African startup investments reached $3.5 billion in the first half of 2022
Africa's startup landscape has pulled in a lot of venture investments in 2022, doubling the amount raised by startups in the same period last year.
According to data from the African Private Equity and Venture Capital Association, venture capital deals on the continent reached $3.5 billion in the six months through June 2022, and is on track to hit $7 billion by year-end, 35% more than was raised in 2021, amid a global funding crunch.
In 2021, 640 African tech start-ups raised a total of $5.2 billion across 681 equity rounds, a 3.6x year-on-year growth which makes the continent one of the world’s fastest-growing startup ecosystems.
