Funding Reaches Two-Year Decline as African Startups Raise $3.2 Billion in 2023
By Timi Odueso and Faith Omoniyi
In 2023, African startups secured $3.191 million in funding. This marks a sharp decline compared to the previous years.
Per our friends at Africa: The Big Deal, a curated funding database, African startups raised $3.4 billion in 2023. At TechCabal, our number is at $3.2 billion because we define funding a bit differently.
Photo courtesy of Micheile Henderson.
Source: TechCabal (link opens in a new window)
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