In April of 2023, funding for African startups increased significantly from the previous month, with $129.8 million secured across 23 deals. However, compared to April of the previous year, funding dropped by 68%.

The top three sectors to receive funding were fintech, cleantech, and agritech, with 30.4%, 25.3%, and 25.1% of total funds raised respectively. South Africa was the leading region for funding, with 49.1% of the funding going to startups in the country.

The top five disclosed deals included Kenyan agritech Victory Farms' $35M raise, South African fintech Peach Payments' $31M Series A round, and DRC cleantech Altech Group's $18M raise, among others.