Behind these impressive figures are the powerhouse placing big bets on the continent’s startup potential, which include venture capital firms, private equity funds, and private investment funds. 

These investors are not just funding startups but shaping the African startup ecosystem, providing support to companies addressing real-world challenges. Below, are the major investors who led the funding rounds for most of the largest deals in May, with each funding led not less than $10 million:

1. Prosus Ventures

Prosus Ventures is the investing arm of Prosus. It invests in emerging technologies and innovative companies across Europe, Southeast Asia, and the Americas. Focusing on key technology sectors like e-commerce, mobility and logistics, fintech and blockchain, agritech and sustainability.

Prosus Ventures led the Thndr, a Cairo-based investment platform $15.7 million funding round in May, with participation from BECO Capital, JIMCO Capital, Endeavor Catalyst, Y Combinator, and Onsi Sawiris.

It has invested in several startups and innovative companies across the globe; Prosus ventures portfolio includes Bandlab, Bibit, Thndr, Zest Equity, and Zapia, amongst others.

2. Development Partners International (DPI) Venture Capital

DPI Venture Capital is a platform that supports entrepreneurs, from the initial ideas stage to achieving successful sales. DPI venture capital empowers high-growth ventures to solve meaningful challenges and provide access to opportunities across the continent.

DPI has invested in various African startups, from investing $110 million in Moniepoint during its Series C round in 2024 to leading Sylndr’s $15.7 million Series A equity round to accelerate Sylndr’s expansion across Egypt, boost its pricing intelligence, and strengthen partnership with dealers and service providers.

DPI portfolio includes Moniepoint; Solevo, a chemical distribution company; Cofina, a financial services provider; and other companies cutting across retail, telecommunication, and fintech.

3. Al Mada Ventures:

Al Mada is one of Africa’s private investment funds and operates in different sectors, such as banking, telecommunications, renewable energy, and the food sector.

Identifying the capital deficit affecting African startups, Al Mada launched a $110 million capital venture, Al Mada Ventures, to address the gap in growth-stage investing.

Al Mada  Ventures recently led Money Fellow, $13 million pre-Series C round in conjunction with DPI Nclude Fund, a fintech-focused investment vehicle that supports early-stage and growth-stage startups in Egypt and Africa as a whole to drive financial inclusion. 

4. Partech:

Partech Africa is a private equity fund that focuses on startups using tech to address emerging opportunities in various growth stages. It invests in fintech, entertainment companies, mobility as well as companies specialized in supply chain services.

Partech co-led AURA, a South African health tech $15  million Series B round with the Cathay AfricInvest Innovation Fund (CAIF). It also led Nawy’s $52 million Series A equity round with participation from March Capital, VKAV, VentureSouq, and DPI Nclude Fund, among others.

Partech Africa focuses on startups with major activities based in Africa to raise between €0.5 million and €5 million as initial tickets.

Led by Partech and the Cathay AfricInvest Innovation Fund (CAIF), AURA’s total funding has reached over €21 million. 

The company’s goal is to build a global emergency dispatch system that connects individuals with the closest verified responders, across borders, in real time, and through a single platform.

Founded in 2017 by Warren Myers, Ryan Green, and Adam Pantanowitz, AURA began operations in South Africa. Since then, it has scaled its model to the UK and Kenya. 

Today, the platform supports over 1.2 million users and protects more than 200,000 properties through fixed-location security services.

AURA connects users, both individuals and businesses, to nearby private and public emergency service providers, including security, ambulance, and roadside assistance. The technology functions through an API that integrates into mobile apps, wearable devices, and security infrastructure.

“We’ve built a profitable and trusted presence in the UK and Africa. We’re now ready to take personal safety global. Our mission is to make access to life-saving services seamless, borderless, and available through a single API — empowering individuals and the platforms that serve them,” said Warren Myers, AURA’s CEO.

But AURA isn’t simply chasing new markets for the sake of expansion. There is a structural gap in public safety response systems, especially in the US and UK. 

According to Myers, “In markets like the UK and US, police are stepping back from responding to unverified alarms owing to pressure on time and resources. This creates a huge opportunity for private sector players to fill the gap.”

In the US alone, the emergency response services market is estimated at $7 billion. South Africa’s alarm response market, by comparison, is projected to reach $121.4 million by 2025. 

For AURA, the opportunity lies not just in market size, but in its fragmented nature, where traditional alarm systems still dominate and verification delays remain a problem.

AURA’s business model is business-to-business-to-consumer (B2B2C). It charges a monthly per-user subscription fee and offers its platform to insurers, security firms, app developers, and mobility platforms. Current partners include Uber, Samsung, First National Bank (FNB), and a wide range of private ambulance and security operators.

“AURA addresses the challenge that, traditionally, access to private security or ambulance services is expensive and limited to those who can afford monthly contracts and alarm systems,” Myers said. 

“Our solution democratises access to safety by enabling anyone with a phone to access rapid emergency response at an affordable subscription rate.”

In practical terms, this means that idle private ambulances and armed responders can monetise their excess capacity while users get faster and more reliable service, a win-win model.

Patricia Rinke, investment director at CAIF, said, “We trust the team’s powerful vision and extraordinary execution capabilities as it scales its life-saving technology to the U.S. market and beyond. We are equally thrilled to welcome Partech as partners in our shared mission to make emergency response universally accessible.”

AURA is not stopping at expansion. The company is now working to develop what it calls a “global clearing house” for emergency response, a universal platform that functions like an international switchboard, connecting users to the closest verified responders through a single integration, no matter where they are.

The company estimates that in South Africa alone, 46 million mobile users fall within its addressable market. With subscriptions priced between ZAR 40–50 monthly ($2.20–$2.70), the potential scale is massive. It’s a bet on two things: the universal human need for safety, and the ubiquity of mobile phones.

What makes AURA’s approach interesting is its capacity to work within existing systems while improving them. It doesn’t aim to replace police or public ambulance services. It steps in where those services fall short, whether from delays, lack of coverage, or policy restrictions.

“Our goals are to make alarm verification faster, homes and businesses safer, and to help law enforcement focus on higher-priority incidents,” Myers said.

The round was led by Breega and included participation from investors such as Partech, Orange Ventures, and Outlierz, among others. Raisers Partners acted as financial advisers for the deal. 

This funding will enable Socium to strengthen its foothold as a pioneer in the region’s HR-tech market, where demand for tailored solutions is on the rise.

Founded in 2021 by Samba Lo and Serigne Seye, Socium is targeting the 21 countries in Francophone Africa, leveraging shared economic frameworks, regulations, and currency to deliver region-specific HR solutions. 

Lo highlighted the untapped potential in this market, explaining that the startup’s focus on the region gives it a distinct advantage.

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Socium’s platform addresses critical HR needs, including recruitment, payroll, and performance management. Initially conceived as a recruitment website, the startup evolved into a comprehensive HR solution after recognising the broader needs of its clients. 

The platform automates routine tasks such as payroll calculations and CV scoring, freeing HR managers to focus on employee engagement and development.

In 2023, Socium launched a payroll engine designed to handle the complexities of payroll management across multiple countries in the region. The solution enables rapid deployment in new markets—within two weeks—offering a faster alternative to global HR platforms. 

Added to this, it incorporates artificial intelligence to enhance recruitment processes, such as generating job descriptions and matching candidates to roles efficiently.

“We’re committed to helping HR teams streamline daily operations so they can focus on their most important asset: people,” said Lo. 

The startup’s tools also aim to support businesses with tax and regulatory compliance by integrating with tax agencies to automate filings.

A Growing Client Base and Future Plans

Socium has already garnered over 100 active clients spanning 15 countries and 10 industries. The company’s ability to address local HR challenges has positioned it as a key player in Africa’s burgeoning HR-tech landscape. Lo and Seye, who met while studying at École Polytechnique, attribute their success to their shared vision and entrepreneurial drive.

The startup’s journey reflects Lo’s personal mission to contribute to Africa’s development. After a career in data science and investment banking, Lo joined a French SaaS company where he discovered his passion for entrepreneurship. 

Reflecting on this transition, he said, “During the COVID-19 pandemic, I realised I wanted to create something meaningful for my community, and HR technology felt like the right path.”

A Competitive Market

Socium is among a growing number of HR-tech startups gaining traction in Africa. For instance, Kenya’s WorkPay recently raised $5 million in a Series A round led by Visa.

However, Socium’s unique focus on Francophone Africa gives it a strategic edge in a relatively underserved market.

With the new funding, Socium aims to expand its reach, enhance its product offerings, and become a leader in HR-tech across Francophone Africa.

This news comes amidst a recent report highlighting a 50% decrease in the number of active investors in the African tech sector, making Partech’s drive even more important.

The Fund will target African tech startups with investments ranging from $1 million to $15 million, focusing on Seed to Series C rounds across various sectors. 

With a goal to build a portfolio of over 20 companies, Partech Africa II aims to support ambitious founders on their growth journeys, both in local and international markets.

Partech’s target for early-growth funding addresses the gap in the African tech sector, where many startups struggle to secure the resources needed to scale. 

The firm’s strong record, combined with the diverse group of investors backing the fund, including US, Middle Eastern, and African institutions, inspires confidence in its ability to identify and support future tech leaders.

Partech has also expanded its team and physical presence in Africa. The newly opened Lagos office, home to almost a third of the fund’s current portfolio, hammers on Partech’s focus on providing on-the-ground support to entrepreneurs. 

Additionally, the appointment of senior investment officer Tito Cookey-Gam bolsters the team’s expertise and capacity.

Partech Africa II’s final closing highlights the firm’s long-term vision for African tech. In providing required funding, strategic guidance, and local support, Partech is enhancing the sustainable future of innovation on the continent. 

As Cyril Collon, General Partner at Partech, said, “The capacity to anchor rounds at all stages from Seed to Early Growth is more critical than ever. It reinforces our mission to enable the emergence of technology companies that will create transformative value for African economies and shape the future of innovation globally.” 

With this funding, Reliance Health has successfully closed the largest Series B round in the African HealthTech industry to date.

Led by General Atlantic, a leading global growth equity investor, the round received participation from Partech, Picus Capital, Tencent Exploration, AAIC (Asia Africa Investment and Consulting), P1 Ventures, Laerdal Million Lives Fund, Arvantis Social Foundation Impact Investment, and M3, Inc.

The newly-established partnership also marks General Atlantic’s first technology investment in Africa. To date, Reliance Health has raised $48,000,000 in total funding, including a $6,000,000 Series A funding round in January 2020 led by Partech, with participation from Y Combinator, LoftyInc Capital, Golden Palm Investments, Picus Capital, and Ventures Platform.

Reliance Health uses technology to bring more affordable and accessible healthcare to leading companies in emerging markets including Biersdorf Nivea, Jumia, PWC, Merrybet, Regus, and others.

The company has averaged 3.5x YOY revenue growth and offers an integrated approach that includes flat fee healthcare plans, telemedicine, prescription delivery, and a combination of partner and proprietary healthcare facilities in one single platform with one single fee.

Headquartered in Lagos, Nigeria and Austin, Texas, Reliance Health began operations in Nigeria in 2015 as a telemedicine-focused startup, Kangpe, founded by Femi Kuti, Opeyemi Olumekun, and Matthew Mayaki, and later expanded into a single-fee healthcare provider to better address the complex, evolving needs of patients.

This new Series B investment will accelerate Reliance Health’s efforts in expanding the platform in emerging markets around the world while adding new products that complement existing proprietary technology, facilities, and partnerships. Reliance will also leverage the funds to hire additional top talent.

“Healthcare in emerging markets is often overlooked by private initiatives because it’s an extremely complex challenge to solve. At Reliance Health, by leveraging new innovations to break the constraints of legacy solutions, we believe there is an opportunity to solve some of these tough problems and even for aspects of healthcare in emerging markets to leapfrog to other parts of the world. We are excited to work with our investors towards bringing affordability and accessibility in healthcare to underserved markets, ultimately saving lives around the world,” said Femi Kuti, Reliance Health CEO and co-founder.

“General Atlantic is thrilled to announce our first technology investment in Africa in Reliance Health, backing a team focused on improving healthcare quality for millions of patients in Nigeria and abroad,” said Chris Caulkin, head of EMEA Technology and managing director at General Atlantic. “We have been consistently impressed by Femi and Ope, who exemplify the entrepreneurialism and innovation we see across the African continent. We look forward to sharing our experience as a leading global growth equity investor in support of Reliance Health’s exciting and important mission.” 

“We led Reliance Health’s Series A because we saw a team that combines great vision with superb execution. They have proven this by delivering a product that is successful with large corporate as well as micro-businesses, opening up access to healthcare for underserved segments of the population. All of the Partech team feels proud and excited to see top global investors join the company as it scales in Nigeria as well as new markets,” said Tidjane Dème, general partner at Partech.

“Financial barriers prevent millions of people from receiving the life-saving and life-improving care that they need in low- and middle-income countries. Ensuring equitable access to healthcare coverage is something we care deeply about as mission-driven healthcare investors, and we’re honoured to partner with Femi Kuti and the entire Reliance Health team to help scale their offering to achieve the largest potential impact,” said Jeff Trost, managing partner at Laerdal Million Lives Fund.