniepoint each raising over $100 million in a single round. I found this interesting as it looks like Kenyan startups attract the most funding but individual startups don’t raise the most money per round.
You should check out Africa: The Big Deal report to dive deep.
Startup Funding Rounds
We had only 9 funding rounds both by Egyptian startups with a total of $15.3 million raised.
South Africa’s phathisa.com raises $350,000 from Microsoft for Startups
The Awareness Company, a startup that uses data to tell stories that are useful to humans, raised $1.6 Million in seed funding.
Purple Elephant Ventures, the Kenyan venture studio, raised $4.5 Million in seed funding.
Faro, a South African startup that provides inexpensive apparel through re-commerce, raised $6 million in seed funding.
WashMinute from Morocco raised $600,000 in pre-seed funding.
Kenya’s Ilara Health raised $1 million in debt financing from the US International Development Finance Corp.
Spouts of Water from Uganda raised an undisclosed amount from DOB Equity.
South Africa’s Conservio raised $1 million in a pre-seed round.
Safi Organics, a startup providing quality organic fertilizers to farmers got $237,500 in technical assistance.
Active Investors
This week we had 1 investor who took part in more than one round and this was the US International Development Finance Corp who was involved in both Ilara Health’s round and Safi Organics’ technical assistance.
Appointments
Nutanix Appoints Chris De Vere as EMEA MSP Leader.
Opportunities and jobs
Applications Now Open for the 4th Edition of the Visa Africa Fintech Accelerator.
10 African Ventures Selected to Showcase Solutions at Africa Tech Summit Nairobi 2025
Other Stories
Mastercard Opens First Office in Accra.
Servercore Enables Seamless Cloud Migration for GoDeliveries.
Wentors Launches Wentors 2.0 to Empower Women in Technology.
Techstars and Merce Anders Launch Startup Community Catalyst Africa Botswana
Keep in Touch
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