5 Most Funded Startups in Sub-Saharan Africa in February 2025
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After a sharp 52.1% year-on-year decline in total deal value from US $248.9 million in 2023 to US $101 million in 2024 (as of February), early 2025 data shows a modest rebound. As of February 2025, total deal value has risen by 8.8% year-on-year to reach US $109.8 million.
However, deal volume tells a different story. The number of deals dropped from 168 in early 2023 to 113 in 2024—a 32.7% decline—and then plummeted a further 75.2% to just 28 deals by February 2025. This contraction in activity is stark and suggests a continued investor pullback in terms of volume, despite the marginal recovery in total capital deployed.
As a result, average deal size has risen significantly: from approximately US $1.48 million in early 2023 to just US $0.89 million in 2024, before surging to around US $3.92 million in
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