In 2024, African startups have seen significant funding rounds, signaling the region’s growing entrepreneurial potential. Notable raises include Moniepoint’s $110M Series C, positioning it as a potential unicorn, alongside other impactful investments in sectors like fintech, logistics, and clean energy. These funding successes reflect a positive shift in Africa’s startup ecosystem, with companies like BasiGo, Yellow Card, and Sun King paving the way for a more sustainable, inclusive, and tech-driven future. These fundraising milestones highlight the continent’s increasing appeal to investors.
Colis.ma
Amount Raised: $0.3M
Country: Morocco
Brief: Logistics platform launched in 2022 offering real-time tracking for express deliveries, empowering users to compare shipping prices.
Cathedis
Amount Raised: $0.7M
Country: Morocco
Brief: Customizable logistics solutions for e-commerce, aiming to expand Morocco’s e-commerce sector.
Waribei
Amount Raised: $0.8M
Country: Ivory Coast
Brief: Real-time and deferred payment solutions to boost transactions in francophone Africa.
Chpter
Amount Raised: $1.2M
Country: Kenya
Brief: AI-powered conversational commerce platform automating sales and interactions on social media.
Rabbit Mobility
Amount Raised: $1.3M
Country: Egypt
Brief: Provides eco-friendly micro-mobility solutions like scooters and bikes for urban transport.
Grid Africa
Amount Raised: $2.8M
Country: South Africa
Brief: Hybrid solar power systems enhancing energy access for businesses and communities.
Winich Farms
Amount Raised: $3.0M
Country: Nigeria
Brief: Connects farmers and consumers to optimize Nigeria’s food supply chain.
Octavia Carbon
Amount Raised: $5.0M
Country: Kenya
Brief: Uses Direct Air Carbon Capture (DACC) to advance global climate goals with renewable energy.
Field
Amount Raised: $11.0M
Country: Nigeria
Brief: Improves pharmaceutical supply chains across Africa, supported by the Gates Foundation.
Nala
Amount Raised: $40.0M
Country: Tanzania
Brief: Affordable remittance services for the African diaspora, positioning itself as a fintech leader.
Sun King
Amount Raised: $80M (debt financing)
Country: Nigeria
Brief: Solar energy company focusing on providing affordable and sustainable solar solutions.
Mawingu
Amount Raised: $15M (debt and equity)
Country: Kenya
Brief: Internet Service Provider (ISP) expanding services across East Africa.
Djamo
Amount Raised: $13M (Series B)
Country: Ivory Coast
Brief: Financial technology startup enabling seamless financial services in francophone Africa.
Moniepoint
Amount Raised: $110M (Series C)
Country: Nigeria
Brief: A Nigerian fintech that raised $110 million in a Series C round, positioning itself to become Africa’s eighth unicorn.
BasiGo
Amount Raised: $42M (Series A)
Country: Kenya
Brief: BasiGo specializes in electric buses and aims to revolutionize Kenya’s transport industry with sustainable solutions.
Yellow Card
Amount Raised: $33M (Series C)
Country: Nigeria
Brief: Yellow Card offers easy access to cryptocurrency for users across Africa, empowering financial inclusion.
