Top headlines on African startups and business Deals

🌟 Editor's Note

Welcome to another exciting week in Africa's Startup ecosystem! We've got a packed newsletter full of insights, events, and inspiring stories from the heart of innovation.

In this edition:

1. Lagos Startup Week celebrates 10 years Kicking off July 7–12 in Lagos, the 2025 edition of Lagos Startup Week marks a decade of Africa-led innovation. Themed “DND – Disrupting the Next Decade,” the conference will welcome 5,000+ attendees and spotlight breakout founders reshaping markets across the continent Lagos startup week

2. Venture funding surges +40% in early 2025 African startups have raised over $1.05 billion from January to May—a 40% year-over-year rise. Egypt, South Africa, Nigeria, and Kenya secured about 84% of the total, with Egypt alone pulling $330 million (31% of the total)

3. Nigeria-born LemFi acquires UK’s Pillar Remittance fintech LemFi, serving the Nigerian diaspora, has purchased British card issuer Pillar to bolster its service suite for migrants in the UK, Canada, and Europe.

4. MyNextCar raises $10M in South Africa Bolt’s major fleet provider partner in South Africa, MyNextCar, secured $10 million in its first institutional round to scale its affordable ride-hailing platform

5. DisrupTech backs Nigeria’s Winich Farms Egypt-based fintech investor DisrupTech Ventures has made its first Sub‑Saharan Africa investment with a pre‑Series A round in Nigerian agri‑fintech Winich Farms, which services 180,000+ smallholder farmers

6. AI assistant “Naini” launched in Africa A new AI assistant called Naini is targeting African consumers to help manage personal and household tasks—signaling growing interest in AI-driven consumer services .

7. AndrenaM raises $10M in 36 hours Defense-tech startup AndrenaM, founded by a SpaceX alum, closed a $10 million funding round in just 36 hours to apply AI to real-time submarine sonar data analytics.

Partnerships & Infrastructure Developments :

8. BitGet + UNICEF to empower girls in blockchain Through its Blockchain4Her program, BitGet and UNICEF aim to train 300,000 girls in Morocco, South Africa, and six other African nations in foundational blockchain and Web3 skills.

9. Telcos vs. Starlink in South Africa South African telecom firms are pushing back with regulatory hurdles against Starlink’s satellite internet rollout—highlighting competition and digital infrastructure challenges.

10. Orange & Risingsud to help startups in France African telecom giant Orange and incubator Risingsud are joining forces to help African startups expand into the French market .

Broader Trends and Market Insights

• Local capital remains limited: Ghana’s tech scene saw $127 million across 31 deals in 2024, yet 95% of that came from non‑local sources, underscoring a need for locally-backed investment.

• Investor dry powder grows: A recent update highlights that venture capital firms remain well-funded, preparing for continued deployment across Africa .

Summary

• Funding is accelerating, with over $1 billion already raised in 2025, but local financing remains limited.

• Big deals include LemFi's acquisition, MyNextCar's Series A, and AndrenaM’s rapid AI fundraising.

• Partnerships for infrastructure and skills building—such as BitGet/UNICEF and Orange/Risingsud—are gaining traction.

• Major events like Lagos Startup Week are spotlighting African innovation on a global stage.

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