The second half of 2026 has started, bringing the total funding raised by African startups to $1.66 billion so far this year. Between January and June, startups raised $1.44 billion. Adding July’s $224M brings us to the $1.66B milestone.
While July’s $224 million dropped from June’s high of $334 million, the biggest story of the month is not the monthly dip; it is where the capital went. Clean energy, electric vehicles (EV), and physical infrastructure dominated July’s funding, pulling in the majority of capital across the continent. Out of 37 deals tracked in July, 28 were disclosed, while 9 startups kept their funding numbers hidden.
The money raised in July went into a healthy mix of clean energy, fintech expansion, and AI platforms:
Gotion Power Morocco’s $114 million gigafactory deal and M-Kopa’s $30 million debt facility are not isolated wins; they reflect a massive shift toward commercial EV adoption. TechCabal recently reported on Swap, a Nigerian startup converting petrol-powered commercial tricycles (kekes) into electric vehicles running on swappable lithium batteries. While drivers save heavily on fuel and repairs, startups like Swap face a major hurdle: the high cost of charging infrastructure in areas with weak power grids.
Originally published by TechCabal.