By Lucidity Insights Research Team • August 20, 2024
Top 10 Funded African Startups Securing $500M in H1 2024
In the first half of 2024, African innovation has captivated global attention, with startups securing over $500 million in funding. From South Africa's Showmax revolutionizing streaming media to Kenya’s M-KOPA transforming access to essential products, these startups are not just raising funds—they're reshaping industries and driving significant change. Discover the inspiring stories of TymeBank, SunCulture, MetaTrace, Roam, Simera Sense, Qodek, OneOrder, and Hohm Energy. Join us as we explore how these groundbreaking companies are solving unique challenges and propelling African innovation to new heights. Watch now!
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African startups raised $1.5B in 2024, mirroring global investment patterns with a slight delay, but outpacing many regions despite a funding downturn.
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Startup funding in Sub-Saharan Africa grew 8.8% YoY to $109.8M, despite fewer deals. Gozem, Mango Network, Affinity Africa & more lead the top 5 funding rounds.
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Sub-Saharan Africa startups raised $68.9M in January 2025, but deal count fell 78% YoY. Naked Insurance, Furaha & more lead the top five funding rounds.
