At the end of July, African startups jointly raised $123.4 million across 20 disclosed deals, according to BD Funding Tracker. July saw West Africa and North Africa coming in third and fourth place with $26.6 million and $10 million raised respectively. Nigerian startups that rocked the region's funding scene were, Terragon with $9 million, Moove with $8 million, Zuvy did $4.5 million, Propel followed with $2.74 million raise, MyCover raised $1.25 million, and then Clafiya with $610,000. Egyptian startup, Flash raised $6 million, then there's Masroofi with $1.5 million, and Exits MENA with $1.2 million. $1.3 billion was raised in the year's first half, compared to the first half of 2022, where startups raised $3.1 billion.

Source: The North Africa Journal August 06, 2023 16:26 UTC