Digest Africa Profile picture
May 3 5 tweets 4 min read
African startup companies raked in over $380M in April across 40 deals, taking the total funding received in 2022 to over $2B, a whopping 168.36% YoY increase over the same period in 2021.

🇰🇪 received the lion's share attracting $275M(72%), followed by 🇳🇬 (8.9%), & 🇪🇬 (7%). 1/n ImageImage
Energy ($270.5M, 5 deals) emerged as the most funded sector thanks to @SunKingGlobal's Series D, followed by Financial Services ($55.5M, 11 deals), Software ($20M, 4 deals) & Agritech ($19.2M, 5 deals). 2/n Image
@SunKingGlobal's $260M Series D topped the funding charts in April, also making it the largest round in 2022. This was followed by @PylonUMP's $19M Seed, @umbamobile's $15M Series A and @farmerline's $12.9M (Pre-Series A + Debt). 3/n Image
Startups with at least one female cofounder raised $32.5M across 13 deals which translates to a paltry 8.5% of all funding raised.
Across rounds, seed rounds were the most popular (13), followed by Pre-Seed (8) & Series A(3). 4/n ImageImage
Generally, 2022 looks to be a bumper year for African ventures as more funding has been raised YTD than half the total raised in 2021. At the current trajectory, African startups are on course to raise over $6B this year.
#VentureCapital #Africa #Startups Image

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