Africa's startups raise $438m in August, eye global expansion

African startups raised $438m in August, with a single $250m deal accounting for over half of the total, indicating that headline figures can overstate the breadth of capital flowing into the ecosystem. The concentration underscores a persistent depth problem in African venture funding, where a small number of large rounds drives aggregate totals while most companies face thinner access to capital. The month's activity nonetheless signals growing international appetite for African technology assets, though reliance on outlier deals leaves overall funding volumes volatile.