African Tech VC Funding Sees 51% YoY Decline in Q1 2024 Amidst Global Crunch 📉
#startup
#venture capital
#investments
#funding
In Q1 2024, African startups faced a significant 51.36% drop in funding compared to the previous year, totaling at least $369 million across 64 deals. Despite the decline, sectors like mobility and cleantech showed promising growth, while M&A activity and startup closures reshaped the landscape.
African tech startups witnessed a sharp 51.36% decline in funding during Q1 2024, reflecting ongoing challenges amidst a global funding crunch. 💼 Notable M&A deals and startup closures also reshaped the African tech ecosystem, highlighting both opportunities and obstacles. 🚀 Despite the decline, optimism remains for the potential of future fundraising efforts to rebound and surpass previous records.
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