In May 2023, Africa tech funding by startups saw a total of $390 million in disclosed deal rounds. However, the month of June witnessed a decline in fundraising for African startups compared to May, with a total of $126.9 million disclosed, excluding undisclosed amounts.

In June, a total of twenty-six startups were involved in different funding rounds and out of the total number, six startups raised undisclosed funding. The highest disclosed funding in June went to Cross Boarder, a Kenyan energy company, which raised $50 million.

In terms of regional distribution, West Africa led with fourteen startups, followed by East Africa with seven, while North and Central Africa had two each, and South Africa had one.

Here's a summary of funding by region

West Africa

Nigeria's Helium Health secured the highest investment with $30 million. Other startups, including Mazzuma, NewComma, Messenger, and Omnibiz, did not disclose their funding amounts.

Additional West African startups that received funding in June include Haul247 ($3 million), Termii ($3.65 million), Berry Health ($1.6 million), Cooko ($872,000), Fast Credit ($3.6 million), Made in Africa ($218,000), Talstuck ($850,000), Fairmoney ($539,000), and Eze ($3.7 million).

Nigerian startups dominated the fundraising scene in West Africa, accounting for 94.4% of the total investment.

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North Africa

Two Egyptian startups received funding in June. Agel, a fintech startup, did not disclose the funding amount, while logistics startup Trella raised $3.5 million. Morocco attempted to challenge Egypt's dominance in May, and it is hoped that Tunisia will join in producing more fundraising startups in July.

East Africa

Out of the seven startups in this region, five were from Kenya. Cross Boarder's $50 million funding was the highest in East Africa and across the continent for June.

Other East African startups that secured funding include Tappi ($180,000), Shopzetu ($1 million), Revivo ($635,000), Peach Cars ($5 million), Malawian solar startup, Yellow (raising $14 million), and Ethiopian Kubik ($3.34 million).

Kenya remained dominant in fundraising within East Africa, claiming 94.4% of the total investment.

Central Africa

No startups from this region secured funding in May, but in June, two startups from the Democratic Republic of Congo received investments. Itot Africa, an edtech startup, secured $80,000, and Tuma raised $500,000.

South Africa

Zoie Health was the only startup from South Africa that announced funding in June, without disclosing the amount raised.

We return in August for a summary of funding in the month of July.