
Kenyan Electric Bus Startup BasiGo Secures $3 Million Funding for East Africa Expansion
BasiGo, a Kenyan electric mobility company, has secured KSh396 million ($3 million) in equity funding from CFAO Group.
By the end of May 2025, African startups raised over $1.06 billion, marking a key funding milestone and underscoring renewed confidence in Africa’s startup ecosystem.
This puts 2025 seven weeks ahead of 2024, when the same milestone wasn’t reached until mid-July.
This is the earliest $1B milestone since 2021, positioning 2025 as a comeback year after a tough global funding environment in 2023–2024.
📈 This marks a 40% increase over the same period in 2024 ($750M).
Deals over $100K were recorded in 20 countries, showing wider capital distribution across the continent.
Africa’s startup funding in 2025 continues to be concentrated around a few high-performing sectors, but we’re also seeing new categories begin to gain meaningful traction.
Note: These figures reflect announced investments over $100K (exc. exits) between January and May 2025. Percentages are approximate and based on a total raised of $1.06B.
Key Insights:
Six of the top 7 deals in May were from Egypt, highlighting its dominance this year.
The composition of Africa’s $1.06B in startup funding so far in 2025 reveals more than momentum — it reflects a shift in how capital is being raised.
For many founders, raising capital is no longer just about equity and valuation; it’s about choosing the right mix for scale.
With equity still leading the way, we’re also seeing a growing appetite for venture debt and alternative instruments like bonds, signaling greater investor confidence and a more mature funding environment across key African markets.
P.S: While March 2025 saw a temporary dip in deal flow ($50M total), the sharp rebound in April ($343M) and continued strength in May ($254M) suggest that the lull was an anomaly, not a trend.
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BasiGo, a Kenyan electric mobility company, has secured KSh396 million ($3 million) in equity funding from CFAO Group.
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