With $1.4 billion raised by African startups during the first half of the year, the ecosystem is gearing up towards a better 2025. By over 78%, the amount raised so far has surpassed the $800 million raised during the same period in 2024. 

According to data from Africa the Big Deal, H1 2025 monthly tally crossed the $250 million bar in four different months: January, April, May, and June. To note, the monthly average stood at $237 million. This is more than the $187 million average for 2024 and $133 million for H1 2024.

While H1 2025 showed an improvement overall, a few startups were responsible for raising the bar. This article will explore a list of African startups that raised at least $10 million.

Startups that raised at least $10 million

For easy reference, we will segment the funding rounds in order of the month raised:

Unimpressively, no startup raised up to $10 million in March. Indeed, Africa witnessed the slowest month since late 2020. The closest to the mark was Enza’s $6.75m raise.

• Another South African startup, , raised to accelerate its agric-tech growth across Southern Africa.
• Senegalese e-health startup raised in funding from the International Finance Corporation (IFC), a member of the World Bank Group.

Total raised: $365 million

In sum

Although African startups crossed the $1 billion funding mark in May, June holds the highest record.

With 7 each, April and May hold the record for individual raises of more than $10 million in funding, debt, or equity. This means that Q2 2025 represents a significant turnaround from the disappointing past for startups on the continent. 

Furthermore, experts believe that African startups are poised to put up a better show in H2 2025.

For instance, Nigerian-born mobility startup Moove seeks to raise $300 million, which will power it to unicorn status. PalmPay, a leading African fintech and digital banking platform, is also in talks to raise $50 million-$100 million in Series B funding.