Spiro has successfully closed its largest funding round, raising $55 million from a Chinese fund, bringing its total funding to $270 million. This achievement positions the company close to unicorn status and highlights the growing ties between China and Africa in the electric vehicle sector.

African electric mobility company Spiro has raised $55 million from Chinese growth-stage fund NewTrails Capital, increasing its total funding to $270 million. This investment aims to support Spiro's expansion of electric vehicle and battery-swapping infrastructure across the continent, as announced on June 22.

In the first half of 2026, African tech funding totaled $1.44 billion, driven by significant mergers and acquisitions, debt financing, and advancements in artificial intelligence restructuring. This funding milestone reflects the evolving landscape of the tech ecosystem in Africa.

Catalyst Fund has raised $30 million for its investment strategy focused on climate resilience in Africa, with new investors including the International Finance Corporation, Shell Foundation, and Trafigura Foundation. The fund aims to support early-stage startups that are developing solutions to climate-related challenges across the continent, reflecting a growing interest in adaptation technologies.

European HR technology firm Factorial has secured $150 million in a Series D funding round led by General Catalyst, bringing the company's valuation to $2.5 billion. Existing investors Atomico and Four Rivers also participated in this funding round. Additionally, General Catalyst plans to invest $540 million in non-dilutive capital through its Customer program.

Bridgement has obtained R330 million from major banks to enhance funding accessibility for South Africa's SMEs, aiming to transform traditional lending practices. The initiative is expected to facilitate quicker and easier access to financing for small and medium enterprises, with a focus on the role of AI in evolving business finance in the country.