African startups got off to a sluggish start in 2024, raising just $83 million across 31 disclosed deals in January, according to data from Africa: The Big Deal. Excluding this outlier, African startups in January 2023 raised roughly $99.1 million, bringing the YoY decline to a more moderate 16.2%. Image source: TechCabal/Timi OduesoThe three sectors with the highest funding are agritech with $26.3 million in raises, cleantech with $18.1 million, and healthtech with a modest $13.5 million. Three of the four logistics startups—Bosta, FriendlyM and Roboost—who raised funds in January 2024 were from North Africa, or Egypt specifically. Last year, logistics startups received a fair bit of interest as the fourth sector with the highest funding at $205 million.

Source: The North Africa Journal February 05, 2024 05:30 UTC