INFOGRAPHIC: Startup Funding in Africa and the Middle East

The startup ecosystem in the Middle East and Africa is buzzing with activity this week, as seven companies secured fresh funding to fuel their growth.

Leading the charge is UAE-based healthtech BioSapien, which pulled in an impressive $7 million in an extended pre-Series A round to accelerate clinical trials for its flagship product, MediChip™.

Not far behind, South African climate-tech startup Insight Terra raised $5.7 million in a Series A extension, while UAE agriculture-focused fintech Maalexi secured a $3 million debt financing facility from Citi. Nigerian fintech startup Accrue also made headlines with a $1.58 million seed round. South African fintech NjiaPay wasn’t left out either, securing an oversubscribed $1 million pre-seed round to simplify payments for African businesses.

Surprisingly, the healthtech startup dominated the funding activity this week, followed by climate tech and fintech. Aside from the disclosed rounds, we tracked some undisclosed but notable funding rounds including Egypt’s Fincart, which secured a pre-seed round led by Plus VC, and Kenyan fintech startup Sevi.

Meanwhile, on the acquisition front, Nigerian-founded fintech LemFi acquired Bureau Buttercrane – an Irish currency exchange platform, while Moove, a Nigerian mobility startup acquired Brazilian car rental startup Kovi in an all-share deal to strengthen its presence in Latin America.

Across the region, tech solutions continue to attract strong investment, demonstrating ongoing confidence in their potential.