African startups raised a combined $117 million in August 2025, continuing the continent’s growth momentum even after a record-breaking July. Although the August total was smaller compared to July’s $555 million, the month still showcased a healthy mix of venture equity and growth capital across sectors such as clean energy, fintech, health, agritech, e-mobility, and commerce.
Key Highlights by Country
Kenya Leads with Big-Ticket Deals
Kenya once again stole the spotlight with three major raises:
- CrossBoundary Energy secured a landmark $40 million, underscoring growing investor appetite for renewable and distributed energy solutions.
- HewaTele, a medical oxygen provider, raised $10.5 million to expand healthcare access.
- Ampersand, the electric motorcycle company, continued its momentum with $10 million for e-mobility expansion.
Other notable deals included Poa Internet ($4 million) for affordable connectivity and HoneyCoin ($4.9 million) for cross-border digital payments. Altogether, Kenyan startups attracted more than $66 million.
Nigeria: Cooling but Significant Mid-Sized Rounds
Nigerian startups raised over $20 million, led by:
- Koolboks ($11 million), pushing forward its clean energy-powered refrigeration solutions.
- Chowdeck ($9 million), strengthening its position in food delivery logistics.
- Rashad raised $590,000, showing investor support for early-stage fintechs.
Nigeria remains a key hub, though the month’s funding tilted toward mid-sized rounds rather than mega deals.
South Africa: Steady Growth Across Verticals
South African ventures pulled in close to $9 million across smaller but diverse rounds:
- Quest Capital Solutions ($4.2 million) focused on SME transport financing.
- Flood ($2.5 million) and Turnstay ($2 million) attracted growth capital.
- Street Wallet raised $350,000, further broadening South Africa’s fintech landscape.
Egypt: Consistent Activity in Tech and Commerce
Egyptian startups maintained their reputation for attracting steady investment:
- Breadfast led with $10 million, cementing its online grocery and quick-commerce play.
- Suplyd and Wuilt each raised $2 million, showing demand for SaaS and digital commerce infrastructure.
In total, Egyptian startups drew $14 million in August.
Other African Markets
- Complete Farmer (Ghana): Raised $5 million to deepen its agritech marketplace.
- Nulla Group (Cameroon): Closed a $1.5 million round.
- Yamify (DR Congo): Secured $100,000, a sign of budding investor interest in Central Africa.
- Fusepay (Seychelles): Picked up $350,000, highlighting fintech activity in smaller markets.
Sector Trends
- Energy & Climate Tech emerged as the month’s top magnet, with CrossBoundary Energy and Koolboks raising large rounds.
- Fintech continued to attract diverse deals, from Street Wallet and HoneyCoin to Fusepay.
- Healthtech was represented by HewaTele’s significant $10.5 million raise.
- E-mobility saw continued momentum with Ampersand’s $7 million round.
- Commerce & Logistics (Breadfast, Chowdeck, Suplyd, Wuilt) reinforced investor belief in Africa’s rising consumption economy.
Conclusion
Though August’s $117 million total was far lower than July’s $555 million, the diversity of deals across countries and sectors points to a resilient funding ecosystem. With June, July, and August combined, African startups have already attracted more than $1 billion in funding in Q3 2025, highlighting the continent’s growing importance in the global innovation landscape.
