African tech startups secured $162 million in November 2025, marking one of the sharpest monthly declines in funding this year. New data from Africa: The Big Deal, a leading analytics platform for the continent’s startup ecosystem, highlights a notable slowdown in investor participation.
Funding Falls Dramatically Compared to Previous Months
Funding for the month dropped:
- 63.3% from the $442 million raised in October 2025
- 32.2% compared with November 2024’s $252 million
- 39.2% from the $267 million recorded in November 2023
Despite traditionally being a high-activity period, this year’s November figures reveal reduced deal-making and slower investor activity.
Equity Financing Continues to Dominate
Of the total $162 million, the bulk came from equity financing:
- 79% (around $128 million) in equity
- 21% via debt instruments
This mirrors the trend from previous months:
- October 2025: 76% equity
- September 2025: 75% equity
The steady dominance of equity deals suggests investors remain cautiously optimistic about long-term opportunities in African tech.
Fewer Startups Cross Funding Milestones
Only 32 startups raised $100,000 or more in November, down significantly from 53 in October. Among the funded companies:
- 16 startups raised over $1 million
- Just 6 startups secured $10 million+ deals
South Africa was the standout performer, accounting for four of the six biggest fundraises.
Major Deals of the Month
1. SolarSaver (South Africa) — $60 Million Equity
Topping the list, SolarSaver, a South African solar energy provider, closed a $60 million equity round led by Inspired Evolution’s Evolution III Fund, along with FMO and Swedfund.
The company plans to scale its solar and battery solutions across South Africa, Namibia, Botswana, and Zambia.
2. nextProtein (Tunisia) — $21 Million Series B
Tunisian agritech company nextProtein secured $21 million in a Series B round co-led by Blue Ocean Fund (Swen Capital) and British International Investment.
The funding will support expanded production of its insect-based protein products and the opening of a second manufacturing facility.
3. SolarX (West Africa) — €15 Million Financing Facility
West Africa-focused energy company SolarX raised €15 million via the AFRIGREEN Debt Impact Fund, with additional backing from E3 Capital, Proparco, FMO, and Triple Jump.
The capital will go toward refinancing operations and building new solar plants in Côte d’Ivoire, Senegal, Mali, and Burkina Faso.
4. Omnisient (South Africa) — $12.5 Million Series A
South African fintech Omnisient, an AI-powered alternative-data platform, secured $12.5 million in a Series A round co-led by TransUnion.
The company aims to accelerate its expansion into global markets, including the United States, as demand grows for privacy-safe data solutions for credit-invisible consumers.
