On July 5th 2022, Maxime Bayen (Catalyst Fund) and Max Cuvellier (GSMA) released the latest version of Africa: The Big Deal, a database of funding rounds in the African tech ecosystem. The Big Deal revealed that African startups had raised $3.1 billion in the first half of 2022, an 82% growth year-over-year (Y-O-Y) despite the ongoing funding winter ravaging the other ecosystems.
Key takeaways:
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Globally, startups are going through a funding winter in the first half of 2022 that has seen Y-O-Y funding and startup valuations decline.
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But African startups have bucked this trend, with Y-O-Y funding in the first half of 2022 growing by 82%, extending the momentum from a record 2021.
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It remains to be seen if the African startups will stay on this trajectory in the second half of 2022 or if the funding winter will finally catch up.
The market slowdown and economic volatility have primarily
