Egypt has emerged as the dominant hub for startup funding in Africa for May 2025, pulling ahead of other major markets like Nigeria, South Africa, and Kenya.
According to fresh data from The Big Deal Startups Database, Africa’s top 10 disclosed funding rounds last month collectively raised over $279 million, with Egypt accounting for the largest share in both deal volume and total value.
The funding cuts across fintech, healthcare, housing, and transport — sectors that continue to attract investors despite macroeconomic headwinds. Notably, Nigerian startups — which typically feature strongly in the continent’s top rounds — did not make the top 10 in May, highlighting the growing competition across the African innovation ecosystem.
One standout deal came from Kenya’s myDawa, a healthtech company that closed a $9.6 million venture round led by the Investment Fund for Developing Countries (IFU) and Alta Semper Capital. The funds will help scale its e-pharmacy platform, diagnostics services, and B2B distribution model across East Africa.
While Nigeria remains an active startup hub with multiple small and medium-sized deals, industry watchers note that the country has lagged behind its regional peers recently in closing larger, headline-grabbing rounds.
