In a decline from the more than $390 million secured in May by African startups, June had $126.9 million raised, excluding the undisclosed amount.
Following a drop in the funding journey in March and April with an unexpected rise in May, one would have thought the rise would have continued or rather taken a slight drop.
Six out of the twenty-six African startups for June’s fundraising announced an undisclosed amount, with Kenya’s energy company, Cross Boarder securing $50 million as the highest disclosed funding in June.
West Africa had 14 startups, with both North and Central Africa producing 2 startups each, while East and South Africa recorded 7 and 1, respectively.
Here is a look at the fundraising by region
West Africa
Nigeria’s Helium Health recorded the highest investment ($30m), with Mazzuma, NewComma, Messenger, and Omnibiz announcing an undisclosed amount.
Others include Haul247 ($3m), Termii ($3.65M), Berry Health ($1.6m), Cooko ($872k), Fast Credit ($3.6m), Made in Africa($218k), Talstuck ($850k), Fairmoney ($539k) and Eze ($3.7m).
Eight of the fourteen startups in this region are Nigerian, three are Ghanaian, while Cameroon and Senegal shared one each.
Nigeria continues to dominate the West African region fundraising scene, scooping 94.4% of the investment.
East Africa
Five of the seven startups from this region are Kenyan, indicating the country’s dominance once again. As mentioned earlier, Cross Boarder secured $50m as the highest in that region and Africa for June.
Ecommerce startup, Tappi raised $180k, Shopzetu secured $1m and Revivo $635k, while Peach Cars grabbed $5m.
Malawian solar startup announced $14m and Ethiopian Kubik secured $3.34m.
Kenya continues to dominate the East African region fundraising scene, taking home 94.4% of the investment.
North Africa
Only two startups in this region secured investment. Fintech startup, Agel announced undisclosed funding, while logistics startup, Trella raised $3.5m.
Both startups are Egyptian. In May, Morocco tried to break Egypt’s dominance in the Northern region. We hope July will see Tunisia join Morocco in producing more fundraising startups.
Central Africa
There was no entrant from this region in May. For the month of June, two startups from Central Africa secured investment.
Both startups are from the Democratic Republic of Congo; Edtech startup, Itot Africa ($80k) and Tuma ($500k).
South Africa
Zoie Health is the only startup from this region and it announced undisclosed funding.
Watch out for this space to get a roundup of fundraising by African startups for July
Don’t miss important articles during the week. Subscribe to techbuild weekly digest for updates
