January 29

African Tech Startup Investment Falls 28% to $2.4 Billion in 2023 as Global “Funding Winter” Begins to Bite

By Tom Jackson

Total investment into the African tech startup ecosystem fell by 27.8 per cent to US$2.4 billion in 2023 as the impacts of the global capital shortage began to make themselves felt on the continent.

This is according to the ninth edition of the annual African Tech Startups Funding Report released by startup news and research portal Disrupt Africa, which is available free to all as part of an open-sourcing initiative in partnership with Flourish VenturesAAIC Investment, and Atlantica Ventures.

Photo courtesy of WOCinTech Chat.

Source: Disrupt Africa (link opens in a new window)

business development, startups, venture capital