How African startups raised in 2024
- African startups raised $2.01 billion across 182 deals in 2024, a 31% drop from 2023.
- The top five startups received 45% of the total funding in 2024, reflecting a trend towards growth-stage performers.
- Debt funding declined by 68% to $712.9 million in 2024, while equity rounds accounted for $1.12 billion.
The funding landscape for African startups in 2024 reflects both challenges and opportunities. While the decline in overall funding is concerning, the resilience shown in the second half of the year and the diversification into sectors like Cleantech and mobility suggest a potential for growth and innovation. This shift could position Africa as a leader in sustainable solutions, but it will require continued support and investment to fully realize this potential.
