Startups across Africa and the Middle East raised a combined $31.3 million this week, based on disclosed funding rounds tracked by Techloy, with investor capital flowing primarily into defense technology and workforce software. A single Nigerian defense-tech round accounted for more than half the week's funding activity.
The Week's Largest Startup Funding Rounds
Here are the biggest disclosed startup funding rounds across Africa and the Middle East this week.
/1. Terra Industries, $18 million, Defense tech, Nigeria
Terra makes drones, interceptors, and unmanned ground vehicles used in the protection of infrastructure. This round concludes an extended seed round, totaling $52 million, in which returning investors 8VC and SV Angel are joined by new ones, Norleo Space Investments and Grant Gordon. Terra is opening its first international office in London and will be increasing its manufacturing, with a drone factory in Ghana scheduled to open late this year.
/2. Jem, $8.4 million, Workforce management, South Africa
Jem operates payslips, onboarding, leave, and internal communication for the deskless workforces via WhatsApp, reaching more than 250,000 employees of over 200 companies. Quona Capital led the round and other investors included University Technology Fund, E4E, and Next176/FutureGrowth. The money will go toward growing the business and developing the platform.
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