African Tech Funding Up 30%, Nairobi Takes Largest Share Of Raised Capital
Topline In a recently-released report by data intelligence platform for private market research, Tracxn Technologies, it found that African tech companies raised an additional $157 million in funding in 2026. Its Africa Tech – 9M 2026 Report further highlights that electric vehicle and battery-swapping company, Spiro raised $215 million in Series E funding, alone, accounting …
Topline
In a recently-released report by data intelligence platform for private market research, Tracxn Technologies, it found that African tech companies raised an additional $157 million in funding in 2026. Its Africa Tech – 9M 2026 Report further highlights that electric vehicle and battery-swapping company, Spiro raised $215 million in Series E funding, alone, accounting for 137% of the increase.
Key Facts
- Tracxn’s report noted that Africa technology companies raised $684 million in the first nine months of 2026, up 30% from $527 million in the same period in 2025, and 16% from $587 million in 2024. This was across 100 rounds, down 3% from 103.
- The 9M Report further states that Nairobi raised $277 million in 2026, 41% of all funding, up from $61 million and 12% in 2025. Spiro accounts for $270 million of it.
- Cairo raised $126 million, 18% of funding, against $131 million and 25% in 2025. Abuja raised $52 million, 8% of funding, against none in 9M 2025, all of it by Terra in three seed rounds. The three cities together took 67% of all funding.
- According to the report, no new unicorns (private companies valued at $1 billion or more), were created in Africa in this year, against a backdrop of 200 worldwide in 2026, and 102 in 2025.
Background
Technology remains a massive driver for the continent, as previous reports have highlighted. According to the GSMA Mobile Economy Africa report, mobile infrastructure alone contributed $240 billion in value last year. This footprint supports roughly 13 million jobs and generates $45 billion in public revenues.
In fintech, the continent has also showcased its potential as a global leader, with sub-Saharan Africa, in particular, having more than 1.1 billion registered accounts and annual transaction values exceeding $1.2 trillion for mobile money, per TopCo media.
Further to this, historical estimates from reports published by Google and the International Finance Corporation (IFC) placed the African internet economy at $115 billion (4.5% of GDP) in 2020.
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