African technology startups secured $442 million in funding during October 2025, marking a 215.7% increase from September, according to data from Africa the Big Deal, a prominent African tech funding analytics platform.
This funding surge places October as the second most-funded month of the year after July, which saw $550 million raised. Moreover, October recorded the highest equity funding so far in 2025, amounting to $334 million, representing 76% of total investments.
Leading the funding round of the month is Spiro, which raised $100 million in one of Africa’s largest e-mobility financing deals, supported by the Fund for Export Development in Africa (FEDA), Afreximbank’s investment arm.
Spiro plans to use this capital to expand its battery-swapping network and boost local manufacturing with pilot projects lined up in Cameroon and Tanzania.
Moniepoint followed with a $90 million raise, completing its Series C second leg exactly a year after an initial $110 million raise in 2024. Development Partners International’s African Development Partners III fund led the round, joined by major investors including LeapFrog Investments, Google’s Africa Investment Fund, and Visa.
The funds will accelerate Moniepoint’s expansion across Africa, enhancing financial tools for individuals and businesses.Also notable is Egypt’s cleantech startup Tagaddod, which secured $26.3 million to advance its renewable waste feedstock operations and regional growth, supported by The Arab Energy Fund and others.
South African telematics firm Ctrack raised $23.4 million with backing from Sanari Capital and 27four Investment Managers, aiming to accelerate growth and innovation.
Kenyan ISP Mawingu also garnered $20 million in Series C funding backed by Pembani Remgro Infrastructure Managers, targeting to extend internet access to underserved East African communities.
These funding is aimed at supporting African technology innovation, creating more entrepreneurial growth, job creation, and digital transformation on the continent through 2026 and beyond.
