Africa’s startup ecosystem continues to attract strong investor appetite despite global headwinds, with 39 African startups raising a combined $187.6 million in recent deals, although three companies did not disclose the amounts raised.
Data compiled by Nairametrics Research show that the top 10 startups alone attracted over $167.1 million, highlighting where investor appetite is strongest, with South Africa emerging as the clear frontrunner, accounting for more than half of total inflows, while Nigeria, Kenya, Egypt, Ghana, and Rwanda also secured significant rounds.
The analysis spotlights the top 10 African startups that raised capital recently, breaking down their contributions by country, region, and sector, and highlighting the investment trends shaping the continent’s entrepreneurial landscape.
Regional breakdown of funding
A closer look at the data shows that Southern Africa dominated with $93.3 million in total funding, driven almost entirely by a single landmark deal, Ikhokha’s $93.3 million acquisition by Nedbank.
This accounted for 55.8% of the top 10 pools, underscoring how one mega-deal can tilt the scales in Africa’s venture capital landscape.
Eastern Africa followed with $29.4 million (17.6%), spread across four startups in diverse sectors, including healthcare, telecom, services, and logistics. Kenya alone contributed three of these deals, confirming its position as East Africa’s innovation hub.
Western Africa attracted $25 million (15%), led by Nigeria’s Koolboks ($11 million) and Chowdeck ($9 million), while Ghana’s Complete Farmer chipped in $5 million. The region’s strength remains in energy-tech and agriculture, where investor demand is growing steadily.
Northern Africa, represented solely by Egypt, posted $19.4 million (11.6%). Breadfast ($10 million) and ValU ($9.4 million) demonstrate how fintech and food tech continue to attract capital in the region despite macroeconomic pressures.
Top 10 African startups that raised funds in August 2025
On-demand delivery startup Chowdeck raised $9 million in Series A funding, led by Novastar Ventures. The company is expanding aggressively in Nigeria and Ghana, with plans to open 40 dark stores by year-end and 500 by 2026.
