Africa’s startup ecosystem just posted its strongest first quarter in recent memory, pulling in $705 million—a 26.5% jump compared to the same period last year. Egypt led the charge with $190 million in disclosed funding, followed by South Africa at $157 million and Kenya at $94 million. Spread across 59 deals in 14 countries, the surge highlights a maturing innovation landscape that is steadily shedding its “emerging market” label. While American and European venture capital traditionally dominated the scene, a fresh wave of Japanese investors entered the fray, diversifying the capital flow. The shift signals growing global confidence in African startups—and suggests the next phase of growth could be even more competitive and diverse.
Semafor
