Egyptian Startups Secure $101 Million in H1 of 2024

Egyptian startups have raised around $101 million in the first half of 2024 according to ‘Africa: The Big Deal’ platform, ranking Egypt as third place in Africa in startup funding. This is a significant decrease compared to the same period in 2023, when Egyptian companies had raised up to $298 million.

Kenya came first on the continent, having raised $244 million, followed by Nigeria at $172 million. South Africa came in fourth place, securing $85 million.

Collectively, these top four countries account for 79% of the total funding amount of $780 million, which marks a 57% decrease compared to the same period last year.