African startups raised approximately $174 million in January 2026, marking a steady start to the year amid continued caution in global venture capital markets. While funding volumes remain below the highs of the 2021–2022 boom, January’s activity shows that investors are still backing startups with clear revenue paths, strong unit economics, and proven demand.
The month’s funding was concentrated across a handful of countries and sectors, with fintech, mobility, and energy-related startups accounting for the bulk of capital deployed.
Funding Concentration by Country
As has become typical in Africa’s venture ecosystem, funding activity in January 2026 was dominated by a small group of markets.
