Women-Led African Healthtech Firms Secure $52M In Funding, Marking Over 2,000% Increase

The African healthtech ecosystem’s number of deals rose by 17%, to a total of 145. However, the average ticket size for deals decreased by 15%, to $1.1 million, with 78% of innovators raising less than $1 million in individual deals. In total, 114 innovators received funding last year, with 23 of them receiving multiple investments.

Zillah Waminaje, Consultant at Salient Advisory, elucidating on the funding landscape, states to FORBES AFRICA, “The reality is that much of the funding deals for healthtech startups on the continent are grants, which typically have smaller ticket sizes. In 2023, 52% of all the deals we tracked were grants but this added up to just 7% of all funding, with an average ticket size of around $170,000.”