Funding activities have slowed significantly as we approach the midpoint of the year. So far in June, only four African-focused startups have announced funding engagements, suggesting a cautious investment climate amid broader market uncertainties.
Nevertheless, the deals that were recorded reflect the resilience and innovation still present in the ecosystem. Expectedly, they included some of the most notable companies in the industry, such as Tunisia’s AI-powered Thunder Code, Ethiopia’s gamified livestreaming platform Beemi, and Kumulus Water.
Let’s look at the details of their funding deals as well as other notable news from the African tech ecosystem from the last couple of weeks.
Funding
Thunder Code
Funding Round: Seed ($9 million)
Investors: Silicon Badia, Janngo Capital, Titan Seed Fund, Roxanne Varza, and Karim Beguir
Founded: Tunisia
Founders: Karim Jouini, Jihed Othmani
About Company:
Thunder Code is an AI-solutions startup transforming traditional software testing through automation. Its platform provides developers and enterprises with intelligent, low-touch testing tools designed to improve software quality while reducing time and manual input.
What Next:
While the company hasn’t detailed specific plans for the funding, sources suggest it will be used to scale operations and grow its presence across the continent.
SORA Technology
Funding Round: Seed ($4.8 million)
Investors: Nissay Capital’s Sustainability Challenge Fund, SMBC Venture Capital, Drone Fund, Central Japan Seed Fund, and Rheos Capital Works
Founded: Yosuke Kaneko
Founders:
About Company:
SORA Technologies is an Africa-focused health tech company integrating advanced innovations to combat infectious disease spread in Africa. Although not headquartered in Africa, the company deploys solutions tailored to serve Africans. It utilizes drones and AI to combat disease spread in Ghana, Sierra Leone, Benin, and the DRC. For example, one of its flagship products, the SORA Malaria Control, uses drones and AI to identify and manage mosquito breeding sites.
What Next:
The new funding will go toward improving the platform’s predictive AI capabilities and expanding its field operations in key African countries.
Beemi
Funding Round: Seed (undisclosed)
Investors: Renew Capital
Founded: Ethiopia, 2023
Founders: Dawit Abraham
About Company:
Beemi is reimagining livestreaming by embedding interactive social games into live video sessions on platforms like TikTok, Twitch, and YouTube. The platform helps streamers convert passive audiences into engaged communities.
What Next:
Beemi is piloting monetisation features and plans to deepen user engagement through gamification as it enters its next growth phase.
Kumulus Water
Funding Round: Seed ($3.5 million)
Investors: Bpifrance
Founded: Tunisia, 2021
Founders: Iheb Triki, Mohamed Ali Abid
About Company:
Kumulus Water is an off-grid water technology provider seeking to make water supply more accessible to the underserved populations in MENA. The company designs atmospheric water generators that extract drinking water from air humidity without the need for infrastructure
What Next:
The company will use the investment to launch its new product line, Kumulus Boks, a larger-scale version of its tech tailored for urban and industrial use. It will also expand in France, Spain, and Tunisia.
Ecosystem News
Good News for Fintechs: BCAEO Extends Licensing Deadline
The Central Bank of West African States (BCEAO) has pushed the deadline for fintechs and payment service providers to obtain their licenses to August 31, 2025. This marks the fourth extension since the licensing instruction was first issued in January 2024.
The regulation mandates fintechs to meet capital requirements between CFA 10 million and CFA 100 million, depending on the service type. Its aim is to enhance regulatory clarity, ensure consumer protection, and build a safer digital finance landscape across the WAEMU region.
The extension offers fintechs a final grace period to align with the new rules, potentially paving the way for more secure and compliant innovation across West Africa.
Ethiopia’s Startup Act Receives Cabinet’s Approval
After six years in development, Ethiopia’s Council of Ministers has approved the country’s first Startup Act, signalling a significant shift for its underdeveloped innovation ecosystem.
Designed to provide legal clarity and foster innovation, the Act introduces institutional support, regulatory reforms, and financial incentives for startups. It mirrors similar legislative frameworks in countries like Nigeria and Tunisia and aims to unlock Ethiopia’s untapped entrepreneurial potential.
The Act still requires parliamentary ratification, but once enacted, it is expected to offer startups better access to investment, formal classification, and a more supportive regulatory environment.
