New Investments

Amenli, an Egyptian insurtech startup, has raised $2.3 million in funding to accelerate its growth and enhance its service offerings.

Shyft Power Solutions, a Nigerian leader in digital energy solutions known for its community-metering innovations, has been acquired by UK-based energy revenue management company SteamaCo.

Lingawa, a Techstars-backed edtech startup, has announced a strategic pivot from academic tutoring to African language learning, reflecting its mission to preserve and promote native languages.

Ten promising startups have been selected to compete in the African final of the prestigious Latitude59 competition.

South African private equity firm Sanari Capital has announced a significant R87.5 million (approximately $5 million) investment in Energenic Holdings, a leading provider of energy generation products and solutions operating in over 32 African countries.

WaterEquity, a global asset manager committed to advancing water and sanitation solutions through private investment, has successfully raised over $100 million for its new initiative, the Water & Climate Resilience Fund.

Kenya has made a significant stride in building a responsible and inclusive artificial intelligence (AI) ecosystem with the introduction of the UK-Kenya AI Challenge Fund.

Incofin, through its Water Access Acceleration Fund (W2AF), has announced a $3 million investment in Spouts International, a leading East African manufacturer and distributor of ceramic water filters under the Purifaaya brand.

Google has unveiled the latest cohort of startups selected for the 2024 Google for Startups Accelerator Africa program, reinforcing its commitment to fostering Africa’s growing tech ecosystem.

Bootstrap Europe, a Luxembourg-based growth debt fund, is set to expand its operations into Africa.

Egyptian interior design platform Efreshli has raised an undisclosed seed funding round to enhance its offerings and expand its product line.

Standard Chartered Bank and British International Investment (BII), the UK’s development finance institution, have signed a $350 million risk participation agreement aimed at supporting the trade finance needs of small and medium-sized enterprises (SMEs) and corporates in Africa and South Asia.

The UK government, in partnership with FSD Africa, has unveiled a KSH 667 million ($5.2 million) initiative to improve financing access for small and medium-sized enterprises (SMEs) in Kenya.

Specialist agricultural investor AgDevCo has announced a $9.5 million mezzanine loan investment in Agventure, a Kenyan farmer-owned business pioneering regenerative agriculture in non-irrigated cereal-based systems.

Startupbootcamp, Mara Group, and Blend Financial Services have announced plans to launch a $250 million fund aimed at accelerating the growth of African technology startups.

The African Development Bank Group has announced a $75 million financing package to support Export Trading Group (ETG), a Mauritius-based conglomerate with extensive operations throughout Africa.

The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both part of the World Bank Group, have joined forces with Morocco’s Tanger Med Port Complex in a significant expansion project for its truck and passenger terminal.

African startups have been invited to apply for the prestigious New Venture Competition organized by Harvard Business School’s Africa Business Club.

Beacon Power Services (BPS), an innovative energy technology company, has successfully secured funding through a Series A financing round.

Mastercard and Diamond Trust Bank (DTB) have entered into a significant 10-year agreement aimed at expanding digital payment solutions across Kenya, Uganda, and Tanzania.

Visa has announced investments in four fintech startups that recently graduated from its Africa Fintech Accelerator program.

British International Investment (BII), the UK’s development finance institution, has unveiled a $150 million trade facility with Absa Group.

Janngo Capital, an African venture capital firm, has successfully closed its second fund at $78 million, exceeding its initial goal of $63 million by 20%.

Egyptian firm Raya Foods has secured a $40 million investment from Helios Investment Partners.

Oyster Agribusiness, a Ghana-based agri-tech firm championing climate-smart agriculture, has successfully raised $2 million in funding to scale up its operations and strengthen the resilience of the country’s agricultural sector against climate challenges.

Google has announced a $5.8 million initiative to strengthen artificial intelligence (AI) training and skills development in sub-Saharan Africa.

Twenty African tech ventures—comprising 10 startups and 10 scale-ups—are set to pitch their innovations to potential investors at the upcoming Angel Fair Africa event in Nairobi, Kenya, on November 7-8.

British private equity firm Development Partners International (DPI) has led a $110 million investment in Nigerian fintech Moniepoint, elevating the company to unicorn status.

South African investment firm Edge Growth has successfully raised $2.1 million through the ASISA Enterprise and Supplier Development (ESD) Fund to further empower growth-stage small and medium enterprises (SMEs).

Kenyan clean cooking appliance manufacturer BURN has announced a $15 million investment deal with the European Investment Bank (EIB) to support the distribution of its ECOA Electric Induction Cooker across East Africa.

South African e-commerce logistics firm Pargo has secured $4 million in funding to fuel its expansion into Egypt, where it has introduced over 500 “Pargo Points” to enhance delivery options.

BasiGo, a prominent provider of electric bus solutions in sub-Saharan Africa, has successfully secured $42 million in new capital.

The African Development Bank (AfDB) has approved a $100 million loan to support youth and women-led micro, small, and medium enterprises (MSMEs) in Nigeria through the Youth Entrepreneurship Investment Bank (YEIB) initiative.

Aya Data, a Ghanaian artificial intelligence (AI) startup, has successfully raised $900,000 in a seed funding round led by 54 Collective, with additional contributions from several angel investors.

Grid Africa has secured a significant equity investment of $2.8 million from Rifuwo Energy Partners to accelerate its renewable energy projects across South Africa.

Lapaire, a fast-growing African eyewear startup, has secured significant financial backing from AfricInvest and Proparco to expand its optical care services across the continent.

Yellow Card, a leading fintech company in Africa, has raised $33 million in a Series C funding round aimed at enhancing its operations and driving expansion across the continent.

Kenyan startup Octavia Carbon has successfully raised $5 million in seed funding to advance its innovative direct air capture (DAC) technology, which aims to remove carbon dioxide (CO2) from the atmosphere using geothermal resources, particularly waste heat.

Egypt-based micromobility startup Rabbit Mobility has successfully secured $1.3 million in a fresh investment round aimed at accelerating its expansion across Egypt and North Africa.

The International Finance Corporation (IFC) has committed up to $25 million to Acumen’s Hardest-to-Reach (H2R) Fund, a $200 million initiative aimed at improving energy access in underserved regions of Sub-Saharan Africa.

Waribei, a fintech startup based in Ivory Coast, has successfully secured €750,000 ($820,462) in pre-seed funding to advance its innovative inventory financing solution designed for small traders across Africa.

AfricInvest, a prominent pan-African investment platform, has successfully closed its Transform Health Fund (THF) at $111 million, surpassing its original target.

Bpifrance, the largest venture capital (VC) firm in France, has recently expanded its footprint into Egypt as part of its broader strategy to penetrate the Africa and Middle East (AME) regions.

Equator Africa, a venture capital firm, has secured an additional $5 million from the International Finance Corporation (IFC) to support businesses and foster innovation within Africa’s climate tech sector.

A consortium of leading institutions, including the SA SME Fund, the Department of Science and Innovation (DSI), the Technology Innovation Agency (TIA), and E Squared Investments, has launched a R300 million (approximately $17 million) seed fund aimed at supporting tech startups in South Africa.

AMAKA Studio has raised $2 million in seed funding, aimed at advancing its mission of empowering Black and African creators worldwide.

ARISE Integrated Industrial Platforms (ARISE IIP), a leading developer and operator of industrial parks across Africa, has successfully raised $443 million in new capital to fuel its expansion efforts.

South African fintech startup LittleFish has successfully closed its seed investment round, with TLcom Capital leading the financing and Flourish Ventures participating as a co-investor.

Winich Farms, a Nigerian agritech startup, has announced the successful completion of a $3 million pre-Series A funding round aimed at addressing the challenges faced by smallholder farmers in Nigeria.

The Central Bank of Egypt (CBE) is set to unveil a groundbreaking initiative aimed at boosting investments across the African continent.

Ecobank, a pan-African financial services group, has named Daba Finance, an Ivorian fintech company, as the Grand Winner of the 2024 Ecobank Fintech Challenge.

Itana and the Africa Finance Corporation (AFC) have entered into a formal partnership to develop Africa’s first digital economic zone.

Yellow Malawi, a leading solar energy distribution company, has secured a $2 million investment from Acumen’s Hardest-to-Reach (H2R) initiative.

Next Narrative Africa, a Nigerian media production company, and HEVA Fund, a Kenyan-based investment firm, have announced the launch of a $40 million fund aimed at supporting African filmmakers.

Three African venture capital (VC) fund managers—First Circle Capital, SpeedInvest, and Knife Capital—have been honored with prestigious awards for their exceptional efforts in supporting entrepreneurs and startups across the continent.

Vantage Capital, a leading African fund manager, has announced the closing of a €14 million mezzanine investment in Société de Production Maraîchère Samir (SPMS), a Moroccan agricultural company.

Morocco’s OCP Group has joined forces with the International Finance Corporation (IFC) to launch a €100 million initiative aimed at combating water scarcity and improving food security in Africa.

Kwiks, a leading Moroccan human resources technology (HRtech) platform, has secured a significant funding boost of $827,000 from Azur Innovation Management (AIM).

Uganda’s Agent Banking Company (ABC) has received a significant investment from Goodwell Investments, a Netherlands-based impact investor. This marks Goodwell’s entry into Uganda’s financial inclusion sector.

Coca-Cola has announced plans to invest $1 billion in its Nigerian operations over the next five years.

Userguest, a Moroccan tech startup that helps hotels optimize their direct revenue, has secured €2.2 million (approximately $2.4 million) in seed funding.

Farid, a pioneering Egyptian edtech startup, has successfully secured $250,000 in pre-seed funding from Saudi entrepreneur Amal bint Abdulaziz Al-Ajlan.

Uncap, a venture capital firm operating in Munich and Nairobi, has announced the launch of a $33 million fund aimed at supporting the growth of small and medium-sized enterprises (SMEs) across Africa.

Egypt-based B2B payment platform, SETTLE, has secured $2 million in a pre-seed funding round.

Foodpreneurs Hub, a Nigerian-founded foodtech platform, has announced a successful pre-seed funding round of $500,000.

South African fintech startup Happy Pay has secured R32 million ($1.8 million) in pre-seed funding to fuel its growth and expand its Buy Now, Pay Later (BNPL) offerings.

Algeria-based edtech startup LabLabee has secured $3.4 million in seed funding to accelerate the adoption of 5G, cloud, and AI technologies in the telecom and industrial sectors.

The Mastercard Foundation has announced a significant expansion of its partnerships with the Campaign for Female Education (CAMFED) and the Forum for African Women Educationalists (FAWE) to support young women and girls in Africa.

Nigerian healthtech company, Field, has introduced a groundbreaking service aimed at addressing critical health challenges in maternal mortality, newborn and child health, and nutrition.

Egypt-based fintech startup Paymob has announced a successful extension of its Series B funding round, securing an additional $22 million.

FSDAi Nyala Facility BV, a venture established by FSD Africa Investments, has announced a US$1 million investment in First Circle Capital Africa Fund I.

Early-stage venture capital firm Launch Africa Ventures has launched its Mezzanine Impact Fund, a new initiative aimed at providing growth capital to technology companies in Africa and the Gulf Cooperation Council (GCC) region.

Standard Chartered Bank and WomHub have announced the launch of the second Women in Tech (WiT) Incubator Programme in South Africa.

Applications Open for Timbuktoo HealthTech Accelerator Program Offering $100K to Transform Healthcare in Africa

South African startup Omnisient has secured $7.5 million in Series A funding to accelerate its growth and expand its privacy-preserving data collaboration platform across Africa and beyond.

Rwandan electric motorcycle manufacturer Ampersand has announced a $2 million Series A extension, bringing its total funding to $21.5 million.

Kenyan social commerce startup, Sukhiba Connect, has secured a $1.55 million seed extension round, bolstering its efforts to expand its WhatsApp-based commerce platform across Africa and emerging markets.

Ghanaian-Ugandan fintech platform, Fido, has announced a significant boost to its operations with the successful acquisition of $10 million in Series B funding.

Uganda Telecommunications Corporation Limited (UTel) is poised to receive a significant financial boost with a $225 million investment from Rowad Capital Commercial (RCC) LLC.

Untapped Global, a leading impact investment firm, has announced a strategic investment in ElimuTab, a Kenyan educational technology startup.

Kenya-based HR and payroll platform Workpay has secured a $5 million Series A funding round led by Norrsken22.

Egypt-based climate-tech startup, NoorNation, has secured an undisclosed investment from KBW Ventures, a venture capital firm founded by Saudi Prince Khaled bin Alwaleed.

Egypt’s T-Vencubator, a prominent venture capital firm and incubator, has unveiled its initial investment program, which aims to back five startups by 2025.

Waza, a Nigerian fintech startup specializing in B2B payments and liquidity solutions for emerging markets, has raised $8 million in a combination of equity and debt financing.

Ecobank, a leading pan-African banking group, has unveiled the twelve finalists vying for the US$50,000 grand prize in its seventh annual Fintech Challenge.

The KawiSafi Fund is set to receive a significant boost of $10 million from the African Development Bank Group (AfDB) to support climate-focused businesses in Africa.

Open Access Energy (OAE), a South African energy management software startup, has secured a substantial boost to its operations.

Seven promising South African tech startups have been chosen to participate in the third Irish Tech Challenge South Africa.

South African startup accelerator, Founders Factory Africa, has undergone a significant transformation, rebranding as 54 Collective.

Lucky ONE, an Egyptian fintech specializing in consumer credit, has successfully raised $3 million in a convertible bond funding round.

African Infrastructure Investment Managers (AIIM), Africa’s largest dedicated sustainable infrastructure equity manager, has successfully closed its fourth pan-African infrastructure fund, African Infrastructure Investment Fund 4 (AIIF4), with a total of USD748 million raised.

Egyptian fintech startup Qardy has announced a significant boost to its operations after securing a seven-figure US dollar pre-seed investment.

Venture Capital firm HAVAÍC has successfully raised $15 million in commitments for its third African Innovation Fund, marking the first close of the $50 million fund.

The International Finance Corporation (IFC), Proparco, and Helios Sports and Entertainment Group have announced a strategic partnership to drive growth in Africa’s sports and entertainment sector.

Synapse Analytics, an Egyptian artificial intelligence (AI) startup, has secured a $2 million investment to expand its AI-powered solutions across the Gulf Cooperation Council (GCC) and Africa.

Chinese electric vehicle (EV) manufacturer, Chery, has announced a $20 million investment in Kenyan auto dealer, Afrigreen Automobile.

Egyptian ed-tech startup Educatly has raised a $2.5 million funding round led by TLcom Capital and Plus VC, with participation from Egypt Venture and Ireland’s HBAN syndicate.

The World Bank has pledged a $100 million investment to accelerate Zambia’s digital transformation through the Digital Zambia Acceleration Project (DZAP).

Cartona, one of the leading B2B e-commerce platforms in Egypt, has successfully raised an additional $8.1 million in a Series A extension round, bringing the total Series A funding to $20.1 million.

The first half of 2024 marked a challenging period for African startups, with a substantial decline in total funding compared to H1 2023.

Arise IIP and Africa Finance Corporation (AFC) have joined forces to establish a $100 million fund dedicated to supporting African entrepreneurs.

Intron Health, a pioneering Nigerian health-tech startup, has successfully raised $1.6 million in a pre-seed funding round led by Microtraction.

Village Capital, a global nonprofit investor in early-stage companies, has announced investments in Kenyan startup Aquarech and Nigerian startup Coamana.

One Acre Fund, a social enterprise empowering smallholder farmers in East Africa, has secured a $1.4 million investment from Impact Bridge Asset Management.

Aruwa Capital Management, a leading early-stage growth equity fund, has announced a follow-on investment in AgroEknor, a prominent hibiscus flower exporter and wellness brand.

Dutch development finance institution FMO has announced a $10 million investment in the Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA).

Fintech startup, Sycamore, has emerged as the grand winner of the second edition of the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation, securing a $100,000 prize.

South African climate-tech startup, Plentify, has successfully concluded an oversubscribed funding round, securing investment from prominent African and North American venture capitalists.

Egyptian fintech company MNT-Halan has successfully raised $157.5 million in new funding to accelerate its expansion beyond its home market.

Logidoo, a Pan-African logistics startup, has received a $50,000 grant from the International Development Research Centre (IDRC).

TerraPay, a digital payments platform focused on Africa, has announced a $95 million debt financing round to accelerate low-cost remittance transactions across the continent.

d.light, a leading provider of affordable solar solutions, has secured a $176 million debt financing deal to expand its reach in Kenya, Tanzania, and Uganda.

Dopay, a fintech platform focused on providing digital payroll and payment solutions to the unbanked and underbanked workforce in emerging markets, has successfully raised $13.5 million in a Series A extension round.

Access Bank Plc, Nigeria’s largest bank by assets, received a $30 million loan from Swedfund, a Swedish development finance institution, to support small and medium-sized enterprises (SMEs) in the country.

South African travel technology company TurnStay has secured a $300,000 funding round from DFS Lab and Digital Currency Group (DCG), both headquartered in the United States.

Kenyan climate tech startup Bio-Logical has secured $1.3 million in funding to boost its Mount Kenya biochar production facility.

West Africa-focused fund manager Oasis Capital Ghana has secured $33.3 million in initial commitments for its new $100 million Oasis Africa Fund II (OAF II).

Sanari Capital, a private equity firm focused on African growth companies, announced an R80 million (approximately $4.4 million) follow-on investment in EduLife Group, a network of independent schools in South Africa.

Uncover, a Kenyan innovator in personalized skincare, has secured $1.4 million in seed funding to fuel its expansion into the United States, Ghana, and Uganda.

Kenya’s push for green transportation has received a significant boost with a $307 million investment from Norwegian investment fund Norfund.

BasiGo Rwanda has secured a significant grant to upgrade its charging infrastructure and support its growing fleet of electric buses in Kigali.

Eleven African nations are set to receive a share of a $16.2 million project aimed at establishing National Broadband Mapping Systems.

Six African tech startups have been chosen as finalists for the “Meet the Tôshikas” program, a joint initiative by the United Nations Development Programme (UNDP) and Japan’s Ministry of Economy, Trade and Industry (METI).

Innovate Africa, a newly established angel investment fund, has begun operations with an initial commitment of $2.5 million.

The United Nations Development Programme (UNDP) has partnered with African governments and private sector leaders to launch a groundbreaking initiative aimed at supercharging innovation and entrepreneurship across the continent.

NuRAN Wireless, a leading provider of mobile and broadband wireless infrastructure solutions, has secured a $5 million loan facility with Cygnum Capital’s Facility for Energy Inclusion (FEI) to accelerate its network deployment in Africa.

Tanzanian fintech startup NALA has secured $40 million in a Series A funding round, one of the largest of its kind in Africa according to TechCrunch.

Ten African startups have been chosen to receive funding as part of the Africa Blue Wave and Regen Wave initiatives, a collaborative effort to unlock solutions for a sustainable future.

Luxembourg-based climate insurance innovator Ibisa has secured $3 million in funding to accelerate its expansion in Africa and Asia.

Norfund, a Norwegian investment management company focused on developing markets, announced a $20 million commitment to the Apis Growth Markets Fund III.

El Kheta, an Egyptian online learning platform, has secured a significant investment of US$400,000 from EdVentures, Nahdet Misr Group’s venture capital arm.

South African digital banking leader TymeBank has secured $77.8 million in a pre-Series C funding round.

The International Renewable Energy Agency (IRENA) has welcomed Africa50, a pan-African infrastructure and investment group, as a new partner in its Energy Transition Accelerator Financing (ETAF) platform.

The Democratic Republic of Congo (DRC)’s eastern region is set for a significant boost in electricity access thanks to a new project by Congo Energy Solutions (Nuru).

CityBlue Hotels, a leading African hospitality chain, has announced a strategic investment in Farm to Feed, a B2B platform tackling food waste in Sub-Saharan Africa.

Blueroomcare, a Nigerian startup offering insurance-covered online therapy services, has secured an undisclosed amount of pre-seed funding.

Finnish development financier Finnfund has announced a $5 million mezzanine loan to Communication & Renewable Energy Infrastructure (CREI) to support the installation of hybrid power solutions for telecom sites in South Sudan.

Two Rivers International & Innovation Centre (TRIFIC SEZ), a unique services-oriented business park within Nairobi’s diplomatic zone, has secured a $47.5 million investment from Vantage Capital, Africa’s largest mezzanine fund manager.

The European Bank for Reconstruction and Development (EBRD) is injecting up to $40 million into SPE Capital’s newly launched SPE PEF III fund.

Social impact investor Oikocredit has provided a first-time loan of $10 million to AfricInvest Private Credit (APC) to empower small and medium-sized businesses (SMEs) across Africa.

Early-stage VC firm Launch Africa Ventures has invested a total of US$4.3 million in 16 startups in Africa as part of its second fund.

Connect Money, an Egyptian fintech company specializing in Banking-as-a-Service (BaaS), has successfully closed its seed funding round at $8 million.

WIOCC Group, a provider of high-capacity internet connectivity in Africa, has secured over $50 million in funding from a consortium of international institutions.

Downforce Technologies, a leading climate tech company, has secured $4.2 million in funding to develop advanced soil health solutions specifically tailored for the African agricultural sector.

South African biotechnology company Immobazyme, founded in 2019 as a spin-off from Stellenbosch University, has secured $1.3 million in a recent funding round.

European venture capital firm Breega, known for its early-stage investments, has announced the launch of its first Africa-dedicated fund, “Breega Africa Seed I.”

Pan-African private equity firm Inspired Evolution has announced the second closing of its Evolution III fund, raising capital to support clean energy projects across the continent.

Candi Solar, a Swiss clean energy company, has secured $38 million in funding to accelerate its solar power solutions for commercial and industrial (C&I) customers in Africa and India.

Kenyan mobile operator Safaricom has partnered with fintech company Pezesha to offer micro-loans to users of its Pochi La Biashara business payment service.

Noki Noki, a fast-growing Congolese logistics company specializing in food delivery and grocery shopping assistance, has secured $3 million in seed funding.

Africa Data Centres, a leading provider of data center services in Africa, has secured $108.9 million in funding to expand its capacity in South Africa.

AgDevCo, a specialist investor in African agriculture, has announced a new investment in Cashew Coast, a leading cashew nut processing business in Côte d’Ivoire.

Renew Capital, a leading impact investor focused on Africa’s high-growth enterprises has announced a strategic investment in Zuri, a fast-rising beauty brand determined to transform the African beauty landscape.

The International Finance Corporation (IFC), a member of the World Bank Group, is considering a significant investment in a Moroccan venture capital fund that targets emerging technology companies in North and West Africa.

South African nurse-led primary healthcare clinic chain Alma Clinics has secured $2.8 million in funding from investment firm IDF Capital’s Alitheia IDF Fund (AIF).

Potcast Productions, a leading Egyptian podcast producer founded in 2020, has secured an undisclosed amount of pre-seed funding.

Johannesburg’s digital bank, TymeBank, is close to securing $150 million in a Series D funding round, aiming to solidify its position as Africa’s fastest-growing player.

Egyptian fintech company Sahl has secured $6 million in funding to solidify its position as a one-stop shop for household bills in collaboration with government agencies.

Egyptian healthtech company i’SUPPLY has secured an undisclosed amount of funding in a pre-Series A round to fuel its expansion plans and bolster its offerings for small and medium-sized pharmacies.

Mastercard has announced a $2.04 million investment in a partnership with Wowzi, Africa’s leading influencer marketing platform, and Masria Digital Payments (MDP) to empower African creators.

The European Investment Bank’s (EIB) global development arm, EIB Global, has committed €25 million to Amethis Fund III, a pan-African private equity fund.

Elevate, a fintech company specializing in US banking services for non-resident remote workers, announced today the closing of a $5 million equity-debt pre-Series A funding round led by Negma Ventures, a Dubai-based investment firm.

LAfricaMobile, a leading provider of cloud communication and mobile marketing solutions, has secured €4.3 million in Series A funding.

YoLa Fresh, a Moroccan agritech startup that connects smallholder farmers directly with traditional fruit and vegetable retailers, has secured $7 million in pre-Series A funding.

Orange Ventures, the investment arm of Orange Group, and Digital Africa, a pan-African organization fostering digital entrepreneurship, have announced a new co-investment initiative for startups emerging from the “Orange Digital Centres” network.

Orca, a South African startup tackling fraud in emerging markets, has successfully secured $550,000 in a pre-seed funding round.

The US International Development Finance Corporation (DFC) has unveiled a new $250 million financing package aimed at enhancing digital connectivity and e-mobility in Kenya.

OneOrder, a leading Egyptian logistics company, has secured $16 million in a Series A funding round.

Tech giant Microsoft has announced a $70 million investment in the South African economy over the next decade.

A landmark digital transformation initiative for Kenya has been announced, with Microsoft and UAE-based artificial intelligence (AI) leader G42 pledging an initial investment of $1 billion.

TowerCo of Africa Tanzania (TOA Tanzania), a telecommunications infrastructure provider, has signed a $30 million financing agreement with British International Investment (BII) to bolster its network across the country.

Glint, a prominent Egyptian venture capital firm, has secured an initial $3 million for its second fund, targeting early-stage startups.

South Africa’s Free State province is taking a major leap towards electric mobility with a $234 million investment in the world’s first network of solar-powered electric vehicle charging stations.

The Electrification Financing Initiative (ElectriFI), funded by the European Union, has made its first investment in the African ecological mobility sector, committing $1.6 million to Ugandan startup Gogo Electric (formerly Bodawerk).

African electric vehicle (EV) leader Spiro announced a significant boost to its expansion plans with a $50 million debt financing agreement signed with Afreximbank, the pan-African multilateral financial institution.

OpenseedVC, a recently launched venture capital firm, has secured an initial closing for its $10 million early-stage fund.

d.light, a company providing essential household products and financing to low-income communities, has announced a project to equip Ugandan refugee camps with solar home systems.

Accion, a non-profit focused on financial inclusion, has announced the launch of the Accion Digital Transformation Fund, a $152.5 million initiative designed to empower traditional financial institutions in serving underserved small businesses.

Maad, a Senegalese logistics platform catering to informal retailers, has secured $3.2 million in seed funding.

Africa-focused private equity firm Admaius Capital Partners (“Admaius”) has announced a majority equity investment in TRES Infrastructure Limited (“TRES”), the sole Rwandan company licensed to own, operate, and develop shared telecommunications infrastructure.

Egyptian fintech startup MNZL has secured $3.5 million in seed funding to improve its technology and expand its operations.

Egyptian startup Swypex has unveiled its one-stop financial management platform designed to streamline business operations.

The British International Investment (BII) and the Nordic Development Fund (NDF) have pledged $29.5 million towards climate insurance technologies.

South Africa’s leading independent payments processor, Adumo, has been acquired by fellow fintech company Lesaka in a deal valued at ZAR 1.59 billion (US$85.9 million), subject to approvals.

A UK-Malawian venture, Aftrak, has emerged victorious in the Milken-Motsepe Prize in Green Energy, a competition aimed at boosting access to sustainable electricity in Africa.

Nigerian digital identity solutions provider Seamfix has secured $4.5 million in funding to fuel its expansion into five new African countries.

NBA Africa Launches Triple-Double Startup Accelerator Program for Early-Stage African Businesses

Renda, a Nigerian logistics startup tackling order fulfilment challenges, has secured $1.9 million in pre-seed funding.

Kenyan agri-tech startup Farm to Feed has secured funding from Renew Capital, a pan-African investment firm, to help them scale their operations. The exact amount of funding was not disclosed.

Chowdeck, a fast-growing Nigerian on-demand delivery service, has secured $2.5 million in seed funding to fuel its expansion plans within the country.

Egyptian group-buying startup Waffarha has secured a seven-figure seed round to fuel its growth plans.

Kubik, an Ethiopian innovator in plastic upcycling for construction, has secured an additional $1.9 million in seed funding.

Madica, an African-focused investment program targeting early-stage startups, revealed its inaugural investments in three promising companies: Kola Market (Ghana), GoBEBA (Kenya), and NewForm Foods (South Africa).

South African tech education provider HyperionDev announced securing R95 million (approximately $5 million) in a new funding round. This latest investment brings the company’s total growth capital to R595 million ($31.1 million).

Bokra, an Egyptian fintech company, has successfully closed a pre-seed funding round of $4.6 million.

TLcom Capital, a leading African venture capital firm, announced the final close of its second fund, TIDE Africa Fund II, at $154 million.

The International Finance Corporation (IFC), a member of the World Bank Group focused on private sector development, is providing a significant boost to South Africa’s ongoing energy transition and affordable housing initiatives.

South African artificial intelligence (AI) software company Spatialedge has secured R60 million (approximately $3.15 million USD) in funding from Hlayisani Growth Fund.

Spark+ General Partner, a leader in clean cooking investment, announced significant progress in fundraising for the Spark+ Africa Fund.

Nigerian retail technology company OmniRetail has launched its Series A fundraising round with an initial investment from Goodwell Investments, a leading impact investor.

The European Investment Bank (EIB) and Bank of Kigali have joined forces to provide a €100 million financing package for agroecological projects in Rwanda.

Kenyan agricultural technology company Pula has secured $20 million in a Series B funding round.

SunCulture, a Kenyan company providing solar-powered irrigation solutions and agricultural technology to smallholder farmers, has secured a significant investment of $27.5 million in a Series B funding round.

Twelve African entrepreneurs were celebrated for their innovative solutions to poverty during the inaugural FINCA Ventures Prize Competition.

Renew Capital, a firm specializing in impact investments across Africa, has announced its debut investment in Ghana.

Johannesburg-based business process outsourcing (BPO) company Procera Group has secured R346 million (US$18.8 million) in funding from Africa-focused investment firm Vantage Capital.

Verod-Kepple Africa Ventures (VKAV), a pan-African venture capital firm, has closed its first fund at $60 million.

Pan-African beauty startup Zuri has secured its first institutional tech investment from Launch Africa Ventures.

Adenia Partners, a Mauritius-based private equity firm specializing in African investments, has announced the successful closing of its fifth and largest Africa-focused fund, the Adenia Africa Fund, at $470 million.

BURN Manufacturing, a leading Kenyan clean cookstove producer, has secured $12 million to accelerate the distribution of its clean cooking solutions across Africa.

Zeepay, a leading Ghanaian remittance and mobile money provider, announced today the closing of a $3 million equity investment from Verdant Capital Hybrid Fund. This marks Verdant Capital’s fourth investment in just over two years.

Kenyan travel technology startup Triply has secured a significant investment of $500,000 from Y Combinator, a world-renowned startup accelerator.

The Trade and Development Bank (TDB), a key financial institution focused on African development, has secured a $100 million financing package from the British International Investment (BII), the UK’s development finance arm.

Africa Finance Corporation (AFC) (www.AfricaFC.org), the leading infrastructure solutions provider in Africa, has announced the successful close of its largest ever debt facility, a $1.16 billion syndicated loan, attracting new lenders from the Middle East, Europe and Asia.

The African Development Bank (AfDB) has pledged $20 million to bolster food security and water access for vulnerable communities in Senegal.

The Janngo Capital Startup Fund (JCSF), a venture capital fund focused on Africa, has secured €4 million (US$4.3 million) in equity investments from ANAVA, Tunisia’s first euro-denominated fund of funds.

Satgana, a venture capital (VC) firm specializing in climate solutions, announced the final close of its first fund.

The International Finance Corporation (IFC) has announced a $10.5 million investment in 4DX Ventures, a venture capital firm supporting early-stage tech companies in Africa.

Sprints, a leading Egyptian provider of AI-powered education technology (edtech), has secured $3 million in a bridge funding round.

BasiGo, a Kenyan electric mobility company, has secured KSh396 million ($3 million) in equity funding from CFAO Group.

Pharmacy Marts, a leading digital marketplace for pharmacies in Egypt, has secured a six-figure bridge round of funding from Acasia Ventures, an early-stage venture capital firm.

ClusterLab, a Tunisian-born artificial intelligence (AI) startup headquartered in the United Arab Emirates (UAE), has secured $600,000 in a pre-seed funding round.

Kenyan insurtech startup mTek has raised $1.25 million in a funding round led by Verod-Kepple Africa Ventures and Founders Factory Africa.

South African financial technology (fintech) company Float has secured a $11 million funding facility from Standard Bank.

P1 Ventures, a seed-stage venture capital firm focused on Africa, has secured $35 million in its second fund, bringing it closer to its $50 million target.

Pan-African mobility fintech startup Moove has secured $100 million in a Series B funding round, valuing the company at $750 million.

Egyptian ad-tech startup dKilo has raised $3.2 million in seed funding to develop new methods for brands to reach consumers and expand into the Saudi Arabian market.

Zone, a leading African payment infrastructure company, has secured $8.5 million in a seed funding round exceeding expectations.

Egyptian healthtech startup 30Med has secured pre-seed funding from undisclosed angel investors.

Moroccan startup ORA Technologies, known for its super app offering various services, has secured $1.5 million in seed funding from local investors.

Nigerian identity verification platform Youverify has secured $2.5 million in pre-Series A funding.

Ethiopian electric vehicle (EV) startup Dodai has raised $4 million in its Series A funding round, marking a significant milestone for the company and the Ethiopian startup ecosystem.

Simera Sense, a leading provider of optical solutions for Earth observation satellites, has secured €13.5 million (US$14.75 million) in a growth funding round.

The Bimalab Africa Insurtech Accelerator Program has secured a significant funding boost of $600,000 from the Swiss Re Foundation.

South Africa car subscription startup Planet42 has secured $16 million (R300 million) in local currency debt and equity funding from Standard Bank.

TowerCo of Africa Uganda, a telecommunications infrastructure company, has secured $40 million in long-term financing to improve mobile phone network coverage in rural areas across the East African nation.

African women leading innovative healthcare startups are invited to apply for support from Villgro Africa, a healthcare-focused incubator and investor.

South Africa’s RecoMed, a leading digital healthcare marketplace, has secured a significant investment from Japanese pharmaceutical giant Eisai.

Moroccan startup Tookeez, a pioneer in leveraging blockchain technology to improve customer loyalty programs, has secured $1.5 million in funding.

Conducive Capital, a newly formed South African venture capital company, has unveiled a $50 million fund dedicated to fostering innovation across the African continent.

French venture capital firm Ring Capital has launched Ring Africa, a €50 million impact investment fund dedicated to supporting early-stage startups in French-speaking West Africa.

MDaaS Global, a Nigerian health-tech startup, has secured $3 million in pre-Series A funding to expand its network of diagnostic clinics and scale its proprietary technology platform, BeaconOS.

RemotePass, a leading UAE-based platform for managing remote workforces, has secured $5.5 million in Series A funding to expand to Africa.

BFREE, a Nigerian fintech company specializing in ethical credit management, has secured $2.95 million in funding to enhance its product suite.

South African AI-powered customer service platform Cue has raised $2 million in seed funding from angel investors.

Ride-hailing giant Uber is reportedly in talks to invest up to $100 million in Moove, a Nigerian vehicle financing platform, according to Bloomberg.

COTU Ventures, a Dubai-based early-stage venture capital (VC) firm, has secured $54 million for its first fund dedicated to backing promising startups in the Middle East and North Africa (MENA) region.

MoneyHash, a leading Egyptian fintech company, has secured $4.5 million in seed funding to bolster its payment technology and expand its reach across the Middle East and Africa (MEA) region.

d.light, a leading provider of solar-powered solutions, has secured $7.4 million in financing to advance their Pay-Go service and broaden access to solar products for low-income households in Nigeria.

Swedfund, a Swedish development finance institution (DFI), has partnered with African credit fund BluePeak Private Capital Fund to invest $5 million in Bridge Bank Microfinance (BBM), a subsidiary of West Africa-based Teyliom Finance.

Cairo-based venture capital firm Sawari Ventures has announced a plan to launch a new $150 million investment fund dedicated to supporting Egyptian startups.

Hohm Energy, a South African climate tech startup, has raised $8 million in seed funding to accelerate its mission of bringing affordable and accessible rooftop solar solutions to individuals and businesses across the country.

OX Delivers, a British e-mobility transport service, has secured a £1.2 million ($1.5 million) grant from Energy Catalyst, an Innovate UK program.

Mamamoni, a Nigerian fintech social enterprise dedicated to empowering low-income women, has received a €250,000 grant from the Challenge For Youth Employment (CFYE).

Leading global venture capital firm Partech has announced the final closing of its Partech Africa II fund, securing €280 million (over $300 million) to fuel the growth of African startups across diverse sectors.

Arnergy, a Nigerian cleantech startup specializing in distributed renewable energy solutions, has raised $3 million in a bridge round led by All On, an off-grid energy impact investment company supported by Shell.

Catalyst Fund, an impact investor supporting early-stage climate tech startups in Africa, has announced a $1.8 million investment in nine promising ventures across the continent.

Moove, a leading African vehicle financing startup, has announced securing $10 million in debt funding from Stride Ventures, a sector-agnostic venture debt firm.

Injaro Investments Advisors Limited, a prominent Ghanaian investment firm, announced the successful closing of its Injaro Ghana Venture Capital Fund (IGVCF), securing GHS 216 million (USD 17.5 million).

Kenyan electric vehicle (EV) startup, Roam (formerly Opibus), has secured $24 million in combined debt and equity funding to fuel its expansion across Africa.

Logidoo, a leading player in the African logistics and e-commerce space, has announced a significant seed funding boost of $1.55 million.

Kenyan health-tech startup Ilara Health has raised $4.2 million in a pre-Series A funding round, fueled by both debt and equity investments.

Senegalese startup Kwely has secured funding from Fuzé, a venture capital arm of leading investment group Digital Africa.

Ghanaian tech talent startup Remoteli has secured £250,000 ($314,824) in pre-seed funding to fuel its expansion across Africa.

Nigerian edtech startup Klas has raised $1 million in pre-seed funding to fuel its mission of making online education accessible and empowering content creators worldwide.

Medikea, a Tanzanian healthcare startup, has secured an investment from the Catalyst Fund to enhance its mission of delivering affordable healthcare services to vulnerable communities.

Tappi, a rising Pan-African digital marketing startup, is poised to reshape how small and medium-sized enterprises (SMEs) establish themselves online, fueled by a recent investment from Renew Capital Angels.

Carry1st, a leading South African mobile game publisher and digital commerce platform, has secured a strategic investment from Sony Innovation Fund: Africa, marking the venture capital arm’s first investment on the continent.

Roboost, a pioneering AI-powered logistics startup, has secured a $3 million investment round.

OfferZen, a South African developer hiring marketplace, has secured $4.3 million in funding from Invenfin and AI Capital. This comes alongside a strategic shift in their business model and a change in leadership.

In a pivotal move to address the gender funding gap in Africa’s entrepreneurial landscape, Village Capital and Standard Chartered Bank have joined forces to launch a pilot financing facility.

InspiraFarms Cooling, a leading provider of sustainable cooling solutions for Africa’s fresh produce industry, has secured a €1 million investment from the Foundation for Clean Energy and Energy Inclusion for Africa (CEI Africa).

Leading Kenyan agri-fintech startup Apollo Agriculture has secured a $10 million investment from Swedfund and ImpactConnect to fuel its rapid expansion across Africa.

DXwand, a leading AI startup operating across Egypt and the United Arab Emirates, has secured $4 million in Series A funding to accelerate its expansion across the Middle East and North Africa (MENA) region.

Moroccan startup Crealo, a platform tackling the complexities of copyright management, has secured $1.42 million in seed funding.

Kenyan agritech startup Shamba Pride has secured a $3.7 million pre-Series A funding round.

Days after getting a $30 million commitment from the European Investment Bank, Seedstars Africa Ventures has received another $10.5 million investment from the African Development Bank (AfDB).

Egyptian fintech Zeal has secured a $4 million investment, led by Raed Ventures and Cur8 Capital.

Ezdehar investment fund has injected $10 million into Yodawy, a pioneering Egyptian health-tech platform.

Egyptian logistics startup Bosta is gearing up for further expansion after securing a fresh investment from Axian Group, a pan-African group and investment firm.

Dawa Mkononi, a Tanzanian tech company revolutionizing medicine distribution in East Africa, has secured funding from esteemed investors like Sanofi, Pontem Ventures, and Villgro Africa.

Lapaire, the African eyewear startup providing stylish and affordable glasses to the continent, is scaling up its vision with a fresh $3 million investment.

Norrsken has opened applications for its Norrsken Accelerator program.

European Investment Bank (EIB) Global has injected $30 million into Seedstars Africa Ventures I, a venture capital fund empowering African startups and businesses through risk capital.

Digital Africa, a leading venture capital firm, has announced strategic investments in four innovative startups across Africa, demonstrating its commitment to empowering tech solutions tailored to the continent’s economic landscape.

Nigerian agritech startup Zebra CropBank has secured a significant investment to boost its mission of transforming the lives of smallholder farmers across Africa.

Nigerian fintech startup Cleva has raised $1.5 million in pre-seed funding to streamline international payments for individuals and businesses across Africa.

Cameroonian fintech Koree, which helps people save their spare change digitally, has secured $200,000 in pre-seed funding to expand its reach and offer.

Egypt-based edtech startup iSchool has secured $4.5 million in a funding round to fuel its global expansion, with plans to establish a new team in Dublin, Ireland.

Ampersand, Africa’s pioneering electric transport energy company, has secured $19.5 million in funding to scale its operations across the continent.

Koa, a Swiss-Ghanaian cocoa upcycling startup, has secured a landmark US$15 million investment in its Series B funding round to transform the cocoa industry with its innovative approach to sustainability and farmer empowerment.

Egyptian healthtech startup Chefaa has received a $5.25 million boost in a funding round co-led by Newtown Partners (South Africa) and Global Brain (Japan).

South Africa’s E4E Africa, a venture capital firm powered by entrepreneurs, has secured $30 million for the first close of its E4E Africa Fund II.

TUNL, a South African e-commerce logistics platform, has secured $1 million in pre-seed funding to tackle exorbitant international shipping costs and empower local businesses.

Susu, an Ivorian health-tech startup, has secured a significant $4.8 million investment to broaden its healthcare services across the continent.

Kenyan e-commerce and fintech platform Copia Global has made a strategic move, appointing seasoned tech leader John Lazar to its board of directors alongside securing $20 million in fresh funding.

French development finance institution Proparco and South African investment manager 27four have announced a joint investment of R550 million (USD 28.7 million) in Divercity Urban Property Group.

Ghanaian agritech trailblazer 3Farmate Robotics has secured an undisclosed amount in angel investment to fuel the expansion of its precision AI-powered electric robots.

Women-focused investment fund, Wic Capital, has secured a $1 million loan from a prominent UK investor, FSDAi Nyala Facility.

Nigerian fintech startup Bujeti has secured $2 million in seed funding to scale its all-in-one corporate card issuance and expense management platform.

Tappi, a rapidly growing digital commerce platform for small and medium-sized businesses (SMEs) in Africa, has secured $1.5 million in a pre-seed funding round.

Egyptian online auto parts marketplace Mtor has secured $2.8 million in pre-seed funding, led by venture capital firm Algebra Ventures, with participation from notable investors, including Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and several prominent local and global angel investors.

BasiGo, a Kenyan electric bus company operating in Kenya and Rwanda, has announced a $5 million debt financing agreement with British International Investment (BII), the UK’s development finance institution and impact investor.

The startup funding landscape in Africa in 2023 was a mixed bag of encouraging growth and cautious optimism amidst global economic headwinds.

Tunisian team collaboration startup Cynoia has announced a significant funding milestone, securing $930,000 to fuel its expansion into the West African Economic and Monetary Union (UEMOA), focusing on Senegal and Ivory Coast.

The Mastercard Africa Growth Fund has announced investments in three Africa-focused investment firms: Chui Ventures, VestedWorld, and SME Impact Fund.

Amini, a Kenyan climate-tech startup dedicated to bridging the environmental data gap in Africa, has secured $4 million in a seed funding round led by Salesforce Ventures and the Female Founders Fund.

EchoVC, a leading pan-African venture capital firm dedicated to empowering underrepresented founders and underserved markets, has announced the launch of its latest pre-seed fund, EchoVC Eco Pilot Fund I.

Endeavor Kenya, a non-profit organization that supports high-impact entrepreneurs, has announced the launch of the ScaleUp Program, its inaugural cohort-based initiative for high-growth founders in East Africa.

Saviu Ventures, a leading venture capital firm dedicated to investing in promising startups across Francophone Africa, has successfully reached the first close of its second fund, Saviu II.

GoMetro, a pioneering South African tech company specializing in fleet management solutions, has successfully secured $11.4 million in its Series A funding round.

TomorrowNow, a non-profit organization dedicated to enhancing climate resilience in Africa, has secured an additional $5 million grant from the Bill and Melinda Gates Foundation.

Twiga Foods, a Kenyan agritech startup that connects farmers to food vendors, has secured an undisclosed amount of funding from a group of investors, including Creadev and Juven.

Aquarech, a Kenyan fish farming startup, has announced a successful $1.7 million equity funding round that will fuel its mission to empower small-scale fish farmers in Kenya.

WayUp Sports, an Egyptian e-commerce platform specializing in performance-based sports gear, has secured a seed round of funding to fuel its regional expansion, launch a private brand, and enhance user experience across its application and website.

Khula, a South African agritech startup dedicated to empowering farmers through a digital platform, has secured an undisclosed investment from a PepsiCo fund.

Waspito, a Cameroonian health startup pioneering telemedicine services, has successfully raised a $2.5 million seed extension in a funding round led by DP World.

FrontEdge, a Nigerian fintech startup based in Lagos, has successfully raised $10 million in a seed round of funding, with over 70% of the capital contributed through debt financing.

Ed Partners Africa, a Kenyan non-banking financial institution that specializes in providing loans to affordable private schools, has announced a $10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC).

Shekel Mobility, a B2B auto dealers marketplace catering to the African used car market, has secured $7 million in funding to propel its growth and expansion plans.

The African Development Bank (AfDB) has approved a $300 million facility for South Africa to support its Energy Governance and Climate Resilience Programme.

Zambian social enterprise Good Nature Agro (GNA) has secured $8.5 million in equity funding from Goodwell Investments, Oikocredit, and Global Partnerships/Eleos Social Venture Fund (GP SVF).

South African recruitment startup JOBJACK has announced securing S$2.5 million in pre-Series A funding to revolutionize the entry-level recruitment process in the country.

Maisha Meds, a leading digital health organization in Africa, has received US$5.25 million in scale-up stage 3 funding from the United States Agency for International Development (USAID) Development Innovation Ventures (DIV).

BURN Manufacturing (BURN), a leading clean cookstove manufacturer, distributor, and carbon-offset project developer, has announced the issuance of Sub-Saharan Africa’s first-ever green bond designated for clean cooking financing of USD $10 Million.

South African insurtech startup Inclusivity Solutions has announced the closing of a $1.5 million Series A extension round led by impact investment firm Goodwell Investments.

Norrsken22, an Africa-focused venture capital firm, has closed its first African technology growth fund at $205 million, surpassing its target of $200 million.

AFEX, a Nigeria-based commodities platform, has raised $26.5 million in funding from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor.

Japanese VC firm SBI Holdings and Africa’s Novastar Ventures have announced a strategic partnership, with SBI Holdings committing $40 million to anchor Novastar’s future funds.

BluePeak Private Capital, a private capital firm focused on supporting the growth of scalable businesses in Africa, has reached a final close of its Private Capital Fund SCSp at $156 million.

Egyptian healthtech startup Almouneer has raised $3.6 million in seed funding to develop and scale its DRU app, a platform for lifestyle and diabetes management.

ORA Technologies, a Moroccan super-app, has raised $1 million in pre-seed funding from local private investors.

Injaro Investment Advisors, a Ghanaian private capital fund manager, has announced a $2 million equity investment in Zeepay Ghana Limited, a wholly Ghanaian-owned global mobile finance service (MFS) provider.

The Green Climate Fund (GCF) has approved a $50 million equity allocation to REPP 2, a new debt fund that will provide an opportunity to invest in the rapidly growing renewable energy sector in sub-Saharan Africa.

African agri-food startups can now apply for the THRIVE Global Accelerator Program, a 12-week program designed to support seed through Series A companies and prepare them for growth and scalability.

Sukhiba Connect, a pioneering Kenyan social commerce startup, has successfully raised $1.5 million in funding to fuel its expansion ambitions beyond the country’s borders.

OBM Education, an Egyptian educational technology startup, has announced a substantial six-figure funding round to expand its presence in Saudi Arabia.

Husk Power Systems, a pioneering cleantech startup operating in Africa and Asia, has successfully concluded its Series D funding round, raising $103 million.

Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, has announced a €57 million investment in Moroccan financial services provider CASH PLUS.

EdVentures has announced a $400,000 investment round in Crafty Workshop, an Egyptian firm specializing in supporting handicrafts through its digital educational platform.

Fifteen Egyptian tech startups have been selected for the first batch of the 500 Global in Egypt Scale Up Programme, a seven-week program designed to help founders scale their businesses.

Sony Group Corporation has launched the Sony Innovation Fund: Africa, a $10 million fund to support the growth of the continent’s entertainment sector.

Salient Predictions, a startup that develops AI-powered weather forecasting solutions, has secured a $2.9 million grant courtesy of the Bill & Melinda Gates Foundation.

Amenli, an Egyptian insurtech startup, has raised $1 million in equity funding to fuel its growth.

South African freight platform Linebooker has secured $3.5 million (R67 million) in investment from ARC Investments, a leading African investment firm.

The International Finance Corporation (IFC), a member of the World Bank Group, has announced an investment of $50 million in a new fund by LeapFrog Investments.

Google has selected 11 African Startups for its inaugural Africa AI First Accelerator Program.

Sanari Capital, a leading women-led and majority black- and women-owned private equity firm in South Africa, has closed the second round of its growth fund at R1.25 billion (approximately $65 million).

Alterra Capital Partners, a private equity firm founded in 2020 by former Carlyle Group employees, has raised $140 million in the first closing of a $500 million fund focused on investments in Africa.

WATT Renewable Corporation, a leading provider of hybrid solar solutions in Nigeria, has secured $13 million in funding from Empower New Energy.

MoneyHash, an Egyptian fintech company, has secured new funding from Tom Preston-Werner, co-founder of GitHub and former CEO, in an undisclosed seed funding round.

Intella, a MENA-based deep tech company, has successfully closed a $3.4 million Pre-Series A funding round led by HALA Ventures and Wa’ed Ventures.

Stitch, a leading fintech startup in South Africa, has announced a $25 million Series A extension round led by Ribbit Capital.

Peach Payments, a leading South African digital payment service startup, has secured a $30 million funding deal led by Apis Growth Fund II and participation from Enza Capital.

Renew Capital, an impact-focused venture capital firm investing in early-stage African startups, has backed Ethiopia-based micro-insurance startup Jamii.one with a new investment.

Root, a South African insurtech startup, has secured $1.5 million in funding to accelerate its expansion plans in the UK and Europe.

Techstars Toronto, a renowned accelerator program, has announced its 2023 summer cohort.

Enza Capital, a Pan-African venture capital firm, has closed its second fund at $58 million.

Gaia Impact, a cleantech investment firm focused on Africa, has raised a new $42 million fund to support early-stage startups developing sustainable solutions for the continent.

Revio, a South African fintech startup, has raised $5.2 million in a seed round led by QED Investors and Partech.

Secha Capital, a South African venture capital firm, has announced that it has raised $15.8 million in new funding.

Nithio, a leading energy investment platform, has invested in SunCulture, a Kenyan solar irrigation company.

P1 Ventures, a Pan-African seed venture capital fund, has announced the first close of its second fund at $25 million.

Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.

The Bill & Melinda Gates Foundation has announced that it will fund 29 healthcare supply chain startups in Africa.

Complete Farmer, a Ghanaian agritech startup, has secured $10.4 million in pre-Series A funding to streamline its operations and expand its reach.

ANKA, an Ivorian SaaS e-commerce platform for African businesses, has raised $5 million in a pre-Series A extension round led by the International Finance Corporation (IFC) with participation from Proparco and Bpifrance.

Nigerian auto-tech startup Fixit45 has raised $1.9 million in a pre-seed funding round for expansion.

Nigerian automotive startup Mecho Autotech has raised $2.4 million in pre-Series A funding to expand into wholesale spare parts distribution.

Ugandan agritech startup Emata has secured $2.4 million in seed funding to expand its agri-loan offerings across East Africa.

Lipa Later, a Kenyan fintech startup that provides buy now, pay later (BNPL) financing solutions, has secured $5 million in debt funding.

Wetility, a South African startup that offers solar energy solutions for households and businesses, has raised R903 million (~$48 million) in debt and equity.

Rentoza, a South African online subscription platform that allows users to rent electronics, furniture, and other home goods, has secured $6 million in funding.

FSD Africa Investments (FSDAi), the investment arm of FSD Africa, has made a significant financial commitment of $19.5 million towards climate adaptation and climate-aligned infrastructure projects across Africa.

Sehatech, an Egyptian health insurance startup that uses technology to automate medical approvals, claims processing, and billing, has raised $850k in funding.

Okra, a solar technology company bringing solar power to grids in developing areas, has raised $12 million in Series A funding.

The Catalyst Fund, a pre-seed venture capital fund and accelerator focused on driving climate resilience innovation in Africa, today announced the successful first closing of its $40 million fund.

Nigerian fintech startup Anchor has successfully secured $2.4 million in seed funding to further its mission of transforming the financial landscape in Nigeria.

Smartprof, a Moroccan Edtech startup that has developed an online platform for connecting students with tutors, has received a new funding boost to accelerate its growth.

LeaseSurance, a South African insurtech startup that has developed a platform to replace security deposits in rental real estate, has raised $161,000 in seed funding.

Zanifu, a Kenyan fintech company that provides inventory financing to micro, small, and medium-sized businesses (MSMEs), has raised $11.2 million in debt-equity funding in a pre-Series A round.

Anka, an Ivory Coast-based financial technology company, has received $1.7 million in funding from the International Finance Corporation (IFC) to expand its operations.

Oyster Agribusiness, a pioneering agricultural technology startup based in Ghana, has raised $310,000 in funding in its latest investment round.

Ed Partners has raised $1.5 million in debt funding from Oikocredit to enhance access to quality education in Kenya.

VitruvianMD, a promising South African medtech startup focusing on innovative healthcare solutions, has raised $1.25 million in funding.

Founders Factory Factory, a renowned venture capital company, has secured $114 million in funding to support and accelerate the growth of tech startups across Africa.

Egyptian health-tech startup Rology has secured funding from the Philips Foundation under a new partnership.

South African-based VC firm Knife Capital has closed its anticipated $50 million African Series B Expansion Fund.

Moove, a leading technology-driven vehicle subscription platform, has raised an $76 million in its latest funding round consisting of $28m in equity from new and existing investors.

Buguard, an innovative Egyptian cybersecurity startup, has announced the successful closure of its seed funding round.

Adaverse Accelerator, a prominent venture capital firm with a focus on fostering innovation across Africa, has Melanin Kapital with pre-seed funding.

Egyptian AI-driven recruitment platform Talents Arena has raised $750,000 in pre-seed funding.

South African venture capital firm, REdimension Capital, has secured over $10 million for its inaugural fund, the REdimension Real Estate Technology and Sustainability Fund I.

Ghana’s Venture Capital Trust Fund (VCTF) has led a $10.5 million investment in Mirepa’s Maiden Fund.

Terragon, a leading data analytics company specializing in cloud-based solutions, has secured $9 million in a Series B funding round.

Nigerian-based merchant solution platform Traction has secured a $6 million seed to scale its operations.

Remedial Health, a leading health tech startup based in Nigeria, has raised $12 million in a Series A funding round.

YeneHealth’s latest funding round was led by African VC and Jaza Rift Ventures, a leading health-tech-focused venture capital firm.

The strategic investment marks a significant milestone for GoSolr and paves the way for accelerated growth and expansion in the country’s clean energy landscape.

Founded in 2016, Kasha aims to bridge the gap in access to women’s health products and personal care items, addressing the challenges faced by many women in obtaining these essential items discreetly and conveniently.

The strategic investment marks a significant milestone for GoSolr and paves the way for accelerated growth and expansion in the country’s clean energy landscape.

The funding round attracted participation from Norrsken Accelerator, Acquired Wisdom Fund (AWF), Hustle Fund, Voltron Capital, Microtraction, Ajim Capital, HoaQ, Bold Angel Fund, Shivdasani Family and other angel investors.

The strategic funding is set to accelerate Money Fellows’ mission of transforming traditional savings and credit associations through its innovative tech-driven platform.

Founded in 2021, MyCover.ai aims to disrupt the traditional insurance industry in Africa by leveraging cutting-edge technology to provide accessible, transparent, and personalized insurance products to individuals and businesses alike..

Founded in 2021, Flash offers cashless payment solutions through its scan-and-pay service, allowing consumers and businesses to make transactions conveniently using QR codes