SSA Venture Funding in Oct 2025 Shows a Cautious but Rising Market

As Q4 begins, SSA venture funding in Oct 2025 is showing early signs of a rebound after two challenging years. By the end of October, Sub-Saharan Africa had secured USD 1.06 billion in year-to-date capital, which is a 24% increase from the USD 857.8 million recorded in the same period of 2024.

However, despite this improvement, the region remains below the USD 1.3 billion raised by October 2023, underscoring an ecosystem still working to recover lost momentum. Deal volumes tell a sharper story: only 214 transactions were completed by October 2025, down from 359 in 2024 and 505 in 2023, signalling that investor appetite is returning slowly and selectively.

SSA Venture Funding in Oct 2025: A Market Lifted by Larger Cheque Sizes

One of the most striking shifts in SSA venture funding in Oct 2025 is the growth in average ticket size, which doubled to USD 5 million compared to 2023 levels. October’s mega-round—Spiro’s USD 100 million raise—was one of the largest electric-mobility investments ever announced in Africa and alone made up 9.4% of all capital deployed this year. This outsized role of high-value rounds reflects a transitional phase in the region’s venture dynamics, where a handful of capital-intensive deals are bolstering overall funding numbers even as transaction counts drop.

Sectorally, electric mobility and renewables are rising as dominant themes. These verticals require heavy infrastructure investment, aligning with broader regional priorities to electrify transport and expand access to clean energy. Yet the structural challenge remains: the International Energy Agency reports that only USD 2.5 billion was committed to new electricity-access connections in 2023, far short of the USD 15 billion needed annually for universal access. In 2025, African governments collectively allocated USD 1.9 billion to electricity-access programmes.

SSA Venture Funding in Oct 2025: Macro Signals and Capital Market Outlook

October’s funding data arrives at a moment of macroeconomic transition. According to the IMF, SSA is projected to maintain 4.1% GDP growth in 2025 with slight acceleration in 2026, helped by policy reforms and stabilization efforts across key markets. Even so, wider headwinds persist: volatile commodity prices, constrained global liquidity, and tight financing conditions continue to impact investor confidence.

As a result, late-stage and strategically aligned sectors, such as e-mobility, connectivity, payments, and digital infrastructure, are absorbing a disproportionate share of available capital. This selective deal-making pattern suggests that the remainder of 2025 may continue to favor scale-ready ventures over early-stage experimentation.

Top 5 SSA Funding Rounds in October 2025

1. Spiro | E-Mobility | USD 100M
   Africa’s largest electric two-wheeler player invested to scale manufacturing and expand its battery-swapping network.

2. Mawingu Networks | IT/Connectivity | USD 20M Series C
   Funding to grow rural and peri-urban connectivity and expand regional infrastructure.

3. VivaJets | Aviation | USD 10M Debt
   Capital to expand its private-aviation fleet and regional footprint.

4. Kuunda | FinTech | USD 7.5M Seed
   Investment to scale embedded lending infrastructure across MEAPT markets.

5. Enzi Mobility | Electric Vehicles | USD 3.5M Corporate
   Funding to expand electric motorcycle fleets and blockchain-enabled rider incentive systems.

As 2025 enters its final stretch, SSA venture funding in Oct 2025 stands at a crossroads: recovering in value, declining in deal count, and increasingly defined by large, infrastructure-linked bets. Whether this tentative rebound can hold through year’s end will determine how much momentum SSA carries into 2026 and how quickly its venture landscape can fully return to growth.