Now, on to some good news! January 2025 has been a pretty solid month when it comes to start-up fundraising in Africa with a total of $289m raised through $100k+ deals (exc. exits). This is nearly 3.5x times the amount that was raised back in January 2024 ($85m) and actually the second-best month of January since at least 2019, second only to January 2022, in the heart of the funding heatwave. More than 90% of the funding raised in Jan was equity ($262m), 4.4x times more than in Jan 2024, and again the second-best month of Jan when it comes to equity fundraising since at least 2019.– Excerpt from Africa: The Big Deal’s Substack Blog
Africa: The Big Deal reported the biggest deals:
- PowerGen raised over $50 million to build a scalable platform for distributed renewable energy in Africa.
- LemFi secured $53 million to expand into Asia and Europe.
- Insurtech firm Naked closed a $38 million Series B to enhance automation and broaden its product lineup.
- Enko Education raised $24 million to grow its network of schools across Africa.
