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How African startups raised funding in 2023
After defying the global funding slowdown of 2022, VC investments in African startups dropped considerably last year, mirroring the situation in other
After defying the global funding slowdown of 2022, VC investments in African startups dropped considerably last year, mirroring the situation in other regions where capital taps were significantly turned off. Notably, while there was a funding slowdown, the firm maintains that the number of deals grew by 11% to 1,080 owing to more activity happening at the early stage, especially from accelerator programs in Africa taking in large cohorts and venture studios. Partech: French-speaking nations experienced increased representation, claiming five out of the remaining six spots in the top ten, including Morocco ($93M), Democratic Republic of Congo ($42M), Rwanda ($38M), Tunisia ($33M), and Senegal ($27M).
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